The soon-to-be new Turkish owner of British Steel has been speaking to the Financial Times.
The Turkish Armed Forces Assistance Fund (known as Oyak) reached a tentative deal to buy British Steel out of insolvency on Friday and plans to take over British Steel, which employs 5,000 people, by the end of the year.
The FT reports that it plans a productivity drive that could lead to several hundred job losses.
Toker Ozcan, head of the mining metallurgy group at Oyak, said the immediate focus would be to boost output.
He declined to comment on the scale of possible job cuts but said that productivity at the company’s main plant in Scunthorpe was “very low” compared with other European steel producers.
“I am not focused on headcount but on productivity,” he said, adding: “We will take productivity to where it needs to be.”