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UK Steel Director Statement on Jingye Steel Sales Contract

Steel News - Published on Fri, 15 Nov 2019

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Commenting on the announcement that Chinese firm Jingye Steel has entered into a sales contract to purchase British Steel, Mr Gareth Stace, UK Steel Director General, said that “This announcement is positive news for British Steel and its workers. British Steel’s production facilities in Scunthorpe and elsewhere in the North East represent one third of the UK’s steel production and are a major strategic asset to our country; their loss would leave our manufacturing, construction and infrastructure capability in a considerably poorer state. Today’s announcement is a huge hurdle overcome on the way to delivering a sustainable future for this cornerstone of British industry. A commitment to long-term investment and production in the UK is absolutely essential and naturally must sit at the heart of any purchase that now goes ahead.”

He added “Government support will be critical in helping to deliver this and its efforts and interventions already provided to date are to be much welcomed. We must not lose sight of the longer term picture for the whole steel sector. It is vital we move on” from the current reactive approach, to one in which a shared, long-term strategic vision sits front and centre. Today we have launched an ambitious new manifesto for the UK steel sector that does just that. We urge politicians of every stripe to take note and take action."

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Posted By : Rabi Wangkhem on Fri, 15 Nov 2019
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