A NORTH-EAST steelmaker is today expected to announce major losses in its full-year results, just days after writing down the value of its European operations by more than £1bn.

Tata Steel, which employs 1,500 North-East workers, will reveal its results for the last financial year this morning, following a pre-tax deficit of £846m last year.

The Indian-owned company, which is the world's 12th largest steelmaker, has sites in Redcar, Darlington, Middlesbrough and Skinningrove, east Cleveland, and last year unveiled plans to cut 900 UK jobs, including 90 at its pipe mill, in Hartlepool, after a marked drop in demand for oil and gas pipelines.

Bosses have refused to comment on the impact of the results on North-East jobs until after the publication of its full-year results.

It has also declined to speak about mounting speculation that it wants to sell its Corus division to ease £7bn debts, and close a Teesside research centre, employing about 200 people.

The firm recently announced it was mothballing its BiSteel plant, in Scunthorpe, which makes bomb-proof steel and is used to protect Parliament, Whitehall and New Scotland Yard, cutting six jobs, and last year said about 600 posts would go in south Wales.

Tom Blenkinsop, chairman of the all-party Parliamentary Group on Steel, and MP for Middlesbrough South and east Cleveland, previously met with John Bolton, Tata's director of Long Steel operations, and the Department for Transport, in an attempt to secure a deal for the company to make track for the High Speed 2 rail link.

He said it was vital the steelmaker stayed in the North-East.

He added: “The steel industry is still a predominantly important employer in this area and a lot of people rely on it.”