The board of directors at the Sheffield Forgemasters International has welcomed a recent statement from the Secretary of State for Business, Innovation and Skills, Vince Cable, which pledges to support the company following the cancellation of an £80m government loan for a 15000 tonne press for nuclear castings.
Sheffield Forgemasters International will continue to develop its significant involvement into civil nuclear, thermal and hydro power generation markets and seek other ways to develop the business having received confirmation that the Government will not honour an £80m loan for a new 15,000 tonne press.
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Westinghouse Electric Company today announced its intention to become a leading participant in a major new manufacturing facility for nuclear components in the United Kingdom.
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Sheffield Forgemasters International Ltd (SFIL) has secured £140m of funding to place the UK at the forefront of global nuclear power production.
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