Tata chiefs take on Corus battle (From The Northern Echo)

Tata chiefs take on Corus battle

10:47am Thursday 18th March 2010 in

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THE fight to save the mothballed Teesside Cast Products Plant has reached its Indian owners.

Following the North East Regional Committee Report into Corus' handling of the proposals to shutdown the plant, Redcar MP Vera Baird wrote to Ratan Tata, the head of the corporation.

Welcoming his reply, she said: "He makes clear that he is satisfied that Corus have done all they can to keep the plant working and to find a buyer. I am very clear now of three things.

"The first is that the negotiations for a sale of the plant, with the most promising buyer, have now moved abroad and are ongoing mainly at the site of that business's headquarters and production plant. That is a good sign of commitment and serious engagement by the parties.

"The second is that Tata are taking a very much closer direct involvement in the talks since the committee report and my letter. I am now aware of a very senior Tata presence in the talks, in replacement of a Corus figure though I am also clear that Mr Adams is still involved though he has been away, in the US, for the past week or so.

"The third is that, at present, there is no request or suggestion from these talks of a Government subsidy to facilitate the sale. The Government remains in close touch with the parties, making clear its support for a sale."