Union Electric Steel UK to Cease Operations in Spring 2026 After 180 Years

Reuters
06/04
Union Electric Steel UK to Cease Operations in Spring 2026 After 180 Years

Union Electric Steel, a subsidiary of Ampco-Pittsburgh Corporation, has announced its decision to cease operations in the UK by Spring 2026. The decision follows a thorough analysis of the company's long-term viability in the UK market, considering economic pressures and global demand shifts. Despite consultations with employees, unions, and government departments, the company faced unsustainable financial losses due to high energy costs, lack of demand, and increased competition from low-cost imports. The closure aims to secure the future of the company's remaining operations globally. Union Electric Steel has expressed gratitude to its employees and customers and plans a phased approach to fulfill existing orders, while continuing support through its operations in the US, Sweden, Ravne, and a joint venture in China. The closure is pending final board approval, with further updates to follow.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ampco-Pittsburgh Corporation published the original content used to generate this news brief on June 03, 2025, and is solely responsible for the information contained therein.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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