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UK government moves towards public acquisition of Speciality Steel UK to protect 1,300 jobs and steel capacity for missiles and munitions
The UK government will work toward public acquisition of Speciality Steel UK after concluding that a proposed private sale could not provide sufficient stability, certainty or value. SSUK's four sites in Rotherham, Stocksbridge, Brinsworth and Wednesbury support more than 1,300 jobs and can produce specialist steel used in aircraft landing gear, helicopter rotors, missiles, munitions and artillery casings. The announcement begins due diligence and planning rather than completing nationalization. Future ownership, investment and spending decisions will be made from existing budgets after the government assesses a sustainable long-term operating model.