News: Liberty restarts Rotherham steelworks
Liberty Steel UK (LSUK) has relaunched production at its GREENSTEEL Rotherham electric arc furnace, with restart and operation at night to maximise efficiency and mitigate high energy costs.
Rothbiz reported last month that the company, part of Sanjeev Gupta's GFG Alliance, said it would inject £50m of shareholder funds into LSUK, which will run as normal with funding for growth in working capital approved through Liberty Capital.
Operations at Aldwarke in Rotherham, which produces sustainably-produced steel for growth markets such as infrastructure and high-value engineering and is among the UK’s most electro-intensive industrial sites, are scheduled to run between 11pm and 6am when energy costs will be comparatively lower.
LSUK’s speciality steel division in nearby Stocksbridge which produces steel components for demanding aerospace and energy applications, is also restarting focused production campaigns for key customers.
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The £50mn funding injection is part of GFG’s restructuring and transformation drive following the collapse of its main lender Greensill Capital. The injection sets a stable platform for the full refinancing of LSUK operations.
LSUK plans to expand the Rotherham plant’s long-term capacity, ultimately creating a two million tonnes per annum GREENSTEEL hub with increased employment and new products. Rotherham will supply LSUK’s downstream mills at Thrybergh and Scunthorpe which manufacture products for infrastructure, automotive and other sectors.
LIBERTY Steel UK’s Chief Executive Officer Subhajit Roy Chowdhury said: “As LIBERTY Steel UK ramps up we’re showing our commitment to make South Yorkshire a UK GREENSTEEL hub. LIBERTY is determined to support the Government’s drive towards a net zero economy and to make the decarbonisation of the UK steel industry a reality. We are committed to supporting the UK’s infrastructure growth plan.”
LSUK website
Images: LSUK
Rothbiz reported last month that the company, part of Sanjeev Gupta's GFG Alliance, said it would inject £50m of shareholder funds into LSUK, which will run as normal with funding for growth in working capital approved through Liberty Capital.
Operations at Aldwarke in Rotherham, which produces sustainably-produced steel for growth markets such as infrastructure and high-value engineering and is among the UK’s most electro-intensive industrial sites, are scheduled to run between 11pm and 6am when energy costs will be comparatively lower.
LSUK’s speciality steel division in nearby Stocksbridge which produces steel components for demanding aerospace and energy applications, is also restarting focused production campaigns for key customers.
Advertisement
The £50mn funding injection is part of GFG’s restructuring and transformation drive following the collapse of its main lender Greensill Capital. The injection sets a stable platform for the full refinancing of LSUK operations.
LSUK plans to expand the Rotherham plant’s long-term capacity, ultimately creating a two million tonnes per annum GREENSTEEL hub with increased employment and new products. Rotherham will supply LSUK’s downstream mills at Thrybergh and Scunthorpe which manufacture products for infrastructure, automotive and other sectors.
LIBERTY Steel UK’s Chief Executive Officer Subhajit Roy Chowdhury said: “As LIBERTY Steel UK ramps up we’re showing our commitment to make South Yorkshire a UK GREENSTEEL hub. LIBERTY is determined to support the Government’s drive towards a net zero economy and to make the decarbonisation of the UK steel industry a reality. We are committed to supporting the UK’s infrastructure growth plan.”
LSUK website
Images: LSUK
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