Steel firm was offered 'maximum allowable help'

The Economy Minister says that the Welsh Government offered 'maximum allowable' financial help to the steel firm Rowecord. But Edwina Hart told the Assembly that the company decided to turn the offer down because of its 'worsening financial position.'

The minister said that Rowecord's management thanked the Welsh Government but felt that the maximum financial support was still not enough. She said officials are in contact with administrators to look at a rescue package and said that she would offer support to any potential buyers.

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Fears for 400 steel jobs

Employees at Newport engineering firm Rowecord are facing an uncertain future after administrators were called in this morning. Rowecord's projects include the Aquatic Centre for the London Olympics and Cardiff City Stadium.