Hundreds of redundant workers who lost their jobs with the collapse of Allied Steel and Wire walked out of a creditors' meeting held in Cardiff on Monday morning.

Those who left the meeting said they still had not received answers to their questions about the long term future for the site - after being told that the company had been losing money for years.

ASW specialised in wire products

The workers had marched from the Splott area of the city to the Hilton Hotel to demand more information from the steel firm's receivers, KPMG.

The ASW plant closed in July with the loss of more than 800 jobs.

They are angry that they still have not been told anything about potential buyers for ASW.

It is possible a buyer could safeguard steel-making at the plant, but KPMG have so far refused to give out any details.

They are currently involved in negotiations with a company which they say must remain anonymous at this stage.

Rhodri Morgan: Talks with receivers

That has frustrated workers who want to know whether or not to look for new jobs.

Many said this is the last straw, and has made losing their jobs and their pensions even more difficult to accept.

Last week, Assembly First Minister Rhodri Morgan warned that intense speculation over a possible buyer for the ASW plant in Cardiff could damage sensitive negotiations.

Mr Morgan - with a background in economics - stepped into the round of rumours about who was in talks with KPMG.

"Everyone has to be mature and patient. They (the bidders) could walk away if there is too much questioning of this type," Mr Morgan said.

Breaches of business confidence binding the talks could damage any chance of the 800 redundant ASW workers returning to work at the Cardiff plant, he warned.

Mr Morgan told BBC Wales: "There is a confidentiality clause and we cannot breach that and I will not push the receiver on that as the proposed buyer could walk away.

'Confidentiality clause'

"That will not contribute a single extra job for ASW workers who are hoping to get their jobs back in steel-making in Cardiff."

He added: "I have to ask all those workers in an incredible state of anxiety over this to remain patient for a few more weeks."

Officials from the Iron and Steel Trade Confederation union were alarmed to be told their ASW members were "unsecured creditors".

This means they will not receive any money owed to them from a new owner of the plant.

The 800 ASW workers who lost their jobs in July were dealt a double blow when it transpired there was a massive shortfall in their final-salary pension scheme.

Situation unclear

Receivers KPMG have confirmed they are holding exclusive negotiations with a potential buyer, which are likely to last some weeks.

There are hopes that a buyer could re-employ some of the workers, but the situation remains unclear.

Mr Morgan and other senior Welsh politicians and union leaders met on Thursday with KPMG representatives to discuss what stage the talks had reached.

The first minister remained tight-lipped over the details of the talks but did explain the receivers had been made offers of assistance by the assembly in areas not covered by strict European Union trade rules.