Created: 11 November 2019
Andrew met with Secretary of State for Business, Andrea Leadsom earlier today to discuss British Steel.
Andrew explains, "Have just returned from a meeting at the steelworks with the Secretary of State for Business, Andrea Leadsom, to celebrate news that a buyer, Jingye Steel, has been found for British Steel. I met their Chairman on site recently and it was clear they were very keen to purchase the company and saw huge potential for the site.
"This is great news and has been welcomed by the Unions, Government and suppliers alike. The deal will unlock substantial investment in the plant, with the new owners pledging an increase in steel production at the site. Crucially, they also have the resources to provide this investment, something the previous owners clearly did not.
"There has been a great partnership between the Government, Unions, local representatives, the Council and the Official Receiver during this process. By working together we have now secured a new owner.
"The sale will take some months to complete and will have to go through the usual regulatory processes, such as EU state aid and competition law before it is confirmed finally but it is fantastic news and ahead of Christmas will be a huge relief to local workers."
* Please note that Andrew Percy is not currently an MP, as Parliament has been dissolved until after the General Election.