The British Steel Industry, the one time powerhouse of the world, has been in a steady and downward spiral of gradual decline for a number of years, faced with a loss of sales to restrictive trading practices and cheap foreign imports, seriously undercutting the British product. Not least of all with the loss of a British Railway's rolling stock steel order to the Italians and more recently the order for steel for BAEs Warship order, being given to the French. All due to an EU ruling which says basically that a Government cannot discriminate against a tender from another company just because it's in another country. Which in turn could easily place British steel manufacturers at a certain disadvantage.
Now, it appears, there is a Ministerial promise of a order on the table for steel to build the railway tracks, for the HS2 Rail Link. Which should go to the steel works in Scunthorpe and help to preserve around 4000, skilled worker's jobs.
The Transport Secretary, Chris Grayling, is quoted as saying, the steel used in the £56bn project will be sourced from the UK.
The Scunthorpe plant, owned by Grey Bull Capital, a company turnaround specialist, purchased the works for a nominal £1 in May 2016, then set about pumping substantial resources and fresh life into the company. And assurances are in place, which guarantee the production of the two million tons of steel required for the rails project.
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