Official announcement on the future of the British steel company

A British Steel official said: "We are continuing to work with stakeholders to figure out how to keep the company as a permanent asset. These are commercial confidential discussions." The company still trades and supplies steel products to its customers who continue to provide good support for their products. The official administration has access to the reimbursement provided by the government and can use it to purchase consumables to allow the Company to continue production.

As it turned out at the end of last month, more than 80 potential applicants were contacted, identified by special managers hired by the High Court ruling to transfer British Steel to bankruptcy, and 60 nondisclosure agreements were sent out to consider possible proposals.

Since British Steel was liquidated on May 22nd, Indian JSW Steel, British private investment group Endless, China's Hesteel, South Korean POSCO, Liberty Steel and many others are considered as buyers.