Chinese firm Jingye has signed a contract to take over
After months of uncertainty it's been confirmed contracts have been signed to buy British Steel in Scunthorpe.
It safeguards 4 thousand jobs there.
The new owners are the Chinese firm Jingye who've secured a 70 million rescue deal.
It says it's looking to make long term investments into the plant and it admires the operation there as well as appreciating its heritage.