Written - Alphasteel - Administrators’ Announcement of Preferred Bidder

I am making a written statement to update Members on the latest position regarding the Alphasteel Works at Newport, Gwent, which was placed into administration on 20 December 2007.

The Joint Administrators of Alphasteel have today issued a Press Statement announcing that terms have been agreed for the proposed sale of the Alphasteel Plant and certain of its assets to Libala Ltd, a company affiliated to Mirinvest, an investment business with interests in a number of steelmaking plants. I am very pleased that Libala has indicated its intention to recommence production at the Newport Works in due course.

This is very positive news for those connected with the Alphasteel Works. At the point of receivership in December 2007 Alphasteel employed around 380 people and in my Oral Statement to Plenary on 15 January I stated that we would do all we are able to help ensure the resumption of operations and employment at the Newport Works. We will continue to work closely with all parties to help achieve that aim.

When the acquisition process has been completed, the First Minister and myself will be asking Alphasteel’s new owners for an urgent meeting to discuss their proposals for the future of the plant.