According to local media, two steel facilities in Oldbury, West Midlands, UK have been sold out of administration, allowing production to continue. D&J Steels Limited was sold on September 11, and Bromford Iron & Steel was sold on September 23, in two separate transactions. Administrators Mike Denny and Matthew Hammond of PwC did not disclose the buyers of the firms, but 54 jobs have been reportedly saved due to the acquisitions.
“Both D&J and Bromford had faced financial difficulties due to a combination of steel price volatility and high energy costs, which were compounded by the withdrawal of credit insurance,” Denny said in a statement to media. “We’re pleased with the outcome achieved, which ensures the long history of steel processing on this site spanning over 400 years continues.”
D&J Steels Limited is a specialist steel stockholding business serving the engineering, forging, fabrication, oil and gas sectors since 1970.
Bromford Iron & Steel produces hot rolled flats, sections and custom profiles. The mill dates back to 1610, when swords were made on site using local iron ore.
Previous owners of Bromford include motorway crash barrier maker Hill & Smith, which sold the firm to specialist steel manufacturing group OSSL in 2014.