The U.K. government has announced it will acquire the country’s third-largest steel producer, reports The Guardian.
The purchase, announced by Secretary of State for Business, Innovation, Science and Trade, Jonathan Reynolds will block the proposed sale of Speciality Steel U.K. (SSUK) to the Norwegian steel startup Blastr Green Steel.
SSUK, part of Sanjeev Gupta’s Liberty Steel, has been in liquidation since last year. The plant, which can make steel for the automotive, aerospace and defense sectors, employs 1,500 people.
The Guardian says Reynolds is stepping in after deciding Blastr’s proposal could not provide long-term stability, certainty and value for money.
The news marks a continued rough period for steelmaking in the U.K. In April, the British government took control of the British Steel Scunthorpe steelworks in April 2025, then announced in July that it was fully nationalizing the plant.
The Chinese industrial group Jingye Group that formerly owned the plant, had planned to close the site because it was not financially viable. Now, Jingye is seeking compensation from the British government.
The U.K. was fifth in global steel production in the 1960s, falling to 26th by 2023, but still employs some 37,000 people. China makes more than 50% of the world's steel now.
