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News
Corporate
July 2013
15
www.read-eurowire.comJob losses ahead for Tata?
Up to 300-400 jobs may be lost as a result of steel giant Tata
Steel’s plans to shut down two research and development
facilities in the UK, moving them overseas, including to India.
The company informed the UK government of its plans to close
its technology centres on Teesside, and in Rotherham, South
Yorkshire, over the next 18 months.
The Sunday Times reported that Tata might then move this
research to the Netherlands and India.
In November last year the company revealed plans to restructure
its British business; the plans include 12 sites and 900 jobs.
Its European operations have been hit by a combination of high
energy costs, falling demand and plummeting steel prices –
down five per cent in the last month.
The European steel operations of Tata, a result of its acquisition
of Corus in 2007 for an estimated £6.7 billion, is believed to be
operating with towering debts of £3.4 billion.
Tata Steel employs around 19,000 workers in Britain and controls
46 per cent of the domestic market.
Despite the tough environment, it has invested hundreds of
millions of pounds in the British operations, including £185
million on a new blast furnace at Port Talbot in south Wales – the
company’s prime asset in the UK.
Its other large plant in Scunthorpe produces flat-steel products,
used mainly in the construction and infrastructure markets. Tata
has previously dismissed talk of selling some of its British assets
but it is believed the company may seek a partner to invest in its
Lincolnshire plant.
Tata Steel UK – UK
Website
:
www.tatasteeleurope.comNew signing for Zumbach
Zumbach Electronic has
boosted its UK team with
the appointment of Adam
Franklin
as
customer
service engineer.
Mr Franklin joined the
Swiss company after
gaining more than ten
years’ experience in the
field of vision inspection
and measurement.
He has already completed
his new service team
member’s
training
at
Zumbach’s head office in
Switzerland.
Zumbach Electronic Ltd – UK
Website
:
www.zumbach.com▲
▲
New customer service engineer Adam
Franklin