Six months after being mothballed by Corus, the Redcar steel plant could be reopened in 2011after the Thai company SSI signed a memorandum of understanding to buy the plant. 1600 jobs were lost in February 2010 and it is thought that if the deal is agreed, the current workforce of 700 would see a ‘significant’ increase in size.

Welcoming the news, the local council leader described it as having ‘the potential to provide a double boost for the area following the recent announcement by Corus of a new £31.5m manufacturing plant in the area.’

Source: bbc.co.uk/27.08.2010