Wednesday, January 28, 2009

Italian firm Marcegaglia named as potential Corus Teeside buyer.

THE future of the steel industry in the North East appears to have been secured with the news that the Corus plant on Teesside is to be sold to a new owner.

The Redcar plant will therefore evade the worst of steelmaker Corus’ decision to potentially axe up to 3,500 jobs across the UK.

However the company has confirmed that all 47 jobs at risk in its northern engineering services division will be Teesside-based.

But it is not yet known how many of the 100 other jobs to go across Corus’ long products division - which employs 13,000 across the UK including about 4,000 locally - will affect local staff.

Corus Tubes said there were no job losses planned at its Hartlepool operation.

Read the full story at NEbusiness

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