Statement on behalf of the Tata Steel/Port Talbot Transition Board
23 December 2024, 11:39
Celtic Energy, a consortium of UK-based energy companies, has today been announced as the new owner of Tata Steel’s Port Talbot operations. The sale secures the future of the plant and all 4,000 jobs.
The sale of the loss-making plant was a key condition of the European Commission’s approval of Tata Steel’s takeover of Corus in 2007. The Transition Board was set up by the UK Government to oversee the sale process and ensure a fair and transparent deal.
The Transition Board has been working with Celtic Energy and Tata Steel since 2023 to ensure a smooth and successful transfer of ownership.
“We are delighted to be able to announce today that the sale of the Port Talbot operations to Celtic Energy has been completed,” said Transition Board chairman, David Williams. “This is a significant milestone in the history of the steel industry in Wales and the UK.
“Celtic Energy has a proven track record of investing in and developing energy businesses, and we are confident that they will be a strong and stable owner of the Port Talbot operations.
“We would like to thank Tata Steel for their cooperation throughout the sale process and for their commitment to the steel industry in Wales. We would also like to welcome Celtic Energy and wish them every success in the future.”
Speaking on behalf of Celtic Energy, the company’s CEO, Richard Lewis, said: “We are very pleased to have completed the acquisition of the Port Talbot operations. This is a strategically important asset for us and we believe that we can build on the strong foundations that have been laid by Tata Steel.
“We are committed to investing in the Port Talbot operations and to developing a sustainable future for the steel industry in Wales. We are confident that we can create a successful business that will generate jobs and prosperity for the local community.”
Statement on behalf of the Tata Steel/Port Talbot Transition Board
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