武平| 盐田| 沂水| 洪泽| 同心| 石景山| 莘县| 鱼台| 汉南| 泰兴| 五河| 理塘| 名山| 蒲城| 新竹县| 顺昌| 平南| 武定| 来宾| 申扎| 梨树| 府谷| 全州| 兴和| 长泰| 南通| 融安| 黔西| 康乐| 望江| 南安| 辉县| 宜兰| 唐县| 民乐| 合作| 射阳| 灵川| 渭源| 土默特左旗| 白朗| 胶南| 甘孜| 绥化| 新城子| 峨边| 顺义| 兴城| 德阳| 晋州| 丰润| 巨野| 承德市| 黎平| 香河| 邛崃| 清丰| 赤水| 德惠| 进贤| 青川| 郏县| 东方| 忻城| 昂昂溪| 楚州| 岚山| 蒲县| 邱县| 韶关| 互助| 莱州| 小金| 潜江| 鹿泉| 清丰| 泊头| 响水| 新建| 修水| 八一镇| 甘洛| 仙桃| 合浦| 凤城| 巴马| 如东| 铜鼓| 文县| 理县| 博兴| 旬邑| 纳溪| 方山| 普安| 开化| 贞丰| 歙县| 南宁| 徐闻| 麟游| 长白| 南沙岛| 贡觉| 固原| 贵溪| 滑县| 丰台| 忠县| 铜陵县| 江油| 红岗| 辽源| 景县| 彭阳| 临武| 洪泽| 宽城| 鄂州| 合作| 宝丰| 湘潭县| 青龙| 邳州| 佛冈| 白银| 衡水| 蓬莱| 泽州| 张湾镇| 康乐| 惠山| 靖宇| 苍南| 壤塘| 林州| 堆龙德庆| 榆社| 库伦旗| 兴文| 城步| 长白| 盈江| 兴国| 井陉矿| 田林| 新巴尔虎左旗| 江都| 石拐| 日土| 密云| 富宁| 大邑| 利津| 通榆| 内江| 白河| 莒南| 达坂城| 托里| 宁强| 涉县| 铁山| 西盟| 胶南| 叶城| 高唐| 敦化| 台江| 腾冲| 邗江| 三水| 洪江| 饶阳| 黄岛| 蛟河| 莱山| 宁阳| 固原| 甘肃| 金佛山| 滦平| 宜章| 南山| 陆良| 平房| 苍南| 沙县| 下陆| 东阿| 浪卡子| 汶川| 镇巴| 特克斯| 文昌| 达县| 金山屯| 青县| 盐池| 吉木乃| 福清| 曲松| 三水| 儋州| 户县| 甘棠镇| 永济| 邱县| 南芬| 平坝| 吴中| 锦屏| 巩义| 玛沁| 苍溪| 赫章| 图木舒克| 吐鲁番| 叶县| 高密| 乌尔禾| 临颍| 普宁| 巩留| 滑县| 江苏| 堆龙德庆| 乌达| 荆门| 津市| 金山屯| 邹平| 和县| 英德| 新会| 叶城| 平定| 汉阳| 阜新蒙古族自治县| 三河| 慈利| 襄汾| 平安| 繁峙| 宝安| 淮安| 高唐| 黄石| 苍梧| 中阳| 营口| 肥城| 鲁山| 安新| 和县| 革吉| 水城| 临川| 德格| 大连| 三台| 沧县| 安远| 五通桥| 创业资讯
Global EditionASIA 中文双语Fran?ais
World
Home / World / Europe

Turkish bidder poised to buy British Steel

By EARLE GALE in London | China Daily Global | Updated: 2019-10-13 09:13
British Steel's main production facility in Scunthorpe, Lincolnshire, Britain, earlier this year. SCOTT HEPPELL/REUTERS
宠物论坛 ”(记者晋浩天通讯员蒋佳倩)(责编:王静、常雪梅) 武汉女人 音乐不是“最后的战役”9月16日深夜,周杰伦2019最新单曲《说好不哭》发布,创下上线两小时收入破千万的成绩,在多数同龄及同期艺人间已属罕见。 母婴在线 此行回到汕头,他不仅感受到浓浓乡情,更看到家乡的发展变化。 思维车 栗江村 创业 李鹊镇 武汉论坛 拉普乡

Investment arm of nation's armed forces pension fund set to win bid

British Steel, one of the United Kingdom's most iconic companies and the direct descendant of its once-nationalized steel industry, is set to be sold to a Turkish buyer.

The company, which is all that remains of the UK's steel manufacturing industry that employed 310,000 people at its zenith in the early 1970s, is expected to be bought by Ataer Holding, the investment arm of Turkey's armed forces pension fund in the coming days.

An announcement from the official receiver is anticipated imminently, the BBC said on Thursday.

British Steel today has around 5,000 employees, of which 3,000 work at the company's main production facility in Scunthorpe in the English county of Lincolnshire and another 800 work on Teesside in northeast England.

British Steel, which is currently owned by private investment company Greybull Capital LLP, has said its workforce, and an additional 20,000 employees in the supply chain, are at risk of losing their jobs if a suitable buyer cannot be found.

If Ataer Holding is announced as the preferred bidder, it will try to bring British Steel out of the insolvency it has languished in since it was placed in compulsory liquidation in May, when the official receiver was appointed to manage its aff airs and find a new owner.

Ataer Holding, the investment vehicle of the Turkish Armed Forces Assistance Fund, which is also known as Oyak, is already experienced in the steel industry, and holds an almost 50 percent stake in Erdemir, Turkey's biggest steel producer.

Professor Barbara Shollock, head of the engineering faculty at King's College London, told Radio 5 Live's Wake Up to Money program on Thursday that the proposed sale made good sense.

"The British steel industry is highly regarded. The products that they make are high-value and high-quality," she said. "Perhaps, by joining in with a stronger European presence (the Turkish buyer) might feel that they are consolidating their market and broadening their opportunities."

She said steel is an industry that produces materials for other manufacturers, including those in the rail, automotive, and construction sectors, and its customers require strong foundations.

British Steel's main customer is state-owned Network Rail, which buys 100,000 tons of steel for the nation's train tracks.

The Financial Times noted that Oyak's chairman, Mehmet Tas, is a former army general and said the company's annual general meeting in May was attended by Turkey's defense minister and the head of the country's armed forces.

The paper said the company, which was formed in 2005, has made investments in industries including agriculture, cement, energy, and mining and has also entered into a joint venture with the French automaker Renault.

The FT said Oyak wants to become a major player in the global steel industry and sees the purchase as a first step in that quest.

Senior officials with the Unite union, which represents British Steel workers, met with the administrator on Thursday to talk about the proposed sale.

 

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
高沟村 马鬃岌 务川 满德堂乡 照澜院 江苏锡山区东湖塘镇 兴化 忽雷山 武家村委会
顾莲峙 隧道北 第二中学 三黄埂 北教场坡 明光桥南 周家堡 敬安镇 新滘大
国华镇 石油新村 搬运公司 黎厝 霞葛镇 贯云石 石板凳镇 柏树头 雷家院子 萧家营
https://www.whr.cc/bbsitemap.htm