Archive - Tuesday, 5 February 2002


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Steel firm axes jobs

More than 20 skilled steelworkers have lost their jobs as a result of a 125% import duty imposed by the US Department of Commerce.

The workers, at the Valkia steel processing plant in Blackbridge, Milford Haven, were given the shock news yesterday morning by managing director, Keith Negal.

Valkia rose from the ashes of Crownridge which went into liquidation last February.

Valkia manufactured steel rods, like its predecessor, Crownridge. Keith Negal, who was brought in as a company doctor when Crownridge showed signs of weakening, became the managing director of Valkia. After Crownridge went into liquidation, he saw the nucleus of a successful company and formed Valkia.

The factory and machinery was leased back from the liquidator. Keith Negal said: The US Department of Commerce has hit us with a 125% import duty. We paid $75,000 in duty on a $60,000 container last week. They have said we are simply Crownridge under another name, they have demanded access to Crownridge information which we simply do not have. We have different directors and we are a different company.

A spokesman for the Welsh Development Agency said: We have been working closely with Valkia and are satisfied it is a completely different company from Crownridge.

Preseli Pembrokeshire MP Jackie Lawrence said: Im aware of the situation and am doing everything in my power to help Valkia. This has arisen out of the US protectionist attitude towards their own steel industry.