British Steel Limited

British long steel products manufacturer owned by China's Jingye Group, operating steelworks in Scunthorpe and Teesside with recent UK government intervention.

Company Type

state-owned

Founded

2016

Headquarters

Scunthorpe, North Lincolnshire, United Kingdom

About British Steel Limited

Jingye Group is a Chinese steel manufacturer headquartered in Shijiazhuang, Hebei Province, China. Founded in 1998, Jingye has grown to become one of China's largest private steel companies with significant operations in steel production, chemicals, and related industries.

Jingye Group is controlled by its founder Li Ganpo and operates as a private company with significant government support through China's state-owned banking system. The company has expanded internationally through acquisitions and strategic partnerships, with British Steel representing its most significant international investment.

The company's acquisition of British Steel in 2020 marked Jingye's entry into the European steel market and its ambition to become a global steel industry leader. Despite operational challenges, Jingye remains committed to the British Steel investment and continues to provide financial support for the company's operations.

History of British Steel Limited

British Steel Limited was founded in 2016 when Greybull Capital, a private equity firm, acquired certain assets from Tata Steel Europe's long products division. The acquisition included the Scunthorpe Steelworks and other facilities, creating a new company focused on long steel products.

Under Greybull Capital's ownership from 2016 to 2020, British Steel faced significant challenges including market difficulties, high energy costs, and Brexit-related uncertainties. The company entered insolvency in 2019, leading to its acquisition by Jingye Group in 2020.

Jingye Group's acquisition brought new investment and strategic direction to British Steel, with commitments to modernize facilities and expand production capacity. However, the company continued to face operational challenges and required significant government support to maintain operations.

In 2025, the UK government intervened directly in British Steel's operations, taking over day-to-day management from Jingye Group to ensure continued steel production at the Scunthorpe plant, which represents the UK's last factory capable of making steel from raw materials.

Brands Owned by British Steel Limited

British Steel Limited owns 2 brands in our database.

Scunthorpe Steel

Owned by British Steel Limited

British steel products brand representing steel manufacturing at the Scunthorpe Steelworks, specializing in long steel products and primary steelmaking operations.

steel-productslong-steelbritish-steel

Skinningrove Steel

Owned by British Steel Limited

British steel products brand representing steel rolling and finishing operations at Skinningrove Steelworks, specializing in finished steel products and structural sections.

steel-productssteel-rollingbritish-steel

British Steel Limited Ownership: Pros & Cons

Advantages

+Strategic importance to UK industrial capacity and infrastructure
+Specialized expertise in long steel products
+Established customer base in UK construction and rail markets
+Government support ensuring continued operations
+Modernization potential under Jingye ownership

Considerations

-High energy costs and environmental compliance expenses
-Competition from imported steel products
-Operational challenges requiring government intervention
-Dependence on government subsidies and support
-Complex ownership structure with government management

Frequently Asked Questions About British Steel Limited

Is British Steel owned by another company?

Yes, British Steel is owned by Jingye Group, a Chinese state-owned steel manufacturer. However, the UK government has taken over day-to-day management of the company while Jingye retains ownership.

Is British Steel publicly traded?

No, British Steel is not publicly traded. The company is privately owned by Jingye Group, though it operates under government management following the 2025 intervention.

When was British Steel founded?

British Steel Limited was founded in 2016 when Greybull Capital acquired assets from Tata Steel Europe. The current company is distinct from the original British Steel Corporation that existed from 1967 to 1999.

Who created British Steel?

The current British Steel Limited was created in 2016 by Greybull Capital, which purchased assets from Tata Steel Europe. The company was later acquired by Jingye Group in 2020.

What is British Steel's market position?

British Steel holds a strategic position in the UK steel industry as the country's last manufacturer capable of producing steel from raw materials. The company specializes in long steel products and serves critical infrastructure markets including railways and construction.

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