Government moves to nationalise Speciality Steel UK to protect 1,300 jobs

Подробности

An electric arc furnace at Speciality Steel UK’s plant in Rotherham. The steelmaker also has sites in Stocksbridge, Brinsworth and Wednesbury. Photograph: Bloomberg/Getty Images View image in fullscreen An electric arc furnace at Speciality Steel UK’s plant in Rotherham. The steelmaker also has sites in Stocksbridge, Brinsworth and Wednesbury. Photograph: Bloomberg/Getty Images Steel industry Government moves to nationalise Speciality Steel UK to protect 1,300 jobs Firm, once part of Sanjeev Gupta’s empire, fell into administration last year but has failed to find buyer

Prefer the Guardian on Google One of Britain’s steelworks is to come into public ownership after the government said it would take over Yorkshire-based Speciality Steel UK (SSUK).

Jonathan Reynolds, the business secretary, said officials would “work towards” acquiring the company to protect the jobs of its 1,300 workers in Rotherham, Stocksbridge and Brinsworth in South Yorkshire and Wednesbury in the West Midlands .

The insolvent steelmaker, formerly part of the tycoon Sanjeev Gupta’s industrial empire , fell into administration last year and its day-to-day operations have since been run by the government’s official receiver.

The Norwegian steel startup Blastr Green Steel had been in talks to buy SSUK, but hopes had faded over the summer for a private sector takeover after a deadline to finalise a deal passed in June.