Business secretary to visit Corus plant facing imminent closure to try to save 1,600 jobs

Business secretary Lord Mandelson will today visit the Corus Teeside Cast Products (TCP) site in Redcar in a last-ditch attempt to secure its future.

The steel plant, which is set to be mothballed this week with the loss of 1,600 jobs, is owned by Indian firm Tata Steel.

In a statement Corus said: “There has been speculation about potential last-minute bidders. Corus' position remains unchanged and the company is open to credible offers for TCP.”

Closure of the 150-year-old factory has been on the cards since last May.

Hopes were raised towards the end of the 2009, when an international consortium led by Italian steel firm Marcegaglia attempted to buy the plant, but the deal fell through.