State acquires Forgemasters

The nationalisation of defence manufacturer Sheffield Forgemasters has been welcomed in steel communities.

Unite assistant general secretary for manufacturing, Steve Turner said that “this is the news we’ve waited two years to hear”.

He said the announcement that it is going into public ownership brings to an end years of instability for the 215-year-old company, but is also a sign that government may finally be waking up to a crisis of its own making. 

He added: “Critical infrastructure industries like steel function better in public hands and advanced economies like our own need to have stable, secure domestic steel production capabilities to protect our national security interests as well as to compete in global markets.”