Stories

Mon, 14 Sep 2026

Mon, 14 Sep 2026 Government set to nationalise troubled steel firm

Production at SSUK sites in South Yorkshire and the West Midlands was paused earlier this year.

* A plan to nationalise Speciality Steel's UK operations is being developed by the government
* The company, which employs around 1,300 people, has sites in Rotherham and Stocksbridge (South Yorkshire) and Wednesbury (West Midlands)
* Production was halted at the sites earlier this year due to financial difficulties
* The government took control of Speciality Steel UK last year after it was forced into liquidation by the High Court
* A bidder had expressed interest in acquiring the business, but the government rejected their proposal citing concerns over financing and protections for taxpayers
* Ministers will now develop a plan for public acquisition of the company, which would allow them to maintain control and explore future opportunities