<p>Liberty Steel has announced a planned reduction of 162 roles at its high value manufacturing site in Stocksbridge in South Yorkshire in UK & an increase of potentially up to 161 roles at its Rotherham plant as part of the next steps in its restructuring and transformation plans. Liberty Steel, said: "In May 2021 Liberty Steel UK took the strategic decision to grow and invest in its core GREENSTEEL operation at Rotherham with an ambition to build it into a two million tonne per annum recycling production facility feeding its downstream rolling mills producing both long and flat products. It would seek either an outright sale or partnership for its non-core special alloys businesses of High Value Manufacturing, Narrow Strip, Performance. This would allow a more focused and strategic ownership structure which would look to grow this important and valuable business serving marquee customers in aerospace, automotive and other highly engineered applications.”</p><p>Liberty Steel said “Following a significant injection of shareholder funding and a number of successful targeted production campaigns, Liberty Steel UK launching a consultation with its employees and unions to complete the restructuring of the special alloys businesses in order to enhance their productivity and competitiveness ahead of a possible sale or partnership. This is anticipated to result in a net reduction of approximately 50 roles after factoring in new and vacant roles at its nearby GREENSTEEL operation in Rotherham fuelled by new investment and volume growth. These reductions are proposed as 162 roles at the High Value Manufacturing Stocksbridge plant and 45 in the Performance Steels business in West Bromwich. At the same time, LSUK will invest in the ramp up of GREENSTEEL production, recycling steel scrap in high volumes into a full range of commercial steels that can meet growing infrastructure demand in the UK and abroad. This will require an increase of potentially up to 161 roles at the Rotherham plant, which with its two electric arc furnaces, remains the anchor plant for Liberty Steel UK’s GREENSTEEL production.</p><p>Liberty Steel UK is confident that this restructuring will put these businesses on a sustainable footing giving them a strong commercial future in their target markets. Liberty Steel UK has always sought to minimise the impact of any changes in the business and foresees the potential to mitigate a large percentage of the role reductions by transferring employees to comparable roles at the Rotherham plant."</p>
<p>Liberty Steel has announced a planned reduction of 162 roles at its high value manufacturing site in Stocksbridge in South Yorkshire in UK & an increase of potentially up to 161 roles at its Rotherham plant as part of the next steps in its restructuring and transformation plans. Liberty Steel, said: "In May 2021 Liberty Steel UK took the strategic decision to grow and invest in its core GREENSTEEL operation at Rotherham with an ambition to build it into a two million tonne per annum recycling production facility feeding its downstream rolling mills producing both long and flat products. It would seek either an outright sale or partnership for its non-core special alloys businesses of High Value Manufacturing, Narrow Strip, Performance. This would allow a more focused and strategic ownership structure which would look to grow this important and valuable business serving marquee customers in aerospace, automotive and other highly engineered applications.”</p><p>Liberty Steel said “Following a significant injection of shareholder funding and a number of successful targeted production campaigns, Liberty Steel UK launching a consultation with its employees and unions to complete the restructuring of the special alloys businesses in order to enhance their productivity and competitiveness ahead of a possible sale or partnership. This is anticipated to result in a net reduction of approximately 50 roles after factoring in new and vacant roles at its nearby GREENSTEEL operation in Rotherham fuelled by new investment and volume growth. These reductions are proposed as 162 roles at the High Value Manufacturing Stocksbridge plant and 45 in the Performance Steels business in West Bromwich. At the same time, LSUK will invest in the ramp up of GREENSTEEL production, recycling steel scrap in high volumes into a full range of commercial steels that can meet growing infrastructure demand in the UK and abroad. This will require an increase of potentially up to 161 roles at the Rotherham plant, which with its two electric arc furnaces, remains the anchor plant for Liberty Steel UK’s GREENSTEEL production.</p><p>Liberty Steel UK is confident that this restructuring will put these businesses on a sustainable footing giving them a strong commercial future in their target markets. Liberty Steel UK has always sought to minimise the impact of any changes in the business and foresees the potential to mitigate a large percentage of the role reductions by transferring employees to comparable roles at the Rotherham plant."</p>
