Newport steelworks jobs safeguarded
10:40am Tuesday 3rd July 2012 in Business
JOBS at a Newport steelworks have been safeguarded following a £5 million investment, it was claimed yesterday.
Cogent Power, better known as Orb Electrical Steels in Lliswerry, has developed a new process that will allow it to use raw materials from parent company Tata Steel.
The move makes it more competitive as it will no longer be reliant on “feedstock”
being supplied from firms outside the group.
Jessica Morden, MP for Newport East, said: “This is an exciting development, improving competitiveness and safeguarding valuable jobs in the local community.
“This business has been at the core of the Newport economy for over a century and this development tells us that Orb is set to be an important part of our future.”
The firm employs more than 400 people.
Cogent Power said that the firm has developed a metallurgical process that will allow it to use raw materials made with a new chemical process from its Tata Steel supplier.
The firm has worked with colleagues in the Netherlands on the move.
The company produces electrical steels which are used for generators, power transformers and other electromagnetic applications.
Cogent Power general manager Mark Cichuta said: “It’s a big step forward, enabling us to expand our electrical steels portfolio.”