Liberty Stocksbridge Sale Plan to Reviewed by Syndex Consultancy
Yorkshire Post reported that multiple trade unions have secured an agreement that will see Liberty's proposals subjected to an independent review. The National Trade Union Steel Coordinating Committee, alongside Unite and the GMB, have convinced Liberty to submit their business plans to the union’s external experts, the Syndex consultancy, for what they described as detailed analysis. Unions said “This crucial work will take place over the coming weeks and Syndex will tell us whether the plans stack up and what they mean for the workforce. This is an important development and we are pleased that Liberty has recognised the value of submitting their plans for independent review. The last few months have been full of worry and uncertainty for the workforce and we all have many unanswered questions. While we do not have the answers today, we now have a process to channel our questions and pursue our concerns. Rest assured, if we believe Liberty’s plans fall short the unions will be representing our members’ interests and vigorously challenging the company. The unions have been clear Liberty must first convince the workforce that their plans will secure jobs and the future of every UK site. We’ve all heard Sanjeev Gupta promising that none of our plants will close on his watch and we will hold him to that commitment.”
A Liberty spokesperson confirmed the agreement had been reached.
Liberty announced in May that up to 1,500 jobs were at risk after it confirmed it was placing its South Yorkshire aerospace and steel business on the market as part of a major restructuring in the wake of its main financial backer, Greensill Capital. The company is still engaged in a formal sale process meaning that its Stocksbridge plant, alongside its manufacturing facilities in Brinsworth in South Yorkshire is to be sold. Sites in Coventry, Kidderminster and Essex are also up for sale. Instead, Liberty wants to focus its attention on its Rotherham hub, where it plans to make two million tonnes of green steel.