With the fate of around 750 steel workers in the hands of Tata’s hierarchy, how will the town cope without the steel industry’s influence?
High energy cost, climate change policies and compettiion from China have contributed to Tata’s proposed restructuring plan.
It has been mooted that China has reduced steel prices to an unrealistically low level thereby driving competitors out of the market.
With EU rules restricting the extent to which governments can help certain industries, the UK steel industry, along with those livelihoods who rely on it) may suffer irreparable damage.
The decision on the turnaround plan will be made by the 11-member Tata Steel board, led by chairman Cyrus Mistry.
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