ISO 9001 & UKAS Registered, Electron Beam Services in the United Kingdom ISO 9001 & UKAS Registered, Electron Beam Services in the United Kingdom

16/09/16
A new report commissioned by the Welsh government has found that over 100,000 tonnes of steel will be required between 2017 and 2023 for infrastructure projects and public sector building in the country.

The document observed that the importance of the steel industry to the country as a supplier of products and major employer is well documented, going on to recommend that the use of UK steel be promoted as well as better identifying just where steel is required, the South Wales Argus reports.

Mark Drakeford, Wales’s finance secretary, said: “As a government, we are committed to doing everything we can to secure a long-term and sustainable steel industry here in Wales. The forecast demand for our future steel needs of our infrastructure and construction projects is set out in the report and will be updated every year. It gives Welsh and UK steel suppliers the confidence and evidence there is demand for their product from the public sector in Wales.”

Sadly, however, it has also just been reported that Tata Steel has suffered another loss in the three months leading up to June, falling £360 million into the red when a £370 million loss on the sale of its long products arm in the UK was included.

The sale of Port Talbot was suspended by the company back in July so it could have more time to explore a link-up with ThyssenKrupp, which could potentially help tackle overcapacity in the steel industry across Europe. The British Steel pension scheme is one obstacle to overcome, since it has a £700 million funding deficit.

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