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Worker Union Update on Jingye Deal for British Steel

Steel News - Published on Wed, 26 Feb 2020

Image Source: Rasset
Grimsby Telegraph reported that union leaders have dismissed the idea that negotiations to complete a sale of British Steel are approaching a cliff edge as talks continue between the Government and potential new owner the Jingye Group. Scunthorpe works multi-union committee chairman r Paul McBean said it is not the case that a deadline is approaching this week. He said "We are continuing to talk with the Government as negotiations progress. Business Secretary Alok Sharma visited the Scunthorpe site as soon as he was able to last week after being appointed. He spoke with the management team and unions to show the government is still committed and will be taking over the regular update calls that Business Secretaries Greg Clark and Andrea Leadsom have previously managed. There is no 70 day deadline coming up. There is no end or cliff edge to the negotiations approaching. This deal is a massive undertaking so it is natural for it to take time. No new contracts have been sent out to staff yet to the best of my knowledge but hopefully it shouldn't be too much longer."

Mr McBean added "I have spoken with unions at the French site and they aren't posing any opposition to the deal. It is down to the French government to agree."

A spokesman for the Official Receiver said: "The Official Receiver and Jingye are continuing to work to conclude the sale of British Steel as quickly as possible. The Official Receiver considers that the Jingye offer is the best deal for creditors."

Source :

Posted By : Nishith Sharma on Wed, 26 Feb 2020
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