The steelmaker Corus has also announced it intends extending the Christmas shutdown at Llanwern near Newport.
Tata Steel, for example, bought Corus with loans from banks in London, not Mumbai.
ECONOMIST: India is caught in two minds about financial globalisation
Corus said no jobs would be lost as a result of the production cutback.
CSN's American mills could be a route for Corus to increase its tiny market share there.
The ASW closure came after steelmaker Corus announced 3, 000 job losses in Wales in 2001.
Corus said its losses continued to come from the UK despite recent attempts to improve competitiveness.
Tata Steel acquired Corus, an Anglo-Dutch firm, which made the Tata group UK's biggest manufacturer.
Corus chief executive, Philippe Varin, said Corus had to adapt "to the changing environment with maximum speed".
TeesPort is one of the biggest ports in the UK, and Corus Teesside is right by it.
This would follow on from 3, 000 job cuts Corus made at its plants in Wales in 2001.
Also, the large Corus company have said that they want a world centre for research and development here.
To be fair, Corus have done all they could to keep things going.
Tata has done very well on JLR but most analysts reckon it overpaid on its larger deal for Corus.
Corus said the investment would reduce C02 emissions by reusing gas generated inside the Basic Oxygen Steel (BOS) plant.
The jobs that are created at a Boeing or a Corus research centre, are those jobs that ex-miners could get?
More major companies will join the ranks of Corus, an Anglo-Dutch steel company purchased by an Indian firm, Tata Steel.
ECONOMIST: As India's clout grows it will reshape the world around it
Police in Strathclyde have said they are not treating the man's death at the Corus hotel in Glasgow as suspicious.
BBC: NEWS | UK | England | Cambridgeshire | Sally suspect 'discovered dead'
While so far the shorts aren't getting their way--Corus shares are up 3% since mid-November--the short-sellers keep adding to their position.
The steel specialist was one of a consortium that pulled out of a deal with Corus, putting 2, 000 jobs at risk.
Glyn Jarvis, cabinet member for culture and recreation from the council said he was delighted that Corus had offered their help.
It's the only one of the Corus plants that can produce every single one of the range of products they do.
Corus has started discussions with the 1, 920 employees at the plant about what could be done to mitigate the impact of mothballing.
The widespread suspicion that Tata had overpaid for Corus and JLR seemed to be confirmed when the world's stockmarkets tumbled in 2007-08.
Tata had an easier time buying Jaguar, and even Corus, the former British Steel, than opening a factory in his own country.
On Wednesday, Tony Blair once again called on Corus to re-think the decision, but so far his appeals have fallen on deaf ears.
Thai-based SSI bought the former Corus site in Redcar a year after it was mothballed with the loss of 1, 600 jobs in 2010.
Corus said it expected to produce about 30% less crude steel than planned during the two quarters to the end of March 2009.
Both Corus and Tata executives talk about their desire for a friendly takeover and their common line on governance practices and business ethics.
ECONOMIST: Why the Tata-Corus deal makes sense for both parties
As a board director for several years, Mr. Mistry has had a front-row seat for Tata's expensive, complex integrations of Corus and Jaguar-Land Rover.
Last month, Corus said it would cut production between October and December by a million tonnes of crude steel - about 20% of its output.
应用推荐