UK Seizes Chinese Business - Joe Blogs

In this video I discuss the seizure of British Steel by the UK Government from Chinese Ownership. British Steel was acquired out of liquidation in 2020 by Jingye Group a State Backed Chinese Conglomerate. British Steel operates the last remaining Blast Furnace in the UK that can produce Virgin Steel, which is critical for the defence industry. Jingye announced that the business was no longer viable and that the Blast Furnaces were to be closed however this represents a serious security threat to the UK.

Chapters:
0:00 Intro
0:55 BRITISH STEEL
1:31 VIRGIN STEEL
3:27 CLOSURE
5:09 JINGYE
7:17 OWNERSHIP
10:43 UK GOVERNMENT
11:33 SEIZURE
13:43 FINANCIALS
15:21 PRODUCTION
17:36 COSTS
19:09 SUMMARY & CONCLUSION
24:08 SMILE