UK to take emergency control of British Steel, with nationalisation on the table
- 12-Apr-2025
Britain moved to take control of British Steel and keep its blast furnaces open on Saturday, as a minister told an emergency parliamentary session that a full nationalisation of the UK’s last maker of virgin steel was becoming increasingly likely. The company, owned by China’s Jingye Group, employs 3,500 people at its Scunthorpe plant, whose […]
British Steel warns of 2,700 job losses
- 28-Mar-2025
China-owned British Steel said it could close its two blast furnaces as soon as June with the potential loss of up to 2,700 jobs, as U.S. tariffs and environmental costs threaten to damage its already struggling operations. British Steel, owned by China’s Jingye Group, has warned for years that steelmaking in Scunthorpe, north east England, […]
Turkish army pension fund to buy British Steel
- 16-Aug-2019
The Turkish military pension fund OYAK said Friday it had signed a provisional deal to buy British Steel after the UK steelmaker was forced into liquidation in May