LIBERTY Steel Progresses on Restructuring and Transformation Plans

SEATTLE (Scrap Monster): Liberty Steel UK announced major restructuring plans, focused on additional investment at its core GREENSTEEL operation at Rotherham and outright sale or partnership for its non-core special alloys businesses.

At Stocksbridge works, it has launched a consultation on the restructuring, including its downstream operations. The restructuring of the special alloys businesses is aimed at enhancing the productivity and competitiveness prior to possible sale or partnership. The move is expected to lead to 162 potential job reductions. In addition, the restructuring process may result in 45 job reductions at the Performance Steels business in West Bromwich, the company news release said.

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Also, Liberty Steel plans to invest in boosting production capacity at its Rotherham works. It aims to develop the mil into a 2 million tonne per annum recycling production facility. This will potentially add up to 161 roles at the plant.

Jeffrey Kabel, chief transformation officer, Liberty Steel Group noted that the newly announced steps will ensure their competitiveness in the future, with job creation at Rotherham plant enabling it to mitigate a large percentage of role reductions at other sites. It sets a strong platform for Liberty’s GREENSTEEL expansion, he added.