Author (Person) | Masrani, Swapnesh |
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Series Title | The Conversation |
Series Details | 30.03.16 |
Publication Date | 30/03/2016 |
Content Type | Journal | Series | Blog |
Tata Steel announced on the 30 March 2016 that it planned to sell its UK business after concluding that saving its plants in the country was not affordable. In a statement it said 'While the global steel demand, especially in developed markets like Europe has remained muted following the financial crisis of 2008, trading conditions in the UK and Europe have rapidly deteriorated more recently, due to structural factors including global oversupply of steel, significant increase in third country exports into Europe, high manufacturing costs, continued weakness in domestic market demand in steel and a volatile currency'. United Kingdom Prime Minister David Cameron chaired crisis talks on the UK steel industry on the 31 March 2016. UK Business Secretary Sajid Javid visited Port Talbot on the 1 April 2016 to help secure the long term future of the steel industry there. |
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Source Link | Link to Main Source http://theconversation.com/britains-steel-industry-decline-isnt-just-down-to-tata-56964 |
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Subject Categories | Business and Industry |
Countries / Regions | United Kingdom |