Mandelson set for nuclear decision

Author: By Mark Leftly

The press would make the firm one of only three worldwide that can manufacture
large components to the civil nuclear power industry. Lord Mandelson is
known to be keen for the UK to become a market leader in this field.

Sheffield Forgemasters has already secured £40m, but is hoping to make up the
shortfall through public and private funding. Graham Honeyman, its chief
executive, added that several banks have expressed an interest. But he ruled
out borrowing from banks charging interest rates of more than 5 per cent. “We
made our submission to the Government a few weeks ago,” he said, “and
we’re going to provide [more] information on 22 July. We expect a decision
following an internal government meeting in the middle of September.”

Sheffield Forgemasters started life in the 19th century, and is one of the
UK’s oldest major manufacturers.

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