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Downsizer Forum Index -> Downsizing abroad

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Ty Gwyn

Joined: 22 Sep 2010
Posts: 4613
Location: Lampeter

Posted: Fri Jan 18, 19 11:48 pm Post subject:

Digging it out and shipping it out has gone on for well over 150yrs,and nothing like Nigeria and the Congo,if this project comes off and is successful,which many have doubts,the workers will be eating very well on todays wages,regarding the profits going to foreign backers,there are plenty of concerns in the UK today where the profit goes abroad,lol.

The EU will disagree with you on whether more steel is needed,its the backbone of the German economy.

Shan

Joined: 13 Jan 2009
Posts: 9075
Location: South Wales

Posted: Sat Jan 19, 19 8:57 am Post subject:
The EU protected the UK from itself with anti-dumping measures against China.

Shan

Joined: 13 Jan 2009
Posts: 9075
Location: South Wales

Posted: Sat Jan 19, 19 8:58 am Post subject:

dpack wrote:

tata and krupps may have similar plans.

Corus has been an unmitigated disaster for Tata. Good luck to Krupps.

Ty Gwyn

Joined: 22 Sep 2010
Posts: 4613
Location: Lampeter

Posted: Sat Jan 19, 19 2:57 pm Post subject:

Shan wrote:

dpack wrote:

tata and krupps may have similar plans.

Corus has been an unmitigated disaster for Tata. Good luck to Krupps.

In what way?

Shan

Joined: 13 Jan 2009
Posts: 9075
Location: South Wales

Posted: Sat Jan 19, 19 7:33 pm Post subject:
Profitability is poor and pensions are a massive problem. I’ll send you a PM tomorrow

Ty Gwyn

Joined: 22 Sep 2010
Posts: 4613
Location: Lampeter

Posted: Sat Jan 19, 19 8:13 pm Post subject:

But surely if one takes over a company one takes over all business concerns,including pensions,i know its been in the news about the deficit in the pension funds,but that was for Tata to check out,

The same happened with UK Coal,but they were clever or should I say sneaky ,they split their business in 2,Harworth Holdings the property side and UK Coal the mining side,when they started closing the Collieries it came to light about the deficit in the pensions,but a government set up company now had taken on the liability of the pension deficit,even though the original company owns umpteen millions worth of property and land.

Hairyloon

Joined: 20 Nov 2008
Posts: 15425
Location: Today I are mostly being in Yorkshire.

Posted: Sun Jan 20, 19 1:27 am Post subject:

Shan wrote:

The EU protected the UK from itself with anti-dumping measures against China.

Didn't we vote against that?

Shan

Joined: 13 Jan 2009
Posts: 9075
Location: South Wales

Posted: Sun Jan 20, 19 3:33 pm Post subject:

Hairyloon wrote:

Shan wrote:

The EU protected the UK from itself with anti-dumping measures against China.

Didn't we vote against that?

Yes, we did.

Shan

Joined: 13 Jan 2009
Posts: 9075
Location: South Wales

Posted: Sun Jan 20, 19 3:38 pm Post subject:

Ty Gwyn wrote:

Tata underestimated the problems they would encounter in terms of pensions and profit. They have moved those they can move from DB to DC pensions but that still leaves a a big money hole to fill. In terms of profit, they had hoped for efficiencies and for the price of steel to rise. Unfortunately, energy prices have had a massive impact as well as climate change policies (not to mention cheap Chinese steel). All in all, there's a variety of factors that have not helped. At one point, Tata was losing more than £1million a day.

Ty Gwyn

Joined: 22 Sep 2010
Posts: 4613
Location: Lampeter

Posted: Sun Jan 20, 19 7:57 pm Post subject:

I seem to remember the workforce vote,keep jobs for a reduced pension.

Yes they had been losing money at the plant,
And regarding the energy prices,i remember being at a presentating in the Mining Engineers Institute in Cardiff when they were considering the Margam Mine project with the 2 drifts from within the steel works compound,it was nothing but a carbon trading exerc
ise,with the only benefit of a regular supply of coking coal,and they spent Millions on exploratory borings,on top of previous NCB borings.

But they have reduced their energy supply at the plant with the using of gases off the coking plant to generate electricity

Shan

Joined: 13 Jan 2009
Posts: 9075
Location: South Wales

Posted: Sun Jan 20, 19 9:01 pm Post subject:
...and yet... it's still not working...

Ty Gwyn

Joined: 22 Sep 2010
Posts: 4613
Location: Lampeter

Posted: Sun Jan 20, 19 9:22 pm Post subject:

Shan wrote:

...and yet... it's still not working...

Yet strangely enough Thyssen Krupp buy`s into the ailing company with Brexit around the corner,there`s something in the wind.

Hairyloon

Joined: 20 Nov 2008
Posts: 15425
Location: Today I are mostly being in Yorkshire.

Posted: Sun Jan 20, 19 11:40 pm Post subject:

Ty Gwyn wrote:

Shan wrote:

...and yet... it's still not working...

Yet strangely enough Thyssen Krupp buy`s into the ailing company with Brexit around the corner,there`s something in the wind.

Perhaps he thinks that Brexit is not around the corner...

Ty Gwyn

Joined: 22 Sep 2010
Posts: 4613
Location: Lampeter

Posted: Mon Jan 21, 19 12:08 am Post subject:

Hairyloon wrote:

Ty Gwyn wrote:

Shan wrote:

...and yet... it's still not working...

Yet strangely enough Thyssen Krupp buy`s into the ailing company with Brexit around the corner,there`s something in the wind.

Perhaps he thinks that Brexit is not around the corner...

The Eyes of March are upon you,lol

Shan

Joined: 13 Jan 2009
Posts: 9075
Location: South Wales

Posted: Mon Jan 21, 19 7:15 am Post subject:

Ty Gwyn wrote:

Shan wrote:

...and yet... it's still not working...

Yet strangely enough Thyssen Krupp buy`s into the ailing company with Brexit around the corner,there`s something in the wind.

Tata also bought an ailing company and now they're selling.

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