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THE


REFRACTORIES ENGINEER


Business Secretary chairs British Steel Support Group & visits company in the steel supply chain


The British Steel Support Group met 3 June 2019, as part of ongoing work to help secure the long-term future of steel production at Scunthorpe, Skinningrove and on Teesside.


Business Secretary Greg Clark chaired the meeting, which brought together representatives from British Steel, the government, local MPs, trade bodies, trade unions, as well as local leaders and the Local Enterprise Partnerships.


The group reaffirmed its commitment to British Steel, and its ongoing efforts to leave no stone unturned to support the Official Receiver in finding a suitable buyer.


At the meeting, it was also agreed that there would be a sub-group formed of suppliers and customers, led by Stephen Phipson, Chief Executive of Make UK, which will focus on companies in British Steel’s customer and supply chain.


Members of the group praised the commitment of British Steel’s workforce who continue to reach record levels of steel production, despite the challenging time that workers currently face.


Following the meeting the Business Secretary, accompanied by Stephen Phipson, Chief Executive of Make UK and Gareth Stace, Director at UK Steel, visited Bridon-Bekaert in Doncaster, a major customer of British Steel to discuss the role British Steel plays as a key supplier. The wire rope producer demonstrated how it takes steel rods produced at British Steel’s Scunthorpe site, which the Business Secretary saw being produced on his recent visit to the site’s Rod Mill, and turns them into specialist wire ropes, used the world over.


Business Secretary Greg Clark said:


“Having worked with British Steel, and visited and met with management and staff at Scunthorpe, Skinningrove and on Teesside, I wanted to convene the British Steel Support Group to harness the passion and experience of everyone in the group to help secure the future of steelmaking at these sites.


“Our first priority is to continue to support the Official Receiver through the sale process as he aims to find a suitable buyer for the company, and to safeguard jobs. We have agreed to meet on a regular basis as part of that endeavour.


“We also send our thanks and appreciation to British Steel’s highly skilled and talented workforce who, despite facing an understandably worrying time, have continued to lead the company to record levels of steel production – testament to their commitment and hard work.


“The world will always need steel and British Steel is amongst the best in the world; this was clearly demonstrated in my visit to Bridon Bekaert, where British Steel is used to manufacture the highest quality product which is then exported across the world.


“Our support group brings together representatives from the company and wider industry, trade unions and local leaders, and each and every one of us is steadfast in our commitment to seeing steel production continue well into the future.“


As always, we have had a very busy year of activity in worldsteel. We recently concluded a global economic modelling exercise with Oxford Economics that found that in 2017 the steel industry sold US$2.5 trillion worth of products and created US$500 billion value added. For every $1 of value that is added by work within the steel industry itself, a further $2.50 of value-added activity is supported across other sectors of the global economy because of purchases of raw materials, goods, energy and services. This generates over US$1.2 trillion of value added”.


To view the full world steel in figures 2019, go to worldsteel.org


Encouraging levels of interest in purchase of British Steel


A number of bids have been made for British Steel following encouraging levels of interest in the sale of the business.


Although the company is in liquidation, it continues to operate as normal and the Official Receiver’s focus remains on finding a buyer for the whole company.


Gerald Reichmann, British Steel’s CEO, said: “I am pleased to say there has been an encouraging level of interest in the sale of our business from a number of bidders.


“Due to the complicated nature of the group and its businesses, the evaluation and clarification of the offers received will take time. Further engagement with the interested parties and stakeholders will likely take a couple weeks before a further announcement on the sale process will be made.


“We remain committed to trying to secure the long-term future of the overall business, and we continue to trade and supply our customers as normal during this process.


“The British Steel Support Group, chaired by the Business Secretary, Greg Clark MP, and comprising local politicians, British Steel management, trade unions and sector representatives continues to meet regularly.


“We are incredibly grateful for the ongoing commitment and dedication of our colleagues who continue to produce record levels of our high- quality products for our valued customers during this process.”


Company News


World Steel in Figures 2019 now available


The World Steel Association (worldsteel) has published the 2019 edition of World Steel in Figures. The publication provides a comprehensive overview of steel industry activities, stretching from crude steel production to apparent steel use, from indications of global steel trade flows to iron ore production and trade.


Edwin Basson, Director General of worldsteel, said, “The steel industry remains at the heart of global development. In our April Short Range Outlook, we forecast that in 2019 and 2020 global steel demand was expected to continue to grow, but growth rates would moderate in tandem with a slowing global economy. However, uncertainty over the trade environment and volatility in the financial markets continue and could pose downside risks to this forecast. At the time of writing this, nothing has changed.


July 2019 Issue


13


www.irengineers.co.uk www.ireng.org


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