‘Degree of complacency’: are supply chains prepared for impact of ongoing Iran war?
By Heather Stewart and Jasper Jolly
The economic warnings are bleak, but full extent of shortages are still not felt for many European countries
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The Guardian | Czech energy group hints at combined bid for British Steel and Speciality Steel UK by Jasper Jolly
AI generated summary, Read the full article for complete information.
Sev.en Global Investments, the Czech billionaire Pavel Tykač’s firm, is urging the UK government to appoint a single buyer for British Steel and Speciality Steel UK (SSUK) in order to create the country’s largest steelmaker. The company, which bought the electric‑arc steelworks in Cardiff from Spain’s Celsa last year, says it will invest £100 million in the Cardiff plant and has “hundreds of millions” more available under its 7 Steel brand, including a potential hydrogen‑fuelled furnace and downstream processing that could avoid job cuts. Sev.en proposes that a buyer with existing steel expertise and a strong balance sheet would need less taxpayer support than the current fragmented situation, and it positions itself as a solid partner for the government’s long‑term plan. The bid comes as the government, which took control of British Steel after its Chinese owners threatened closure, seeks to resolve SSUK’s insolvency and navigate exclusive talks with a Norwegian startup. If successful, Sev.en could overtake Tata Steel as the UK’s biggest steel producer, while the recent 50 % protective tariffs on imported steel bolster its investment case.
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