Diary and Events
NEC Birmingham(B40 1NT)
25/09/2019 - 26/09/2019
Sensors & Instrumentation Live will celebrate its 10 year anniversary in 2019 and the UK’s (more)
NEC, Birmingham(B40 1NT)
01/10/2019 - 03/10/2019
The UK’s largest ever event in the processing and packaging sector calendar. With over 350 exhibitors (more)
Closures in the UK steel sector will have knock on effects
Commenting on the job losses and closures in the UK steel sector, Stephen Cooper, head of manufacturing at KPMG in the UK, said: “The metals sector is currently facing a bigger threat than in 2009 when the global financial crisis sent shockwaves through the industry. Today we heard the news of up to 1,200 job cuts in Scunthorpe and Scotland, which follows the confirmed closure of the entire steel site in Teesside, with the loss of around 2,200 jobs.
“Adding to this, yesterday another site announced that 1,700 jobs were set to go. This is not only a crisis for the metals industry but a crisis that goes to the very heart of the UK’s industrial manufacturing. The negative knock on effects of this crisis for the UK economy cannot be underestimated.
“We also forecast significant distress within metal product manufacturing businesses. Whilst they will be benefiting from decreased input costs, their revenue will likely decline in turn. Survival will depend on having a niche and flexible product portfolio and associated supply chain.”