Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education

Front Page



UK Politics







Talking Point

In Depth

On Air

Low Graphics

Monday, April 26, 1999 Published at 12:52 GMT 13:52 UK

Business: The Economy

Steel jobs to go

Steel jobs are under threat

Up to 380 jobs in the steel industry are to go following the acquisition of Sheerness Steel by ASW plc.

The group said it would make 220 staff redundant with the closure of itsTremorfa Bar Mill in Cardiff and would shed around 160 in Sheerness, Kent, when it shuts a furnace and rod mill.

The Cardiff operation will close by the end of September and the Sheerness closure will be brought in by the end of July.

ASW says it will take a charge of 15m for the year, but will make savings of 8m annually from the closure.

The company said the rationalisation follows a review, undertaken against the background of over-capacity in ASW's principal markets and the need to re-establish ASW as a profitable business following losses last year.

It will invest approximately 4.7m in Cardiff to extend its product range as well as further investment of 5m in Sheerness to improve the quality, product range and increase output.

Advanced options | Search tips

Back to top | BBC News Home | BBC Homepage |

The Economy Contents

In this section

Inquiry into energy provider loyalty

Brown considers IMF job

Chinese imports boost US trade gap

No longer Liffe as we know it

The growing threat of internet fraud

House passes US budget

Online share dealing triples

Rate fears as sales soar

Brown's bulging war-chest

Oil reaches nine-year high

UK unemployment falls again

Trade talks deadlocked

US inflation still subdued

Insolvent firms to get breathing space

Bank considered bigger rate rise

UK pay rising 'too fast'

Utilities face tough regulation

CBI's new chief named

US stocks hit highs after rate rise

US Fed raises rates

UK inflation creeps up

Row over the national shopping basket

Military airspace to be cut

TUC warns against following US

World growth accelerates

Union merger put in doubt

Japan's tentative economic recovery

EU fraud costs millions

CBI choice 'could wreck industrial relations'

WTO hails China deal

US business eyes Chinese market

Red tape task force

Websites and widgets

Guru predicts web surge

Malaysia's economy: The Sinatra Principle

Shell secures Iranian oil deal

Irish boom draws the Welsh

China deal to boost economy

US dream scenario continues

Japan's billion dollar spending spree