Steelmakers call for cheaper electricity bills to stay competitive, as Europe reaps benefits October 8, 2019 Steel companies in the UK pay nearly twice as much for electricity than their counterparts on the continent, despite the industry facing unprecedented challenges in Britain. British steelmakers face electricity prices 80 per cent higher than their direct competitors in France, and 61 per cent higher than in Germany, according to research. Read more: British [...]
More than 400 jobs on the line as Tata Steel announces Newport factory closure September 2, 2019 Hundreds of jobs are at risk at two UK steel plants after owner Tata Steel said it would shut down part of its operation. Tata said it planned to close its Orb Electrical Steels site in Newport, after looking to try to sell the plant for the last 15 months. The factory produces electrical steel [...]
Insurance giants in talks to buyout £10.5bn British Steel Pension Scheme June 29, 2019 The board of the £10.5bn British Steel Pension Scheme (BSPS) are in talks with a number of insurance giants to sell it. Trustees of the BSPS have begun discussions to offload the scheme two years after receiving £550m to rescue the steel firm, according to Sky News. Read more: FCA crack down on defined benefit [...]
British Steel collapse: Aftermath could have ‘tsunami-like’ effect on industry May 22, 2019 To understand the effect British Steel’s collapse could have on its native Scunthorpe, just look at a map. The steelworks is almost as big as the town itself. Britain’s industry-reliant communities such as Port Talbot, Tofaen and Stockton-on-Tees have already seen the highest rise in personal insolvencies of anywhere in the country over the last [...]
Tata Steel cuts 720 jobs over UK’s “cripplingly high electricity costs”, slams government for failing to tackle rises July 16, 2015 The government has been slammed for failing to tackle “the UK's cripplingly high electricity costs,” which Tata Steel claim have left it no choice but to make 720 UK jobs redundant. Most of the jobs are being cut from its steel bar-making plant in Rotherham, South Yorkshire, which has been underperforming because of [...]
The UK’s first national steel strike in 30 years could happen this month after Unite schedules Tata Steel action for June 22 June 8, 2015 The UK is facing its first national steel strike for 30 years, after union members voted for action against Tata Steel. Unite the union announced today the strike – agreed last week – would go ahead on June 22. It is part of an ongoing dispute over pensions, with the manufacturer telling workers [...]
Tata steelworks cuts 400 jobs due to “uncompetitive” energy costs July 1, 2014 The Tata steelworks in Port Talbot is set to shed 400 jobs, with chief executive Karl Koehler saying the moves were necessary for the company to remain competitive. High business rates and rising energy costs were cited as reasons for the job losses. "Steel demand and prices are likely to be under pressure for some [...]