UK confident of keeping British Steel going after taking control– www.channelnewsasia.com
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SCUNTHORPE, England: Britain expressed confidence on Monday (Apr 14) that it could secure enough raw materials to keep the blast furnaces at its last maker of virgin steel burning, after the government seized operational control from its Chinese owners.
Ministers said British Steel’s owners, China’s Jingye Group, had wanted to shut the furnaces at the Scunthorpe plant after they rejected a government funding proposal, which would have forced Britain to import steel instead.
The government recalled parliament at the weekend – the first Saturday recall since the 1982 Falklands War – to give it powers to direct the company’s board and workforce and to order raw materials.
By Monday morning, it had approved the appointment of an interim chief executive and chief commercial officer – both long-term employees of the plant – and said it had established that enough raw materials were in the country.
“We need to make sure we get it into the blast furnaces,” Treasury department minister James Murray said.
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