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    Market Segment

    March 11, 2020

    China's Jingye Group Buys British Steel

    Written by Sandy Williams

    British Steel is now owned by China’s Jingye Group and ready to begin a “new illustrious chapter” in the history of British steelmaking. The completed sale includes the steelworks at Scunthorpe, UK mills in Teesside and Skinningrove, FN Steel in the Netherlands and TSP Engineering. Jingye is continuing separate negotiations to acquire British Steel’s French operations in Hayange.

    “It has not been an easy journey since we first announced our intentions in November,” said Jingye CEO Li Hiuming. “But the longer I have spent in Scunthorpe, the more I have come to believe in the successful future of these steelworks and the employees that have made them famous throughout the world.”

    Sandy Williams

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