Steel Crisis: Tata Buyout Consortium 'confidence' Over Help

[mikey4444]

For Tonyav, and others :::

http://www.bbc.co.uk/news/uk-wales-36099750

Lets hope this is some light at the end of a very dark tunnel.

[janzman]

A troublesome time for all concerned but here's an example of a supremely successful heavy engineering and steel producing company that was the subject of a Management Buyout in in 2005

https://www.sheffieldforgemasters.com/sfm/news/2007/08/shares-buyback

[mikey4444]

Seems to have been a success janzman !

The main problem with Tata is its huge pension fund. The Government may need to step in to protect that, before a major stakeholder comes forth with some more money.

[Togo]

The steel industry is a special case. I and many others do not agree with nationalised industries, and feel that the free market is the way. Unfortunately due, in part to successive Government policies both Labour and Conservative, the steel industry is not operating in a free market. We cannot allow our defence or strategic capabilities to become beholden to the Chinese, or indeed to the US or Germany.

[mikey4444]

Well said Togo ! There are far too many that are of the opinion that our important infrastructure projects should be constructed by foreign firms, with imported materials.

If HS2 ever does get started (doubtful I know) it will need masses of steel, and that should be British steel, not some second-rate crap from the other side of the world. British jobs for British people !

[naomi24]

//British jobs for British people ! //

Yeahhh! Halt immigration! ;o)

[Togo]

Ta mikey, we at least agree on that. An accord has been established.

[mushroom25]

wasn't it Sheffield Forgemasters that produced a certain middle eastern supergun, Janzman?

[mikey4444]

Naomi...very few of the worker at Port Talbot are immigrants !

yes, it is nice to agree once in a while Togo.............at least we "Welsh" are standing up for our fellow citizens, unlike some of the usual suspects on here !

[naomi24]

Ah, so British jobs for British people only applies to Port Talbot, Mikey. I see. ;o)

[mikey4444]

Rollocks Naomi ! Steel jobs are mostly done by the existing workers at the old British Steel plants.

But I have no problem with foreign workers coming into Britain, to take the jobs that our own lazy and indigenous dole bludgers won't take, a point that I have made many times on here, so please don't try to twist my words.

Britain needs a sustainable manufacturing industry, and steel is essential to that. As Togo has rightly pointed out, we cannot allow our defence or strategic capabilities to become beholden to the Chinese, or indeed to the US or Germany.

[naomi24]

:o)

[mikey4444]

Glad to be of service Naomi !

...I am going to try one of smiley face things, but I'm not very good at them

.....:o)

Hey it worked !

[naomi24]

Thassa boy! ;o)

[mushroom25]

//Britain needs a sustainable manufacturing industry, and steel is essential to that.//

britain's steel output is a tiny fraction of the total global steel production, and at least one third of that (per year) is lying unused. the chinese can make steel at a fraction of our cost but that's not the problem as most of our steel comes from the EU. EU countries can also make steel considerably cheaper than the UK, principally because of the swingeing cost of energy in this country, not to mention the completely unrealistic environmental targets and taxes (introduced by, guess who....?)

so UK steel production is not sustainable, nor will it be unless a way can be found to mitigate the costs that make the UK uncompetitive. even then, because of the tiny production level the UK doesn't make the right kind of steel that most of our manufacturing industry needs.

[Svejk]

mikey4444

/// British jobs for British people ! ///

Beyond parody.

[naomi24]

^Haaaa!

[tonyav]

Thanks for the link, mikey. Theres hope yet.

[mikey4444]

Yes, lets hope so Tony...what a pity that some others can't be glad of this news though.

[jourdain2]

I'm very pleased to hear this, wish it extended to Teeside and other plants though. As Togo says, steel is a special case.

[mikey4444]

jourdain2....quite right.

What amazes me about this subject, is that the very people that accuse me, and others being "anti-British" are the very ones that wish our own steel workers to be thrown on the dole, in favour of foreigners hanging on to their jobs !

You couldn't make it up !