British Steel to invest in manufacturing and environmental performance

Thursday, 18 March 2021 11:48:34 (GMT+3)   |   Istanbul

UK-based steelmaker British Steel has announced that it is investing £100 million this year to support the next stage of its transformation. The company will focus the investment on improving its manufacturing operations and supporting environmental performance, including a new billet caster, a scrap pre-heating facility, cranes and a new environmental emission control system.

The company has returned to profit after being brought out of liquidation by China-based Jingye Group one year ago. During its first year as a new business, British Steel achieved significant operational improvements, launched new products, introduced 24-7 operations at its Teesside and Skinningrove mills, and resumed operational control of Immingham Bulk Terminal.

British Steel has also stated that its CEO Ron Deelen will step down from his role at the end of March this year, although he will continue to work closely with the business and Jingye.

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