Following a review of the current situation and delays in commencement of
production, Wales-based hot rolled coil (
HRC) producer MIR Steel (formerly known as Alpha Steel) has announced that some of the workforce have been placed on temporary leave but will still be paid half their contractual wages until the company returns to normal
production. The company emphasized that there have been no redundancies at the plant, which remains in full readiness for the recommencement of
production.
The plant has not been in
production since summer last year but the workforce has been paid in full until now. MIR Steel said that an agreement has been reached with the workforce indicating that once the plant commences
production all staff will be called to work on full pay. In the meantime, the plant will be kept ready by maintenance staff.
Liberty Commodities, who has been so far deeply involved in financing the plant on behalf of the owners, expects MIR Steel Wales to start
production soon. Liberty has an exclusive tolling agreement with MIR and confirms continuance of this agreement with full support once
production starts.
As SteelOrbis previously reported, the plant is expected to produce 800,000 mt of hot rolled coil per year, with an initial monthly capacity of approximately 40,000 mt.