Roland Junck, British Steel’s executive chairman, said success would depend on government reforms of punitive energy costs, environmental taxes and business rates British SteelThe sprawling Scunthorpe steelworks sold by Tata Steel this summer for just £1 and now rebranded British Steel will be capable of making profits of £150 million a year if it gets the right government support, the industry veteran charged with its turnaround has claimed. Roland Junck, a former chief executive of ArcelorMittal, has been brought in by Greybull as British Steel’s executive chairman. Ahead of an internal reorganisation of British Steel next month — which also includes specialist plants in the northeast, and a steelmill in France making rail track for SNCF — Mr Junck said the business could attain best-in-industry…

Source: The Times September 29, 2016 15:56 UTC