Some Steel Pensions Could Be Largely Frozen, Steve Webb Says

mikey4444 | 07:23 Sat 04th Jun 2016 | News

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http://www.bbc.co.uk/news/business-36426456

No, No, No !

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Old_Geezer

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Pension arrangements should never be changed (except with the consent of all concerned). Folk have relied on them to provide for the future. It's not like a saving fund for a rainy day, it's insurance of an adequate income when, having done your bit for society, you need to pass responsibility on to the younger generation. When companies have screwed up there...

07:42 Sat 04th Jun 2016

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EDDIE51

Tata was desperately unlucky when it took over Corus Steel ( The name for the privatised version of British Steel Corporation)
They paid nearly 50% 'over the odds' for it, funded almost entirely by debt , and just a year after the purchase the world financial crisis hit and almost wiped out the industry.
http://qz.com/650551/tata-steels-desire-to-get-rid-of-its-uk-business-shows-how-unlucky-its-corus-takeover-was/

mushroom25

//mushroom 25, ALL Steel making blast furnaces are run on Natural Gas NOT electricity. //

blast furnaces are indeed heated by natural gas, but they don't make steel, but raw iron. steel is a carbon-iron alloy and is made in an electric arc furnace. port talbot steelworks uses as much electricity as the city of swansea.

EDDIE51

Steel making process here,
http://www.tatasteelindia.com/products-and-processes/processes/steel-making-process.asp
The first two parts are the most energy intensive and use natural gas. Refining is in an electric arc furnace, it DOES use a large amount of electricity but far less than the main 2 processes that use natural gas. Post production heat treatment also uses gas.
I was once works metallurgist for a large steel using company. I have been on a technical tour of the steel works and seen it for myself.

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