Workers at troubled Thamesteel have not been paid.

They were due to get their wages today (Wednesday) but were told yesterday afternoon the company "will not be able to meet the January 2012 salary payment date".

A meeting was held with union representatives at the site in Brielle Way, Sheerness, last night.

There is speculation that the 400 or so staff have been told if they do not accept a proposed 10% pay cut, an investment deal will not go ahead and the firm could be put into administration.

However, this has not been confirmed by Thamesteel or its Saudi-based parent company Al Tuwairqi.

It is thought major international oil firm Trafigura is close to concluding an investment deal.

A spokesman for Community Union, which represents workers, said: "We are still in close contact with the management at Thamesteel and our efforts our focused towards securing a future for the business."

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