Ispat may be saved by new deal

A package of measures has been agreed between management and unions at Ispat in Cork, which could lead to the plant being re-opened.

The deal on cost cuts and production levels was reached after two days of intensive talks chaired by Kevin Foley from the Labour Relations Commission.

However, it must now be sold on by the unions to their members and by Irish Ispat to its Indian-based parent company.

The Tanaiste is set to press Ispat's owners to accept the deal at a meeting in London later today.

The steel mill in Haulbowline closed a week ago with the loss of over 400 jobs.