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Chinese company Jingye Group announced on Monday that it has taken over British Steel in a rescue bid, securing the immediate future of the Scunthorpe steelworks and promising a sustainable chapter for the industry.

Chinese steelmaker Jingye Group has completed the buyout of British Steel, helping secure 3,200 jobs and saving the British company from liquidation.

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[Ferro-Alloys.com] Good morning! It is a real delight to join you at Scunthorpe, the well-known “Industrial Garden Town”, to mark the acquisition of British Steel by Jingye Group.After nearly one year of discussion and preparations, this deal finally went th...