There could be a lifeline for the soon-to-be-closed Saldanha Steel. The Department of Trade, Industry and Competition says it has received expressions of interest by two parties to buy the plant. Courtesy #DStv403
JOHANNESBURG - Saldanha Steel employees could be saved from retrenchment.
Last month, it was announced that after a strategic review of the company -- which has been running for more than 20 years -- it would be closing down operations.
After several failed attempts from local and provincial government to attempt to save the company, it seemed as though the 900 workers could potentially face retrenchment.
In a change of fate, two parties have expressed interest in purchasing the company from ArcelorMittal South Africa.
The Department of Trade, Industry and Competition is urging its management to engage potential buyers and reconsider its decision to shut the plant down.