A Delaware-based investment firm, EIG Global Trust, is reportedly among a group of international suitors vying to acquire Speciality Steel UK, one of Britain’s largest steel manufacturers. This firm, which
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The future of British Steel and the UK steel industry is in jeopardy as government officials consider a merger proposal involving British Steel and part of Speciality Steel UK, a
Wayne Bishop surveys the factory floor at Painter Brothers in Hereford, highlighting the advanced machinery powering its operations. Here, a CNC machine processes L-beams while a plasma cutter slices robust
The French government is preparing to initiate legal proceedings against British private equity firm Greybull Capital following accusations that it failed to honour significant investment pledges for the struggling steel
British Steel, the country’s last operational blast furnace, is caught in an escalating standoff between its Chinese owners, Jingye, and the UK government. The disagreement centres on a compensation demand
The UK government is reportedly exploring new legislation to erase nearly £1bn in debt accumulated by British Steel, a move aimed at making the company more attractive to prospective buyers.
British Steel has announced plans to recruit over 180 new staff as part of efforts to ramp up operations at its two blast furnaces. Less than a month after the
The UK government has announced a critical lifeline for British Steel’s Scunthorpe plant, following the delivery of a 55,000-tonne shipment of coking coal from Australia. The coal, which landed at
British Steel, a cornerstone of the UK’s industrial heritage, is at a critical juncture as it navigates a complex landscape of financial instability, environmental imperatives, and geopolitical challenges. The company,
The Chinese Embassy has launched a scathing attack on UK politicians, accusing them of “arrogance, ignorance and a twisted mindset” amid escalating tensions over the British Steel crisis. The diplomatic
British Steel stands on the brink of potential closure as it races against time to secure a taxpayer-backed rescue deal. The company, owned by China’s Jingye, has issued a stark
British Steel has announced the potential closure of its two blast furnaces at the Scunthorpe site, a move that could result in the loss of up to 2700 jobs. The
British Steel is set to abandon its plans for steelmaking on Teesside, dealing a significant economic blow to northeast England. The Chinese-owned manufacturer had initially proposed constructing a ‘green steel’
The Labour government is nearing a £600 million bailout agreement for British Steel, signaling a fresh commitment to resolving the long-standing impasse in negotiations with the company’s Chinese owner, Jingye.
