The owner of the Grangemouth petrochemicals plant says it could reverse Wednesday's decision to close it if "substantive" talks today yield union concessions.
Sources at Ineos were speaking to Sky News ahead of a meeting with Unite which began at 8am but they insisted that any agreement on re-opening the chemical side of the operation at the peace talks would have to be rubber-stamped by a full meeting of Ineos shareholders.
The company had announced that it could not continue to operate the loss-making petrochemicals division - leaving 800 jobs at risk at the plant with many more contractors facing the axe too.
Ineos also confirmed that while it was not planning to close down the oil refinery, which produces 80% of Scotland's fuel supplies, it would remain shut for now pending reassurances from Unite that there would be no strike action.
The union yesterday accused Ineos owner Jim Ratcliffe of deliberately engineering the chemical plant's closure.
It said it had put what it called a "plan to save jobs" to the company yesterday and Unite's Scottish secretary Pat Rafferty added: "The ball is now in the court of Jim Ratcliffe and the respective governments in Edinburgh and Westminster and we await their responses."
Ineos argued it was left with no alternative but to close the petrochemical business, which makes products used in the manufacture of household goods such as plastic packaging.
The firm cited a failure to persuade its staff to accept a survival plan, which included a pay freeze, ending of a final salary pension scheme and other changes to terms and conditions.
Ineos said white-collar workers such as admin staff had backed the plan but workers represented by Unite had rejected it.
Politicians had urged the two sides to resume talks to prevent the closure, while efforts are expected to continue to find a potential buyer in case the peace efforts fail.
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