March 2002: Controversial US tariffs on imported steel come into effect. The European Union claims its steel plants are just more efficient that their American counterparts.

ASW Chief Executive Graham Mackenzie remains a staunch critic of the UK government's policy toward the highly-valued pound and of the US trade measures.

April-June: ASW increasingly concerned about effect of US trade tariffs which are predicted to cost European steel makers up to $2bn a year.

ASW Chief Executive Graham Mackenzie

8 July: Nine-hour crisis talks involving ASW chief executive Graham Mackenzie, Welsh Assembly Economic Development Minister Andrew Davies, two banks and the Department for Trade and Industry fail to stop ASW slipping toward collapse.

9 July: ASW's share price ends at 2.5p, valuing the business at �5m. At their peak, shares were worth 100 times as much.

10 July: ASW goes into receivership, with more than 800 jobs in the balance in Cardiff (another 400 at Sheerness in Kent).

Receivers KPMG say they will look for a buyer.

It emerges Welsh Assembly ministers had been talking with the firm for some weeks about its problems.

24 July: Production restarted briefly in the middle of the month but redundancies are announced with receivers KPMG saying the company could not be sold as a going concern, although they still hoped to find a buyer.

ASW specialised in wire products

It also emerges that the pensions of workers may not be safe because of a �21m shortfall in the company's pension fund.

31 July: Majority of production staff made redundant - 100 workers kept on as skeleton crew pending interest from other firms.

August: Calls for the Welsh Assembly to be recalled to discuss the jobs crisis.

Calls for a public inquiry after news that two former ASW directors received large pay-outs, despite the pension fund shortfall.

Unions confirm that they believe Spanish company Celsa have shown an interest in the ASW site.

September: Receivers refuse to say who the interested party is.

Steelworkers walk out of a creditors' meeting, angry at uncertainty over long-term future of the plant.

Protest march by steelworkers in Cardiff.

November: Spanish steelmakers the Celsa Group announces it is hoping to reopen the plant with a workforce of 600.

The assembly says it will offer support, but cannot provide any financial aid.

Celsa needs an environmental permit but also says it will have to consider market conditions before finalising the deal.

9 January 2003: KPMG announces ASW's sale to Celsa.

Celsa says it hopes to employ up to 400 staff but the earliest it could reopen the plant is June 2003.