Rail News

Encouraging Levels of Interest in Purchase of British Steel

A number of bids have been made for British Steel following encouraging levels of interest in the sale of the business.

Purchase of British Steel

Although the company is in liquidation, it continues to operate as normal and the Official Receiver’s focus remains on finding a buyer for the whole company.

Gerald Reichmann, British Steel’s CEO, said:

I am pleased to say there has been an encouraging level of interest in the sale of our business from a number of bidders.

Due to the complicated nature of the group and its businesses, the evaluation and clarification of the offers received will take time. Further engagement with the interested parties and stakeholders will likely take a couple weeks before a further announcement on the sale process will be made.

We remain committed to trying to secure the long-term future of the overall business, and we continue to trade and supply our customers as normal during this process.

The British Steel Support Group, chaired by the Business Secretary, Greg Clark MP, and comprising local politicians, British Steel management, trade unions and sector representatives continues to meet regularly.

We are incredibly grateful for the ongoing commitment and dedication of our colleagues who continue to produce record levels of our high-quality products for our valued customers during this process.

Tags in this story

News categories

    28 Jun 2019
    Business as Usual as British Steel Undertakes Planned Annual Maintenance Programme
    28 May 2019
    Industry Insider Week 21 – 12 Must-Read Rail Stories
    11 Mar 2019
    13 Must-Read Rail News Stories – Industry Insider for Week 10
    07 Mar 2019
    British Steel Secures New Catalonia Rail Contract
    18 Feb 2019
    10 Must-Read Rail News Stories – Industry Insider for Week 7
    12 Feb 2019
    British Steel Secures New Long-term Supply Contract with Translink
    22 Jan 2019
    British Steel to Promote Premium Rail Offering at Rail Live! 2019
    08 Jan 2019
    British Steel Invests £1.4m in New Distribution Fleet
    Subscribe to Railway-News
    Get the latest contract alerts and Railway News emailed directly to your inbox.

    We respect your privacy and take protecting it seriously.

    Please tick to confirm you would like to receive emails we think may be of interest to you. We sometimes tailor the content you see to what we think you'll find interesting, and so monitor your interaction with our website and email content (find out more).