I’ve just come off the phone to Secretary of State Greg Clark regarding British Steel and wanted to give you a quick update on the latest information:
✅ Thanks to the hard work of staff and the Government-backed indemnity in place, the company continues to operate as normal. Staff continue to be paid and no job losses are planned.
✅ Further to the letter to the Secretary of State I sent last week, I’m pleased to confirm that local training provider TTE will be paid for the apprentices they support at British Steel, allowing those apprenticeships to continue
✅ The priority continues to be securing a buyer for the whole business and negotiations with potential buyers are ongoing. Greg Clark has been meeting some of those in Europe and Asia this week and I’m pleased he has made it clear to them that the Government are prepared to support any bids that secure the future of the company and protect jobs in Teesside and across the UK.
✅ I also wrote to Greg regarding the Government’s support for the fantastic work the Materials Processing Institute in South Bank do on steel innovation, developing work leading steel products. The pace of innovation is simply incredible with two-thirds of the steels made in Britain today not having existed just 15 years ago. We discussed this again today and the importance of the Institute’s work to the future of the industry.
✅ As you may have read in the media, Greybull, the former owners of British Steel, have expressed an interest in buying the Lackenby and Skinningrove sites. Our overwhelming priority is supporting one of the bids for the whole company, as this is the best outcome for protecting jobs and British steel-making. I’ve been clear that Greybull needed to step out the way so that a buyer invested in the future of the industry could be found. Greybull cannot now be cherry-picking the bits of the company they now think they can make a quick buck from. I look forward to hauling Greybull before our public Select Committee in the Autumn to expose their failings.
✅ The planned summer maintenance at Teesside Beam Mill is on track and will go ahead as planned. This is a usual part of operations, taking place every year, to ensure everything is in good and safe working order.
✅ Together we continue to work together in leaving no stone unturned to secure a future for the business, protecting thousands of jobs at a key British industry. I look forward to speaking in tomorrow’s steel debate in Parliament to keep the pressure on.
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