Sheffield Forgemasters and the MoD

The Ministry of Defence is to buy Sheffield Forgemasters, saying that it

intends to invest up to £400 million in the company for plant, equipment
and infrastructure critical to the defence industry over the next decade.
The purchase, for £2.56 million including debt, is to secure the supply of
vital parts for the Royal Navy. Sheffield Forgemasters can trace its
origins to the 1750s as a blacksmith’s forge. It became a full commercial
enterprise in 1805. The takeover, which will preserve 600 jobs after the
company cut 95 late last year, will go through next month after
shareholders including Graham Honeyman, the former chief executive, and
then business’s employees’ trust agreed to sell to the government. It
will be run by its existing management. Steve Turner, assistant general
secretary of the Unite union, said that the news would be “welcomed with
a huge sigh of relief right across our steel communities” after his
organisation had fought to protect UK steel supply.

 Times 29th July 2021

 https://www.thetimes.co.uk/article/ministry-puts-defensive-wall-around-forgemasters-hz0k2709q

 The UK government has nationalised the defence manufacturer Sheffield
Forgemasters to secure the supply of parts that are vital for the Royal
Navy’s ships and submarines. The Ministry of Defence said it would spend
£2.6m to acquire the whole of the company, and planned to invest as much
as £400m over the next decade to replace critical equipment and
infrastructure required for its military production capacity. Most of the
companies capable of building the reactor pressure vessels for the UK’s
nuclear submarines are located in potentially hostile countries such as
Russia and China, as well as South Korea. US manufacturers are focusing on
providing for their own navy’s vessels. Steve Hammell, the company’s
chief financial officer, said it was hopeful of securing work on small
modular reactors. Forgemasters has provided technical support to the
consortium, led by Rolls-Royce, its largest customer. Rolls-Royce hopes to
use the reactors in 16 small power stations around the UK. The project has
not yet received the full go-ahead, but Hammell said it could be an
opportunity for the company within five years. Hammell said the company
also hoped to take advantage of the government’s desire to use more
British steel in projects such as the enormous Dogger Bank offshore
windfarm. Forgemasters will try to use its new government links to build
the 150-tonne hub castings that sit at the centre of the huge turbines.

 Guardian 28th July 2021

 https://www.theguardian.com/business/2021/jul/28/sheffield-forgemasters-nationalised-after-takeover-ministry-of-defence
 

Sheffield Forgemasters wins first contract for new nuclear power sectorset to employ 40,000. Forgemasters has landed a £3.7m contract to make thefirst parts for a new generation of nuclear power stations – a sector thatcould employ 40,000 and be worth £52bn by 2050. The Brightside steelmakerwill make forgings for small modular reactors after the project was giventhe green light last month. It comes after the Qatari Investment Authoritythis week put £85m into Rolls-Royce SMR. The company has now raised£490m, including £210m from government. The money will be spentfinalising the design and gaining regulatory approval for the reactors. Sheffield Star 21st Dec 2021  https://www.thestar.co.uk/business/sheffield-forgemasters-wins-first-contract-for-new-nuclear-power-sector-set-to-employ-40000-3502377