116 steel plant jobs go in closure.THE AvestaPolarit stainless steel stainless steel: see steel.
Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. plant at Panteg,near Pontypool,Gwent,is to close next March with the loss of 116 jobs.
Eero Mustala, senior vice president of Finnish parent company Outokumpu, said: ``The closure has been made against a background of consistent poor financial performance over many years.'' Accumulated losses at Panteg since 1997 are 50 million euro (pounds 35m).
Mr Mustala said the company would help with redundancy counselling,job searches and retraining re·train
tr. & intr.v. re·trained, re·train·ing, re·trains
To train or undergo training again.
Michael Leahy,general secretary of the steelmakers' union ISTC ISTC International Science and Technology Center
ISTC International Student Travel Confederation
ISTC Institute of Scientific and Technical Communicators (UK)
ISTC Independent Sector Treatment Centre (UK) , said: ``This is a tragedy for those losing their jobs, their families and the whole Pontypool community.
``I worked at Panteg in the 1960s and 1970s when it employed thousands and I know what the impact of these redundancies will be.
``The ISTC will be meeting with AvestaPolarit and asking them to reconsider .''