1 of 1
Story summary
- The UK government will acquire Speciality Steel UK to protect about 1,300 jobs.
- Business Secretary Jonathan Reynolds said the purchase will cost around £350 million from the £2.5 billion steel fund.
- The state has been paying workers £3.5 million each month while production remains halted.
- A Norwegian bid from Blastr Green Steel was rejected because of financing and taxpayer-protection concerns.