Celsa of Spain to make formal offer for ASW soon
Spanish steel group CELSA has concluded its due diligence on UK based steel producer ASW and is expected to make a formal proposal to the receivers by next week latest. As the plants were both shut at the end of last year and all employees were made reduntant on December 23, 2002, Celsa has the opportunity to start on a blank canvas. Celsa is rumored to be thinking about keeping Cardiff open and closing Shearness. The bar mill will probably be moved either to Cardiff if space allows it, or to Spain. The recently installed shaft furnace and caster will be for put up for sale.