Tata Steel is the flagship company of Tata Sons one of the best-known symbols of India’s industrial development. Tata Steel, formerly Tata Iron & Steel Company (TISCO), located at Jamshedpur is the oldest integrated steel plants in India having started its production in February 1912. Tata Steel, the world's 7th largest steelmaker, is now a multinational one having operations in many countries. The company said on Friday November 4, 2011, that it decided "with great regret" to close the Tata Steel Construction Products (TCSP) business due to weak activity in UK construction and public procurement.
The products of the Tata Steel Construction Products (TCSP) business, based at the Llanwern site in Newport, include highways barrier systems for roads, parapets, floor-decking systems and lightweight frames for a variety of applications, etc.
Paul Steele, Tata Steel's managing director for distribution UK and Ireland, said: "It is with great regret that, following a detailed review of the Tata Steel Construction Products (TCSP) business, we have proposed to cease operations at construction products.” He said the business has operated at a consistent loss since 2008 and was unable to overcome the continuing economic downturn.
As a result of this closure of the construction products unit at Llanwern all the 70 people currently employed there are expected to lose their jobs. "Clearly this is a very difficult time for the people who work for the business and I would like to pay tribute to everyone who has tried so hard to enable this business, which has operated at a consistent loss since 2008, to overcome the continuing economic downturn" Mr. Steele said.
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