Forgemasters to return to public ownership

“The only sensible decision we’ve heard about our steel industry for some years” says Sheffield TUC

 Sheffield Trade Union Council today welcomed the Conservative Government’s decision to secure the future of Sheffield Forgemasters by taking it back into public ownership.

“Finally the Government has seen sense and taken over Sheffield Forgemasters to secure its future with a £2.6M takeover bid from the Ministry of Defence.  It has been clear all along that privatising such a critically important infrastructure company as steel has been a disaster. In their own admission, the current owners said they were unable to secure funds to invest in the plant and secure the many skilled well-paid jobs that were at risk” said Martin Mayer Secretary Sheffield Trade Union Council.

“Privatisation of our steel industry has led to fragmentation, instability and a lack of secure planning and investment in this vital industry, and the loss of thousands of good skilled jobs. We cannot hope to survive as a modern industrial nation without a stable and growing steel industry. The Government’s takeover marks a significant and welcome turning point in the future of steel and we look now to similar plans for other parts of our steel industry such trouble-stricken Liberty Steel left high and dry by the collapse of Greensill’s shady private finance structure”