Responding to today’s (28 September 2015) news that SSI is mothballing its iron and steelmaking facilities in Redcar and proposing to reduce the workforce by 1,700 people, Business Minister Anna Soubry said:
Despite everyone’s recent efforts to help SSI this is very sad news and a big blow for the workforce and their families. They are the priority and with SSI’s difficulties being no secret, why I had already asked Amanda Skelton, Chief Executive of Redcar and Cleveland Borough Council, to chair a local taskforce to help support workers and the local economy. I also have concerns about reports that local contractors have gone unpaid.
I hope that SSI’s announcement that they are mothballing the furnace gives some hope that steel making could be restarted on Teesside in the future.
The steel industry across the UK is facing very challenging economic conditions. The price of steel has almost halved over the past year, with overproduction in the world market. While government cannot alter these conditions, I have called a steel summit to see what more can be done to help our steel industry.