UK business secretary travels to India to save steel jobs

AP News
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Posted: Jul 07, 2016 10:31 AM

LONDON (AP) — Britain's business secretary, Sajid Javid, is traveling to India to meet with Tata Steel executives amid reports that the Indian conglomerate is prepared to sell some of its U.K. plants.

Tata is looking to dispose of its specialty steel businesses in Hartlepool, Rotherham and Stocksbridge — but has so far held off any decision on what to do with its plant in Port Talbot, in Wales.

Prime Minister David Cameron and the first minister of Wales, Carwyn Jones, agreed Thursday that "offers of support from the U.K. and Welsh Governments remain on the table."

Tata has said it is losing 1 million pounds ($1.4 million) a day at Port Talbot amid high costs and a glut of cheap Chinese steel in global markets