British Steel to build more sustainable future with Jingye’s backing

Wednesday, 10 March 2021 15:09:43 (GMT+3)   |   Istanbul

UK-based steelmaker British Steel has stated that it is starting to build a more sustainable future as China’s Jingye Group has given backing and is committed to investment following the acquisition of British Steel in March 2020.

According to the company’s statement, Jingye Group’s investment will be made in new technology in the company’s drive to reduce emissions, maintain equipment, ensure production, reduce costs, support clean growth and protect and create new jobs.

In the year following the acquisition, the company has achieved significant operational improvements, launched new products, introduced 24-7 operations at its Teesside and Skinningrove mills and resumed operational control of Immingham Bulk Terminal.

“We’ve also started to turn losses into profits. We’re increasing production, reducing costs, growing into new markets and are well-placed to make a significant contribution to the UK’s economic recovery. We still need to overcome many challenges but the progress we’re making gives us great optimism,” the company stated.

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