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Tata board meets in Mumbai on Port Talbot steelworks future Tata board meets in Mumbai on Port Talbot steelworks future
(about 3 hours later)
An action plan to save Port Talbot's steelworks is being discussed by owners Tata Steel in India.An action plan to save Port Talbot's steelworks is being discussed by owners Tata Steel in India.
Aberavon MP Stephen Kinnock has joined Community union officials in Mumbai to lobby the board, amid worries the plant could be mothballed.Aberavon MP Stephen Kinnock has joined Community union officials in Mumbai to lobby the board, amid worries the plant could be mothballed.
In January, the plan to cut 1,000 jobs - 750 at Port Talbot - was announced.In January, the plan to cut 1,000 jobs - 750 at Port Talbot - was announced.
The company blamed "extremely difficult market conditions" due to falling European prices caused by cheap imports, particularly from China.The company blamed "extremely difficult market conditions" due to falling European prices caused by cheap imports, particularly from China.
Tata employs about 5,500 people in Wales and has made 5,000 cuts in the UK over the last year. It is estimated to be losing £1m a day at Port Talbot alone.Tata employs about 5,500 people in Wales and has made 5,000 cuts in the UK over the last year. It is estimated to be losing £1m a day at Port Talbot alone.
The action plan to cut costs is seen as giving the plant the chance of a long term future.The action plan to cut costs is seen as giving the plant the chance of a long term future.
Last week, Prime Minister David Cameron backed Mr Kinnock's efforts and said the UK Government wanted "to be very supportive and very helpful" to the UK steel industry. Community and Mr Kinnock met Tata Steel executives on Monday night, with the talks being called "open and constructive" but with the warning that the company was facing challenges.
He said the market situation was difficult but the government has already taken action on public procurement and state aid compensation. Neither union nor Tata would speak as the all-day meeting began.
Community met Tata Steel Europe's new chief executive Hans Fischer amid reports Tata would pull the plug on the plan to save Port Talbot steelworks. Business Minister Anna Soubry said the UK government was prepared to consider "all options" to ensure steel production continued at the site.
"We are looking at all manner of options that may or may not be available to us as a government, all options," she told BBC Radio 4's Today programme.
"It starts from a base of making sure that we continue to make steel in Port Talbot."
The final decision will be made by the 11-member Tata Steel board, led by chairman Cyrus Mistry.The final decision will be made by the 11-member Tata Steel board, led by chairman Cyrus Mistry.
It includes five members of the Tata Europe board but not Mr Fischer, who was appointed earlier this month after the departure of chief executive Karl Koehler. It includes five members of the Tata Europe board but not Tata Steel Europe's new chief executive Hans Fischer, who was appointed earlier this month after the departure of Karl Koehler.
The meeting is expected to last all day although employees will be told of any decision before an announcement is made. Mark Davies, of the Community union and a Port Talbot steelworker for nearly 34 years, said the workforce was still hopeful the plan would be accepted and that the UK and Welsh governments would help the industry.
Roy Rickhuss, general secretary of Community said the turnaround plan, which included more than 1,000 job losses, had been "tough to accept" but the union was determined to make it work. He added: "Everyone is very worried. Morale is down but people are up for the fight, up for the challenge - they think they can succeed if we can get some backing behind us."
He said reports suggesting the Tata board in India would reject the plan were concerning and Community would be doing all it could.
The UK Government's Business Minister Anna Soubry said it was prepared to consider "all options" to ensure that steel production continued at the south Wales site.
Why is Port Talbot steelworks important?Why is Port Talbot steelworks important?
How the town's fortunes mirror the steelworksHow the town's fortunes mirror the steelworks
Port Talbot steelworks: Through generations of one familyPort Talbot steelworks: Through generations of one family
WHO IS CYRUS MISTRY?WHO IS CYRUS MISTRY?
Analysis by BBC Wales business correspondent Brian Meechan, in Port Talbot
The site is losing a reported £1m a day and everyone accepts that is not sustainable.
The 750 redundancies outlined in the survival plan are already under way. The board in Mumbai is looking at whether the plan goes far enough. It is believed it wants it to be achieved in a year but many in Port Talbot say that is not possible in such a short time scale; 18 months to two years would be more likely.
There is also an extra £100m of investment that is being asked for, from the board.
It may have reached a point ultimately where they have decided it is not be worth putting that money into this site.