{"id":71666,"date":"2020-02-12T12:19:27","date_gmt":"2020-02-12T12:19:27","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=71666"},"modified":"2020-02-12T12:19:27","modified_gmt":"2020-02-12T12:19:27","slug":"acquire-uk-british-steel","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/acquire-uk-british-steel\/71666\/","title":{"rendered":"Barret Steel confirms intention to acquire sites from British Steel"},"content":{"rendered":"<h2><a href=\"https:\/\/www.barrettsteel.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Barrett Steel<\/a>, the largest steel stockholder in the UK, has today (12 February) confirmed its intentions to purchase a number of British Steel UK distribution centres<\/h2>\n<p>The High Court placed British Steel into <a href=\"https:\/\/www.pbctoday.co.uk\/news\/hr-skills-news\/british-steel-compulsory-liquidation\/57369\/\" target=\"_blank\" rel=\"noopener noreferrer\">compulsory liquidation<\/a> on 22 May 2019. Despite its liquidation, it continued to trade and supply its customers.<\/p>\n<p>Barret Steel intends on acquiring a number of British Steel&#8217;s distribution centres immediately upon the sale to <a href=\"http:\/\/jingyesteel.com.cn\/about-108.html\" target=\"_blank\" rel=\"noopener noreferrer\">Jingye<\/a>.<\/p>\n<h3>Barrett Steel hopes to secure the Metal Centre sites, including:<\/h3>\n<ul>\n<li>Wolverhampton<\/li>\n<li>Dartford<\/li>\n<li>Newcastle<\/li>\n<li>Scunthorpe.<\/li>\n<\/ul>\n<p>Barret Steel also aims to acquire offices in Cheadle and Edinburgh.<\/p>\n<p>Barrett Steel is currently awaiting the sale of British Steel to be finalised. Discussions are continuing, but it has clarified that the sale between Jingye and Barrett\u2019s will only be completed once the sale between British Steel and Jingye is confirmed.<\/p>\n<h3>Jingye investment<\/h3>\n<p>On 11 November Jingye said that it planned to invest \u00a31.2bn into the company over the next decade. The deal is expected to save up to 4,000 jobs and end the uncertainty surrounding the future of British Steel.<\/p>\n<p>Completion of the sales contract is conditional on a number of matters, including gaining the necessary regulatory approvals. The parties are working together to conclude a sale as soon as reasonably practicable.<\/p>\n<p>Roy Rickhuss, general secretary of the steelworkers\u2019 trade union\u00a0<a href=\"https:\/\/community-tu.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">Community<\/a>, said: \u201cJingye are not just potentially acquiring a steel business, they would be taking on a dedicated and\u00a0skilled workforce, who even through the uncertainty of recent months have been breaking production records to give the business a chance.&#8221;<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Barrett Steel, the largest steel stockholder in the UK, has confirmed its intentions to purchase a number of British Steel UK distribution centres.<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[20347,676,882,283,32292,26264],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-71666","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-administration","8":"tag-construction","9":"tag-employment","10":"tag-finance","11":"tag-steel","12":"tag-steel-frame-construction"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Barret Steel confirms intention to acquire sites from British Steel<\/title>\n<meta name=\"description\" content=\"Barrett Steel, the largest steel stockholder in the UK, has confirmed its intentions to purchase a number of British Steel UK distribution centres\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/acquire-uk-british-steel\/71666\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barret Steel confirms intention to acquire sites from British Steel\" \/>\n<meta property=\"og:description\" content=\"Barrett Steel, the largest steel stockholder in the UK, has confirmed its intentions to purchase a number of British Steel UK distribution centres\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/acquire-uk-british-steel\/71666\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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