UK Government to Work towards the Acquisition of SSUK
Business Secretary Jonathan Reynolds has announced that the Government will work towards the public acquisition of Speciality Steel UK (SSUK).
The acquisition will include considering a sustainable long-term future for SSUK as a speciality steelmaker and opportunities for regeneration.
Reynolds said: “We do not intervene in private companies lightly. But nor can we simply stand aside and allow the future of this company and over 1,300 jobs to be decided by default.
“Working towards public acquisition will keep options open while we work with local leaders, workers, industry and investors to determine the best long-term future for these sites, which could play a vital role in the future of the growth-driving sectors in our Industrial Strategy, including defence and advanced manufacturing.”
The company’s four sites employ 1,300 and have the capabilities to produce specialist steels for sectors such as automotive, aerospace and defence. Products previously manufactured by SSUK include: aircraft landing gear, helicopter rotors and missiles.
SSUK entered liquidation in 2025 following longstanding financial challenges, including the collapse of its primary lender, Greensill Capital, in 2021.