RIA Statement on British Steel

Following news that British Steel has gone in to liquidation, the Railway Industry Association – of which British Steel is a member – released the following statement:

“Just this week the Railway Industry Association – alongside British Steel – signed the UK Steel Charter, which seeks to facilitate the use of UK produced steel in construction and infrastructure projects, continue world class R&D, and related to this support well paid, skilled manufacturing jobs and training opportunities in communities across the UK.

“So RIA stands by British Steel – which supplies 95% of the nation’s rail – in these difficult times, as it formally enters insolvency proceedings. Furthermore, we support Network Rail’s efforts to increase British Steel orders, ensure prompt payment terms, and commit to a long term schedule whilst immediate funding and a potential buyer is sought for the company.

“RIA understands that in the interim, business, and critical work on the railway, will continue as usual, in what are clearly concerning times for both British Steel employees and the wider rail supply chain, many of whom are SME members of RIA supporting jobs and GVA throughout the country.”

1. About RIA: The Railway Industry Association (RIA) is the voice of the UK rail supply community. We help to grow a sustainable, high-performing, railway supply industry, and to export UK rail expertise and products. We promote and represent our members’ interests to policy makers, clients and other stakeholders in the UK and overseas. RIA has 280+ companies in membership in a sector that contributes £36 billion in economic growth and £11 billion in tax revenue each year, as well as employing 600,000 people—more than the workforce of Birmingham. It is also a growing industry with the number of rail journeys expected to double over the next 25 years and freight set to grow significantly too. RIA’s membership is active across the whole of railway supply, covering a diverse range of products and services and including both multi-national companies and SMEs (60% by number). RIA works to promote the importance of the rail system to UK plc, to help export UK expertise around the globe and to share best practice and innovation across the industry