Business Secretary Jonathan Reynolds announced today, 14 September 2026, that the Government will work towards the public acquisition of Speciality Steel UK (SSUK). This decision follows the conclusion that the Government could not support a proposed sale to a preferred bidder, citing concerns over long-term stability, certainty, and value for money.
SSUK's sites, located in Rotherham, Stocksbridge, Brinsworth, and Wednesbury, support over 1,300 jobs. The company, which entered liquidation last year due to financial challenges, produces specialist steel for sectors including aerospace, defence, and advanced manufacturing.
The Government's move aims to keep options open for the sites, including continued speciality steel production, advanced manufacturing, regeneration opportunities, and future private investment. The Department for Business, Innovation, Science and Trade will now collaborate with the Official Receiver, the South Yorkshire Mayoral Combined Authority, and local communities to develop a proposal for public acquisition and assess the company's long-term future.