Tata Steel has slumped to a net loss of £358 million for the quarter to June amid continued uncertainty over its UK operations.Read the full story ›
An engineering company in Port Talbot has closed with the loss of 250 full time jobs.
Fairwater Fabrications, based in Port Talbot, has been involved in the steel industry for more than 35 years.
The company, which supplied Tata Steel and was involved in making steel buildings and other product, said the closure was due to the down turn in production at the Tata Steelworks.
Chairman Gherold Davies told ITV Cymru Wales News that the company had received no support from the Welsh Government and had been forced to close.
On its website the company says it is "one of the largest privately owned employers in the area." Manufacturing projects range from the erection of steel buildings, conveyors for the steel industry and support bridges.
Sandra McAlister and Simon Barriball of McAlister and Co has been appointed as the proposed liquidators.
Fairwood says a total of 250 jobs have been lost since January. The remaining 66 employees were made redundant when the firm closed on 8 July.
The company is due to enter liquidation on 26 July.
The new Business Secretary has met workers at Port Talbot steel plant which still has doubts over its long-term future.
Steel giant Tata has halted plans to sell the huge site and is working on keeping its UK business as part of a joint venture with German conglomerate Thyssen Krupp.
Greg Clark, the new Secretary of State for Business, Energy and Industrial Strategy, visited the Port Talbot works yesterday and met workers and union officials.
I am encouraged that Greg Clark has met with steelworkers in his first week on the job. He will have left today in no doubt that Community will keep the pressure on this Government to keep their promises to protect the steel industry.The new Secretary of State clearly understands the scale of the challenge still facing the industry, but his words to steelworkers today must be followed by firm actions to help save their jobs. By visiting Port Talbot, he will have seen first-hand that the highly skilled workforce is the foundation on which any success for this industry will be built.
A Plaid Cymru AM says Tata Steel's plans to halt its sales process and explore a joint venture with European partners "must be stopped".Read the full story ›
Plaid Cymru AM Adam Price has said he is "deeply disappointed" at the news that steel giant Tata is to suspend its sales process in the UK.
On Friday it was announced that the planned sale of the Port Talbot plant would be halted, after talks with potential bidders in Mumbai.
The company released a statement saying that they will look at "alternative and more sustainable" solutions for the European part of their business, adding they are now talking to "strategic players" in the steel industry.
I am very concerned at the news of the suspension of the sales process and am deeply disappointed that the Wales-led management and worker buyout will not be able to go to the next stage of the process.
We have heard speculation that one of the alternative solutions is a potential link-up with German steelmaker ThyssenKrupp.
We do not believe that this would be in the long-term interests of the Welsh and UK steel industries.
Indeed if this speculation proves to be accurate and unless an explicit long-term commitment is made to the future of operations in Wales, then we will call on the UK Government to initiate a temporary full nationalisation of Tata's UK operations in order to continue with the sales process.
Merger with the German steelmaker would very likely lead to the closure of the Port Talbot steelworks and the concentration of activity at Ijmuiden, and must be opposed at all costs.
The Welsh plant is likely to remain with its Indian owners but with jobs slashed under cost-cutting measures, ITV News has been told.Read the full story ›
Tata is being urged not to allow Port Talbot plant to "wither on vine" as the company looks set is to announce sale of part of its assets.Read the full story ›
First Minister Carwyn Jones has spoken to David Cameron over the phone regarding the steel industry in Wales, Downing Street has said.
A spokesperson said the two discussed ongoing efforts to support the steel industry in Wales, and agreed that offers of support from the UK and Welsh Governments remain on the table.
The spokesperson added: "They agreed on the importance of both governments continuing to work very closely in partnership to support the steel industry in Wales and across the whole of the UK".
Reports of a possible pause in the sale of Tata Strip Products UK poses more questions than it answers, according to Aberavon MP Stephen Kinnock.
If reports that Tata Steel intend to pause the sale of most of its UK business, including Port Talbot, prove to be correct, then this would clearly pose more questions than it answers.
Steel workers and their families have been put through hell over the last weeks and months, and they will be forgiven for greeting these reports with a degree of scepticism, and perhaps even an element of anger.
We all understand the massive impact of the referendum result, and we appreciate that Tata Steel, like so many other businesses, need time to review and evaluate the implications of Brexit. However, It is now absolutely critical that Tata Steel and the UK Government come forward with a specific timetable.
There is only one bidder left with any real chance of buying Tata Steel UK, ITV News can reveal - but a deal is unlikely to be soon.Read the full story ›