Reaction to announcement of closure of the LGE plant in Newport

2.28.55pm BST (GMT +0100) Fri 18th Aug 2006

"This announcement will surprise few people , but will still be a blow to those working at the plant. It is another knock to manufacturing in Wales, at a time when unemployment figures are starting to head in the wrong direction.

"The announcement from LG brings to an end an inglorious chapter in the history of the Welsh economy.

"The LG story is a textbook example of inward investment that failed to live up to the hype and I hope that Wales and other European countries, have learned the lessons.

"Instead of the major shot in the arm that the Welsh economy was promised, Newport got a pain in the neck: a small factory producing electronics and an embarrassingly large hi-spec white elephant.

"I hope the electronics factory will prove more attractive to potential investors in Newport than the semi-conductor plant has proved to be over the last decade and that the LG site which promised so much can provide a source of jobs for our area in the future. I will be pressing the Economic Development Minister to take all steps he can to ensure this prime site is marketed widely at the earliest opportunity."