Redcar Blog

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British Steel Update

Following a British Steel Support Group conference call this morning with the Business Secretary, Labour and C-operative MP for Redcar, Anna Turley, said:

“The government and the Official Receiver continue to work at pace and exclusive talks with Ataer are progressing well. Confidence for a successful agreement remains high and the intention is for this to be confirmed in November, subject to all approvals being reached.

“There has been some media coverage suggesting that a Chinese company is trying to re-enter talks. Whilst the Official Receiver is in exclusivity with Ataer, the government continue to talk to anyone with interest.

“Ataer are speaking to all relevant parties and are continuing close engagement with special managers EY and the government. They have also invited the trade unions to Turkey to visit other sites that Ataer have turned around. It is reassuring to see Ataer’s credentials as long term investors looking at a generational business and not just short term return.

“I raised the issue of the Turkish military incursion in northern Syria and any impact of the British government halting arms sales to Turkey. The Minister made clear that this is a separate issue around an economic transaction and a long term investment commitment.

“Once again, I want to thank the workforce for their fantastic efforts to support this process and improve the chances of a successful deal. The company continues to trade as normal with full support from suppliers and customers.”