A £79M upgrade of a Corus plant in Wales will enable the company to replace steel supplied by Teesside.
Corus said yesterday it had completed a key part of its restructuring with the opening of a continuous steel slab caster at its Port Talbot steelworks, in south Wales.
The group, which employs thousands of people on Teesside, said the equipment would increase the plant's output of steel slab by a quarter. Corus will be able to use Port Talbot to supply slab to its Welsh steel rolling mills, rather than shipping it from Teesside.
"The investment will significantly improve the competitiveness of Corus' UK carbon steel assets," a statement from the group said.
The upgrade forms part of Corus' modernisation plan, called Restoring Success.
From next year, Teesside Cast Products will operate as a stand-alone company, supplying steel slab to a consortium of steel companies.
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