Tag #Uk Steel Industry

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news.sky.com
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BlackRock Backs Controversial Liberty Steel Rescue Plan

BlackRock is providing up to £75 million in financing to Liberty Steel UK, potentially saving 1,500 jobs in South Yorkshire, as the company attempts a pre-pack administration to resolve its debt issues; however, this may face creditor opposition.

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politico.eu
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UK Government Takes Control of Steel Plant Amidst Trade War and Political Pressure

British Prime Minister Keir Starmer intervened to take effective state control of Britain's last virgin steel plant from its Chinese owners in response to Donald Trump's tariffs, aiming to counter the political threat from Nigel Farage's Reform UK and address the concerns of working-class voters.

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news.sky.com
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UK Government Intervenes to Save British Steel

Facing closure due to cancelled raw material orders by its Chinese owner, Jingye, British Steel's Scunthorpe plant is now under effective government control following emergency legislation passed Saturday, with officials working to secure supplies and ensure staff payment; the plant's survival remai...

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edition.cnn.com
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UK Government Takes Control of British Steel Plant

The UK government took control of British Steel's Scunthorpe plant on Saturday, averting its closure by Chinese owner Jingye Group, preserving 3,000 jobs and the UK's primary steelmaking capacity after Parliament passed an emergency bill.

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arabic.cnn.com
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UK Government Seizes Control of Last Primary Steel Plant

The UK government assumed control of Britain's last primary steel plant, owned by Jingye Group, averting its closure and saving 3,000 jobs due to the plant's \$910,000 daily losses and the absence of raw materials. This prevents the UK from becoming the only G7 nation without primary steel productio...

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dailymail.co.uk
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US Tariffs Threaten £400 Million in UK Steel Exports, Jeopardizing Thousands of Jobs

The US is imposing a 25% tariff on steel and aluminum imports, impacting UK exports worth £400 million annually and threatening 75,700 jobs in the steel sector and its supply chain, worsening the UK's potential recession.

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theguardian.com
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Liberty Steel Faces Liquidation, £340m Loss in South Yorkshire

Liberty Steel's South Yorkshire operations, employing 1,450, reported £340 million in losses over four years, prompting a union's call for owner Sanjeev Gupta's resignation and facing a July 16th deadline to avoid liquidation amid a broader UK steel industry crisis and a fraud investigation.

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bbc.com
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UK Government's Scunthorpe Steelworks Intervention Sparks Outrage from Former Tata Workers

The UK government's emergency takeover of the Chinese-owned British Steel plant in Scunthorpe, preventing its closure, contrasts sharply with its support for Tata Steel's transition to greener steelmaking in Port Talbot, resulting in 2,800 job losses; former Tata workers express frustration and ange...

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dailymail.co.uk
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UK Government Secures Raw Materials, Averts Shutdown of Scunthorpe Steelworks

The UK government purchased raw materials, including a 55,000-tonne coal shipment, to prevent the shutdown of Scunthorpe's blast furnaces, averting a crisis that threatened 3,000 jobs and the UK's last blast furnace operations.

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us.cnn.com
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UK Government Takes Control of British Steel Plant

The UK government took control of British Steel's Scunthorpe plant on Saturday, averting its closure by Chinese owner Jingye Group, preserving 3,000 jobs and the UK's primary steelmaking capacity amidst \£700,000 daily losses and market challenges.

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theguardian.com
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UK Government Seizes Control of British Steel Plant Amidst Chinese Owner Dispute

The UK government took emergency control of British Steel's Scunthorpe plant after its Chinese owner, Jingye, stopped ordering raw materials and rejected a \£500 million support offer, risking over \£1 billion in economic losses and thousands of jobs.

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Showing 1 to 11 of 11 results