 "Largest British trade union warns Tata against 'fire sale' of specialty unit")
Reminding Tata of its promise to act responsibly, Unite warned the company against ducking its promises and conducting a “fire sale” of its speciality steel business while allowing Port Talbot and its UK strips business to “wither on the vine”.
In addition to demanding guarantees over the long-term future of Port Talbot, Unite said it would be seeking further detail and assurances from Tata Steel and prospective buyers over the sale of the speciality steel and tube business.
ALSO READ: Tata Steel to further delay decision over Port Talbot plant
“The cloud of uncertainty over steelworkers’ heads needs to be lifted by Tata giving binding commitments about its long-term intentions regarding Port Talbot and its UK strips business,” a release said quoting national officer (metals and foundry) Harish Patel of Unite.
"The UK steel industry cannot be in a situation in 3-4 years' time where Tata walks away from Port Talbot after leaving it to wither on the vine following a tie up with ThyssenKrupp in Europe," he said. The Tata Board needs to be aware that such a scenario would leave Tata's reputation as a responsible employer in tatters, Patel added.
"If Tata is to retain the goodwill of the workforce then its board needs to give guarantees over Port Talbot and assurances that it won't conduct a fire sale of its speciality and tubes business," he further said,
"Port Talbot and the UK strips business can have viable and profitable long-term future with the right investment, said Unite in its release. They are a world class workforce making world beating products. Unite will be pressing Tata for clarity over its intentions and ensuring it sticks to its promise to be a responsible seller and act ethically," the release further added.
ALSO READ: Tata Steel to review bids for UK unit
In March, Tata Steel, the country's largest steel maker, announced its intention to sell the entire 10.6 million tonne UK unit which has been in losses for several quarters. The company managed to do away with 5.5 million tonne of long product unit and is now looking to move out of the balance capacity.
“The cloud of uncertainty over steelworkers’ heads needs to be lifted by Tata giving binding commitments about its long-term intentions regarding Port Talbot and its UK strips business,” a release said quoting national officer (metals and foundry) Harish Patel of Unite.
"The UK steel industry cannot be in a situation in 3-4 years' time where Tata walks away from Port Talbot after leaving it to wither on the vine following a tie up with ThyssenKrupp in Europe," he said. The Tata Board needs to be aware that such a scenario would leave Tata's reputation as a responsible employer in tatters, Patel added.
"If Tata is to retain the goodwill of the workforce then its board needs to give guarantees over Port Talbot and assurances that it won't conduct a fire sale of its speciality and tubes business," he further said,
"Port Talbot and the UK strips business can have viable and profitable long-term future with the right investment, said Unite in its release. They are a world class workforce making world beating products. Unite will be pressing Tata for clarity over its intentions and ensuring it sticks to its promise to be a responsible seller and act ethically," the release further added.
ALSO READ: Tata Steel to review bids for UK unit
In March, Tata Steel, the country's largest steel maker, announced its intention to sell the entire 10.6 million tonne UK unit which has been in losses for several quarters. The company managed to do away with 5.5 million tonne of long product unit and is now looking to move out of the balance capacity.