Latest news with #Forgemasters
BBC News
2 days ago
- Business
- BBC News
Government puts £426m to manufacturing at Sheffield Forgemasters
The government has pledged £426m of investment towards works at a Sheffield steel producer in a move it said would protect 700 skilled Ministry of Defence (MoD) bought Sheffield Forgemasters in 2021 and will use the site, near Meadowhall, to support manufacturing for defence this year, plans to build a new plant at the facility, which will be operational by 2028, were approved. On Tuesday, the government announced it would plough extra funding into the site in a move it claimed would also create 900 construction jobs. Defence Secretary John Healey said the investment was important at a time when "global threats are rising". Healey said: "We recognise we need to invest in our defence and Armed Forces. But a country's military is only as strong as the country standing behind it. "Forgemasters is a shining example of what we have in the UK, of innovation and traditional industry, and it demonstrates how defence is an engine for growth in jobs and investment right across the country."Forgemasters, which dates back about 250 years, is one of Sheffield's oldest industrial planning permission for the new facility was granted in February, Forgemasters programme director Craig Fisher said the development would "create highly-skilled engineering jobs for decades to come"."This planning agreement will see construction of the largest machining hall of its kind in the UK, and regeneration of a prominent brownfield site in the city's industrial centre," he said. Listen to highlights from South Yorkshire on BBC Sounds, catch up with the latest episode of Look North.
Yahoo
13-02-2025
- Business
- Yahoo
Britain to demand exemptions from Trump's steel tariffs
Britain will seek exemptions on Donald Trump's sweeping steel tariffs, the Business Secretary has indicated, saying the UK is in a strong position to secure leniency from the US. Jonathan Reynolds said that he would raise the tariffs issue as soon as the US Senate confirms the appointment of Howard Lutnick, Mr Trump's pick for commerce secretary. Mr Reynolds added that while there was 'significant overcapacity' around the world in steel, the UK was not the cause of it, and that the US defence industry relied heavily on British imports. 'I think there's a basis for a discussion,' he said. Mr Trump announced 25pc tariffs on worldwide steel and aluminium imports on Monday, saying they would come 'without exceptions or exemptions' and that the UK would not escape them. 'We have a huge deficit with the UK. Big difference,' Mr Trump said. When asked about the tariffs on Thursday, Mr Reynolds said: 'Specifically on the steel and aluminium issue, there is significant overcapacity around the world. I understand that [and] we have similar concerns around that, but we're not the cause of that. 'Our steel sector is very small relative to the size of our economy. I think it should be bigger. If you look at the kind of products we are sending to the US in steel, aluminium, they're either quite sensitive defence ones from Forgemasters in Sheffield, or they're parts of the wider US manufacturing supply chain. 'So I'll be seeking to engage as soon as the Senate confirms my counterparts on the policies they put forward. 'I believe we can engage with them on their agenda. And I do feel that where there are concerns about the global steel and aluminium industries, very strong cases. The UK is not the problem within that. I think there's a basis for a discussion.' Mr Trump introduced a tariff on steel in 2018, and Joe Biden relaxed the restrictions in 2022, with some UK exporters also securing exemptions. UK Steel, the industry lobby group, called this week's announcement 'a sledgehammer to free trade'. Mr Reynolds said it was not in the national interest to put tariffs on Chinese electric vehicles, saying that retaliation from Beijing would damage the UK carmaking industry. He was speaking after he announced a new 'strategic steer' for the Competition and Markets Authority that will urge it to speed up investigations and focus on UK issues, in contrast to many of the big tech investigations the regulator has launched in recent years. Mr Reynolds suggested the UK might need fewer regulators in future as part of a red tape cutting drive, saying: 'We've also got to genuinely ask ourselves the question, have we got the right number of regulators?' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
13-02-2025
- Business
- Telegraph
Britain to demand exemptions from Trump's steel tariffs
Britain will seek exemptions on Donald Trump's sweeping steel tariffs, the Business Secretary has indicated, saying the UK is in a strong position to secure leniency from the US. Jonathan Reynolds said that he would raise the tariffs issue as soon as the US Senate confirms the appointment of Howard Lutnick, Mr Trump's pick for commerce secretary. Mr Reynolds added that while there was 'significant overcapacity' around the world in steel, the UK was not the cause of it, and that the US defence industry relied heavily on British imports. 'I think there's a basis for a discussion,' he said. Mr Trump announced 25pc tariffs on worldwide steel and aluminium imports on Monday, saying they would come 'without exceptions or exemptions' and that the UK would not escape them. 'We have a huge deficit with the UK. Big difference,' Mr Trump said. When asked about the tariffs on Thursday, Mr Reynolds said: 'Specifically on the steel and aluminium issue, there is significant overcapacity around the world. I understand that [and] we have similar concerns around that, but we're not the cause of that. 'Our steel sector is very small relative to the size of our economy. I think it should be bigger. If you look at the kind of products we are sending to the US in steel, aluminium, they're either quite sensitive defence ones from Forgemasters in Sheffield, or they're parts of the wider US manufacturing supply chain. 'So I'll be seeking to engage as soon as the Senate confirms my counterparts on the policies they put forward. 'I believe we can engage with them on their agenda. And I do feel that where there are concerns about the global steel and aluminium industries, very strong cases. The UK is not the problem within that. I think there's a basis for a discussion.' Mr Trump introduced a tariff on steel in 2018, and Joe Biden relaxed the restrictions in 2022, with some UK exporters also securing exemptions. UK Steel, the industry lobby group, called this week's announcement 'a sledgehammer to free trade'. Mr Reynolds said it was not in the national interest to put tariffs on Chinese electric vehicles, saying that retaliation from Beijing would damage the UK carmaking industry. He was speaking after he announced a new 'strategic steer' for the Competition and Markets Authority that will urge it to speed up investigations and focus on UK issues, in contrast to many of the big tech investigations the regulator has launched in recent years. Mr Reynolds suggested the UK might need fewer regulators in future as part of a red tape cutting drive, saying: 'We've also got to genuinely ask ourselves the question, have we got the right number of regulators?'
BBC News
12-02-2025
- Business
- BBC News
Sheffield Forgemasters granted permission for new facility
A major steel producer has been granted permission to build a new plant which would include the country's largest machining specialists Sheffield Forgemasters will use the facility near Meadowhall to support manufacturing for defence Ministry of Defence bought the company in 2021 and the 16-acre site on Weedon Street will be operational by programmes director Craig Fisher said it "signals an amazing investment for the city and for the wider UK". Work is already underway to prepare the site, which will contain some of the largest and most advanced equipment ever produced for main building will be 32m tall and cover a space equal to 12 Olympic swimming pools, which Mr Fisher called "an iconic landmark".A second, smaller building will house a facility for testing products and a dedicated training area for new Fisher added that the new development would "create highly-skilled engineering jobs for decades to come"."This planning agreement will see construction of the largest machining hall of its kind in the UK, and regeneration of a prominent brownfield site in the city's industrial centre," he said."What we are creating in the centre of Britain's historical industrial heartland is unparalleled in the UK and will not only de-risk supply for the UK's defence programme, but it will also deliver technologically advanced and rewarding working facilities for our employees."Forgemasters has the capability to produce some of the largest bespoke engineered steel products in the world, with the capacity for castings weighing up to 350 tonnes, and the capacity for forgings weighing up to 200 new plant will be able to produce complex nuclear-grade components more of another new facility for forging is also underway on Brightside to highlights from South Yorkshire on BBC Sounds, catch up with the latest episode of Look North or tell us a story you think we should be covering here.
