Member

We will therefore engage with the official receiver’s sale process and develop a proposal for the public acquisition of SSUK. This will preserve strategic control and ensure that all credible future opportunities can be properly considered before irreversible decisions are taken. We are taking this step because SSUK occupies a unique place in the UK’s steel ecosystem. It offers specialist capabilities that have served advanced manufacturing supply chains, including in aerospace and defence; in other words, it is capable of supplying the growth-driving sectors of our economy—those that we have committed to supporting through our industrial strategy. SSUK’s strategic value extends well beyond its economic contribution. It lies in its specialist steel-making capabilities, which have historically produced products such as aircraft landing gear, helicopter rotors, missiles and munitions. It would not be right to let this go by default.