The new Russian owners of a Newport steel company which laid off 390 staff when it went into administration could reinstate some jobs.
Alphasteel, which closed suddenly in December, has been bought for more than Ј50m by steel firm Libala.
It is understood production will start again with some jobs brought back.
Workers at the plant, which has been in Newport since 1974, were sent home without their wages when Alphasteel closed before Christmas.
Chris Morris of administrators Begbies Traynor said: "We are pleased to have reached an agreement with Libala, Identity fraud hits net telephony ...
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"It is our understanding that Libala intends to recommence production at the plant in due course and that some of the jobs will be restored."
Before going into administration Alphasteel employed around 420 people.
Since its insolvency there have been 396 redundancies, with just over 20 staff remaining at the site to maintain the plant and machinery.
Libala is a company affiliated to Russian investor Mirinvest.
(BBC)
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