New buyer for British Steel in Scunthorpe confirmed

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. 

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