In 1997, Newport secured what was then thought to be Europe’s largest-ever inward investment when the LG Group announced a £1.7 billion project creating 6,100 jobs, and supported by public sector grants. Facilities were built on the Celtic Lakes business and science park, but market conditions led to the semiconductor plant never opening, and the CRT plant eventually closed in 2003. In 2005 Irish radiator manufacturer Quinn Group bought the former LG Phillips building, which became its European base.
Industry in the east of Newport was formerly based at the Corus Llanwern steelworks, and although the rolling mill is still active, steel manufacture ceased in 2001. Permission has been granted to transform the 600-acre (2.4 km2) former steelworks site into a £1bn mixed-use development comprising housing, office and industrial space, public open space and a range of community facilities.
At the mouth of the River Usk, the Sims Metal Management plant hosts the world’s largest industrial shredder for scrap metal with access by road, rail and sea. The plant, which is also the world’s largest car crusher which was featured in the TV series ‘How do they do it’.
Newport Cattle Market, in the Pillgwenlly area of the city, closed in 2009 and was demolished to make way for a new supermarket.