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Welsh firms need 'same reassurances' as Nissan says Economy Secretary

Ken Skates has written to the UK Government demanding reassurances Credit: National Assembly for Wales

The Economy Secretary says Welsh car manufacturers and other major employers 'deserve the same level of reassurance' given by the UK Government to Nissan.

Ken Skates has written to UK Business Secretary Greg Clark calling for 'clarity' on what was said to Nissan to persuade it to continue to invest in Sunderland.

You can read the text of his letter below:

The announcement that Nissan is to invest in Sunderland following guarantees given to the company by the UK Government is very positive news for the economy of the North East of England, an area of Britain that relies heavily on manufacturing, just like Wales

However, car manufacturing plants and other major employers here in Wales deserve the same level of reassurance as they make their own future investment plans.

Brexit cannot be handled on a piecemeal, factory-by-factory basis. Nor should it be conducted by the UK Government in a way that disadvantages the Welsh economy by giving privileged information about our possible future trading relationship with the EU to firms over the border - or even overseas - that is unavailable to companies here in Wales.

Leaving the EU needs to be managed much more carefully than it currently is by the UK Government if they wish to avoid badly damaging business and investor confidence.

We need a clear statement from the UK Government about what exactly was said in these negotiations and that is why I have now written to the Secretary of State seeking clarity for businesses here in Wales.

– Ken Skates AM, Economy Secretary

Pembrokeshire engineering firm goes into administration

An engineering firm in Pembrokeshire, which was given £650,000 in funding from the Welsh Government earlier this year, has gone into administration.

Credit: Google Maps

Main Port Engineering, which is based in Pembroke Dock, opened a brand new facility on the Milford Haven Waterway Enterprise Zone in March.

The move, they said, would "secure the firm’s long term future and enable the company to maximise the latest engineering technology, take on large long term contracts and create new skilled jobs."

ITV Wales has tried to contact the company for comment.

It's thought the company has over 150 employees.

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Newport metal recycling plant "significant step" for steel industry

Steel firm Liberty House has announced it's to launch a metal recycling business, under its plans for the future of steelmaking in the UK.

Credit: PA Archive

The company said it will set up a processing centre in Newport, where it already operates a one million tonne a year hot strip mill.

Recycling centres are also expected to be set up in other areas in the UK including Scotland and the Midlands.

The company said it has plans to develop its recycling business in the United State and Europe.

Liberty House executive chairman Sanjeev Gupta has described the launch as a "significant step" for the steel industry.

The projected growth in the supply of scrap in the UK and in other developed economies over the coming years provides the basis for a strong, competitive and sustainable steel industry for the future.

– Sanjeev Gupta, Liberty House

Liberty Steel has previously expressed interest in buying Tata's Port Talbot plant.

Read more: Tata staff want 'commitments' as uncertainty for Port Talbot continues

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