By Polly Raymond, 28 September 1998 11:54
NEWS Reports in the national press today that Siemens has failed to find a buyer for its Tyneside chip plant in the UK have been strongly denied by a Department of Trade and Industry (DTI) spokesman. Martin McIntosh, speaking from the DTI's Invest in Britain Bureau, said: "It's a bit premature to say that no buyer has been found. Whilst I don't want to raise false hopes, I can confirm that we're by no means at the end of the road of our search." Siemens said last month it would close its one year old Tyneside chip plant with the loss of 1,100 jobs. Shortly after the announcement the DTI and local development organisations launched a taskforce to find a buyer for the £1bn plant. "There are a few companies lined up who don't wish to be named but we're still very hopeful," McIntosh added.
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