Jonathan Reynolds, the Business Secretary, has announced that the government intends to acquire Speciality Steel UK (SSUK), which employs over 1,300 workers across its sites in Brinsworth, Wednesbury, Rotherham and Stocksbridge.
SSUK manufactures specialist steel used across many industries, including automotive and defence. The company entered liquidation in 2025 after years of financial difficulties. Although there was a lead bidder, the government did not consider the proposal to provide long-term stability or be in the best interests of workers.
The Business Secretary concluded that the best solution was for the government to acquire Speciality Steel UK. Jonathan Reynolds said:
“We do not intervene in private companies lightly. But nor can we simply stand aside and allow the future of this company and over 1,300 jobs to be decided by default.”
He added that the government was committed to working with local leaders, workers and industry to plan the long-term future of the SSUK sites.
The Department for Business, Innovation and Trade will consult with the Official Receiver, the South Yorkshire Mayoral Combined Authority and local communities to analyse all options for the future of Speciality Steel UK.
The future of the British steel industry is an important part of the government’s industrial strategy. Many industries rely on a reliable supply of high-quality steel. For example, a modern warehouse equipment manufacturer requires steel for shelving, trolleys, packing tables and other essential equipment.
Although steel can be sourced from outside the UK, many companies prefer to support the UK steel industry and its supply chain.
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