British port group Associated British Ports (ABP) faces the prospect of renewed trading challenges following Corus' announcement that it has lost more than half its stocaek market value and further job cuts and plant shutdowns are planned in the wake of its Dutch arm's rejection of a US$830 mill asset sale of its aluminium business to French group Pechiney.
ABP's Port Talbot has handled 13 mt of iron ore for Corus over the last couple of years. While Corus has already halted steel production at its Wales facility, it had in recent months taken to importing steel slabs through the port of Swansea and transporting them to Port Talbot by rail. It has been an especially difficult couple of years for Port Talbot, which has had to contend variously with a blast furnace explosion at Llanwern and Fifoots Point power station going into liquidation....
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This complete item is approximately 200 words in length, and appeared in the March/April 2003 issue of Bulk Materials International, on page 5.
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