China ‘strongly dissatisfied’ following decision to nationalise British Steel
A steel worker at one of the blast furnaces at the British Steel site in Scunthorpe, Lincolnshire PA Archive Prime Minister Sir Keir Starmer said on Thursday:…
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Summary
China’s government says it is “strongly dissatisfied” with the decision to nationalise British Steel. British Steel was previously owned by the Chinese company Jingye. The Department for Business and Trade said the move was essential to maintain steel production at the company’s site in Scunthorpe, Lincolnshire, to protect both the company’s future and UK supply chains.
Furthermore, But Parliament was recalled on a Saturday in April last year to approve special measures legislation to keep the plant open. However, China’s Ministry of Commerce (Mofcom) said the move dealt “a severe blow to Chinese companies’ confidence in investing in the UK”. Following Thursday’s nationalisation, a new leadership team was appointed to focus on stabilising the business and turning it into a “commercially sustainable, low-carbon enterprise”, the UK Government said.
In addition, The company had previously planned to close its Scunthorpe blast furnaces in North Lincolnshire.
Cross-referenced from 2 sources.
Factual coreconfirmed by several independent voices
China’s government says it is “strongly dissatisfied” with the decision to nationalise British Steel.
reliability low1/2 sourcesBritish Steel was previously owned by the Chinese company Jingye.
reliability low1/2 sourcesThe Department for Business and Trade said the move was essential to maintain steel production at the company’s site in Scunthorpe, Lincolnshire, to protect both the company’s future and UK supply chains.
reliability low1/2 sourcesBut Parliament was recalled on a Saturday in April last year to approve special measures legislation to keep the plant open.
reliability low1/2 sourcesHowever, China’s Ministry of Commerce (Mofcom) said the move dealt “a severe blow to Chinese companies’ confidence in investing in the UK”.
reliability low1/2 sourcesFollowing Thursday’s nationalisation, a new leadership team was appointed to focus on stabilising the business and turning it into a “commercially sustainable, low-carbon enterprise”, the UK Government said.
reliability low1/2 sourcesThe company had previously planned to close its Scunthorpe blast furnaces in North Lincolnshire.
reliability low1/2 sources
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