Provisional deal reached to buy British Steel
A tentative deal has been reached to rescue Scunthorpe-based British Steel from insolvency.
A Turkish military pension fund says it intends to take over British Steel, which employs 5,000 people, by the end of this year. The fund is called Onyak and it has an investment arm known as Ataer.
However, the Financial Times has reported that a productivity drive by British Steel's new owners could lead to several hundred job losses.
In an interview with the paper, Toker Ozcan, head of the mining metallurgy group at Onyak, would n... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...