Thai-owned company will shut Teesside plant indefinitely after sharp falls in steel prices
One of the UK’s biggest steelmaking plants, at Redcar on Teesside, is to stop production after nearly 100 years, with the loss of 1,700 jobs.
The plant’s owner, Thai-owned SSI, said that after reviewing the business it had no choice but to mothball the operations. SSI had put production on hold ten days ago ahead of a final decision on its future. Coke ovens and a power station at the site would continue to function, it said.
Related: Redcar finds its fighting spirit as steelworks’ future hangs in the balance
Devastating news. #SSI announce they will mothball the site. 1700 jobs - heartbreaking. #SaveOurSteel. Gov has to step in and secure asset.
Continue reading...