Operations include plant in Port Talbot employing 4,000 staff
Tata has put its loss-making UK steel operations up for sale after a crunch board meeting in Mumbai yesterday.
Tata鈥檚 UK businesses include a steel making plant in Port Talbot employing 4,000 staff.
Tata said it would 鈥渆xplore all options for portfolio restructuring, including the potential divestment of Tata Steel UK, in whole or in parts鈥�.
The firm said: 鈥淕iven the severity of the funding requirement in the foreseeable future, the Tata Steel Europe Board will be advised to evaluate and implement the most feasible option in a time-bound manner.鈥�
A joint statement from the UK and Welsh Governments said: 鈥淭his is a difficult time for workers in Port Talbot and across the UK.
鈥淒uring the review process, we remain committed to working with Tata and the unions on a long term sustainable future for British steel making.
鈥淏oth the Welsh and UK governments are working tirelessly to look at all viable options to keep a strong British steel industry at the heart of our manufacturing base.鈥�
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