Oooohhh - this will stick in Bastard Boris' craw !!!

So the Government are to 'nationalise' a steel company - hmmm why not all of them !!!


Ministry of Defence to nationalise steel firm Sheffield Forgemasters
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Avital steel plant which makes parts for Royal Navy nuclear submarines will be nationalised, the Ministry of Defence announced today.

Unions welcomed the move for Sheffield Forgemasters, which traces its roots back to the 1750s and supplies crucial components for the Trident fleet of nuclear-armed boats.

The MoD said in a statement: “The Ministry of Defence has today launched an offer to acquire Sheffield Forgemasters International Limited (SFIL), allowing HM Government to refinance the company and secure the supply of components for the MoD’s critical existing and future UK defence programmes.

“The MoD also intends to invest up to £400million for defence critical plant, equipment and infrastructure into SFIL over the next 10 years to support defence outputs.


© Getty ImagesThe firm makes vital parts for the Royal Navy's fleet of Trident-armed submarines
“The acquisition has been assessed as the best value for money for the taxpayer due to the unique capabilities and circumstances.”

It said Sheffield Forgemasters was “the only available manufacturer with the skills and capability to produce large scale high-integrity castings and forgings from specialist steels in an integrated facility to the highest standards required for these programmes”.

The Government paid £2.56m “for the entire share capital of the company plus debt assumed”.

Officials said the nationalisation “will not prevent other UK based manufacturers bidding for MoD contracts, which will continue to be run in an open and fair competition”.