Steel producer Sheffield Forgemasters is set to be nationalised in a £2.6m deal with the Ministry of Defence (MoD) to secure the supplies of specialist steel for defence applications.
The government acquired the historic steel firm for 121 pence per share, equating to total consideration of £2.56m. Up to £400m will be injected into the business over the next decade to replace critical equipment and infrastructure required for its military production capacity. Plans include a new heavy forge line and building, a flood alleviation…
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