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Man of Steel to loom over Sheffield

How misguided to think that the Unions had anything to do with the demise of the British Steel industry, in Sheffield or elsewhere. It was entirely due to incompetent management, following a succession of inappropriate useless Chairmen who knew nothing of the Industry. And as for the much heralded private sector? The whole of the state owned British Steel Industry was sold for around a quarter of its value, £4 billion of capital debt wiped off, and the "new" private owners simply ran it into the ground and sold it to a foreign company who are in the process of reducing the capacity even further to switch production to their other overseas works. At the same time, the current owners are borrowing around $5 billion to build new steel works in Brazil.

17 Aug 2012

9:07 pm