British Steel operations in U.K. and Holland have been bought by China's Jingye Group

摘要

Jingye Group, a Chinese steelmaker, has completed its buyout of British Steel, reviving a business that was placed into compulsory liquidation last May and saving more than 3,000 jobs. A press release said that the group completed the acquisition of British Steel's U.K. and Dutch assets from the official receiver, and confirmed it planned to invest ￡1.2 billion in the company. Some 3,200 staff have been offered contracts, while 400 others were told they would be made redundant when the sale closes. The deal includes British Steel's steelworks at Scunthorpe and U.K. mills at Teesside Beam Mill and Skinning rove, as well as subsidiary businesses FN Steel in the Netherlands and TSP Engineering. It does not include British Steel's French operations at Hayange, the acquisition of which is still subject to further negotiations with the relevant authorities in France and is hoped to be concluded separately. Jingye had recently said that it would buy British Steel's main plant in Scunthorpe, even though it had not had a reply from the French government about a French unit seen as a potential obstacle to the deal.