Community union’s ‘serious concerns’ over Tata sale
21 June 2016
- From the section Wales
Unions have said they have “serious concerns” about the ongoing sale of the Tata Steel UK business.
There are seven bidders for the businesses, involving more than 11,000 jobs and the Port Talbot steel works.
But Community union members, who met in London on Tuesday, said steelworkers were “less certain of their future than ever” as three months had passed since the sale announcement.
Tata UK said the company was committed to an urgent sale process.
‘Pushed to the limit’
A spokesman added: “Negotiations about various aspects of the sales process continue with interested parties.”
The union said employees, customers and suppliers deserved to know Tata’s intentions.
It said: “Since that first announcement, the trust and good will of Tata’s loyal workforce has been pushed to the limit.
“If Tata do indeed intend to retain the business, then they need not only to make this clear to their loyal workforce, but also lay out their long term plan for investment in steelmaking.”
It is understood three bidders could be shortlisted: steel and energy firm Liberty; management-led Excalibur; and Yorkshire-based equity and turnaround specialists Endless LLP with the support of American tycoon Wilbur Ross.
This post was written by FSB News