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Tata Steel confirm collapse of Swiss takeover

Tata Steel have confirmed that talks over a potential takeover of the company have ended.

4,000 jobs have been put in jeopardy following the collapse of the takeover Credit: Press Association

The company had been in talks with the Klesch Group, run by American billionaire Gary Klesch since October 2014.

In an interview with the Financial Times, Klesch said he was withdrawing in frustration at the government’s apparent lack of interest in old-economy industries.

The collapse of the deal has thrown the future of 4,000 jobs at the company's Scunthorpe plant into doubt.

The UK steel industry is faced with stiff headwinds in the shape of rising imports, uncompetitive energy prices, a strong pound and the lack of an industrial strategy for the steel sector.

– Karl Koehler, Tata Steel UK

Talks to resume over planned Tata Steel worker strike

Talks are set to resume today to try to avoid a 24-hour strike by Tata Steel workers at sites including Scunthorpe and Rotherham.

Talks are set to resume today to try to avoid a 24-hour strike by Tata Steel workers at sites including Scunthorpe and Rotherham. Credit: Press Association

Unions will meet company bosses after workers voted to strike over changes to the pension scheme. It will be the first in the industry in 30 years.

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TATA Steel to get £15m investment

Steel giant TATA has been given the go-ahead for a £15m investment at its South Yorkshire plant in Stocksbridge. The new furnace will boost high-tech steel making and create a number of jobs.

Tata says the new furnace will enable it to tap into new market opportunities and develop innovative new products for the aerospace and oil and gas industries.

Mark Broxholme, managing director of Tata’s South Yorkshire-based Speciality Steels business, said: “This is also great news for the team here at Speciality Steels, which has put enormous effort into bringing this facility to South Yorkshire.”

Tata Steel wins Saudi Arabia contract

Tata Steel has won an order to manufacture 60,000 tonnes of rail for a new high-speed line linking the cities of Mecca and Medina in Saudi Arabia.

Steel for the project will be made at the firm's plant in Scunthorpe before being rolled into 25 metre lengths at the site and in another Tata factory in Northern France.

"This is a prestigious project which will see the holy cities being linked by rail for the first time.

"Tata Steel is delighted to be contributing to this high-speed line, which will have to overcome some major challenges presented by building a high-capacity rail line across some of the most extreme terrain in the world."

– Gerard Glas, Tata Steel

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Fears for Tata Steel jobs

Tata Steel at Scunthorpe Credit: ITV Yorkshire

Fresh fears over the future of UK steel jobs were raised today after India's Tata Steel wiped £1 billion from the value of its European operations.

The group, which has UK operations at sites including Rotherham and Scunthorpe, blamed the tough economy in Europe where steel demand has slumped by about a third since the start of the financial crisis.

Unions said the huge writedown will worry its 18,500 staff in the UK who are still reeling from 900 job cuts last year.

Tata, which bought steel giant Corus in 2007 for £6.2 billion, has seen demand from construction and car-making dive, forcing thousands of lay-offs and plant closures.

Tata Steel take on more than 70 apprentices

Tata Steel, who run one of the largest apprentice schemes in the country, has announced it will take on more than 70 new apprentices in Rotherham and Scunthorpe

The company, which is Europe's second largest steel producer, says it is looking to recruit engineers and technicians to invest in skills for the future. The new craft and technical apprentices will study mechanical and electrical engineering or chemistry and metallurgy.

South Yorkshire MP "disappointed" at Tata Steel job loss announcement

One of the region's Tata Steel plants

Reacting to Tata Steel's announcement on job losses, Rotherham MP John Healey said: “I am disappointed that these changes mean redundancies in Rotherham. It will be a very difficult Christmas for those at risk of losing their jobs.

“Steel making has been hit as the economy has gone back into double dip recession. We need an economic policy from the government that restores growth to the economy and helps the steel industry pick up again.”

Rotherham MP "disappointed" at Tata Steel job losses

Reacting to Tata Steel's announcement on job losses, Rotherham MP John Healey said: “I am disappointed that these changes mean redundancies in Rotherham. It will be a very difficult Christmas for those at risk of losing their jobs.

“Steel making has been hit as the economy has gone back into double dip recession. We need an economic policy from the government that restores growth to the economy and helps the steel industry pick up again.”

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