UK-based Liberty Steel UK (LSUK), a subsidiary of GFG Alliance, has announced that it will implement the next phase of its restructuring program to ensure a sustainable future for its businesses and workforce in the face of the UK steel industry's severe competitiveness issues.
Accordingly, the company will focus on high-value alloy steel production at Speciality Steel UK (SSUK) sites in Rotherham, Stocksbridge and Brinsworth. The production at Rotherham will be reduced to mitigate the impact of uncompetitive energy costs. In addition, Liberty Steel Newport and Liberty Performance Steel West Bromwich have been idled.
Liberty Steel UK stated that it has committed to restart commodity production and idled plants when the market and operating conditions allow, and also to the longer-term aim of growing Rotherham into an annual 2 million mt green steel facility.
These actions may potentially impact up to 440 jobs across the business.
