Withdraw US$20m bid

FORMER steel workers, led by the Steel Workers Union of TT (SWU), marched to the Point Lisas Industrial Estate headquarters of Nu–Iron Unlimited to deliver a letter asking that their bid of US $20 M for the ArcelorMittal plant be withdrawn and the bidding process for the plant reopened.

SWU president Christopher Henry, who led the march from the union’s Southern Main Road, California offices, said rumours were circulating that Nu-Iron’s intention was to scrap 80 per cent of the plant and only rehire about 50 people to maintain a BR 3 module at the facility.

He said the union was instead working with another investor, Macarri Steel Holdings Limited which was willing to purchase the plant for a significantly larger amount while rehiring the retrenched workers.

Henry said a similar letter had been delivered to the plant’s liquidator on Monday asking him to reopen the bidding process to allow Macarri Steel to bid for the facility.

Under overcast conditions which gave way to periods of rain yesterday morning, over 200 workers marched to Nu-Iron’s headquarters where they were informed that no management official was at the facility to receive their letter.

They eventually left the letter with the plant’s security officers.

Henry said yesterday was the final day for Nu-Iron to submit a proposal to purchase the ArcelorMittal plant.

“We delivered a letter stating to them that it is not in the best interest of the workers or the country to shut the steel plant when it is still a viable entity. We also highlighted to them the denial of an opportunity with another investor who is offering more to take the plant and rehire the workers.

We also delivered a letter to the liquidator indicating that this entity which is Maccari Steel wants to purchase the plant for 100 per cent more than what Nu Iron is purchasing the plant for and they are willing to rehire all of the workers who were terminated.”

He said the US-based company is also willing to pump US $315 million by refurbishing the plant and by the construction of three other plants over a three year period.

He said the union had also delivered a letter to the liquidator asking him to not give an extension to Nu-iron and rather reopen the bidding process to allow Maccari an opportunity to submit a bid for the plant.