Unions seek deal as Jingye proposes 'ambitious' British Steel plan

摘要

China's Jingye Steel Group has “ambitious plans for British Steel” which it plans to discuss with unions,employees, government and other stakeholders over coming weeks, a spokesman for Jingye saidFriday. But unions are unhappy with the prospect of job cuts and said detailed discussions will benecessary “to get a deal over the line.”Jingye, which under the terms of an existing sales contract has until March to conclude a GDP 50 million($64 million) takeover bid for British Steel, gave no details of its plans to reenergize the 3 million mt/yearcapacity Scunthorpe, UK–based steelmaker which entered compulsory liquidation last May. However, itannounced late last year that it would invest $1.2 billion in British Steel.