Liberty House has signed an agreement with Tata Steel UK to acquire its high-profile speciality steels business for a total consideration of GBK 100M.
The deal will make Liberty one of the largest steel and engineering employers in the UK with more than 4,000 workers at plants located across Britain’s industrial heartlands.
Speciality Steels, which makes steels for the aerospace, automotive and oil & gas industries has manufacturing facilities in Rotherham, Stocksbridge and Brinsworth in South Yorkshire and Wednesbury in the West Midlands, as well as service centres located in Bolton, and in China.
The business has the capability to make around 1.1MT of liquid steel per year from recycled scrap, melted in two electric arc furnaces at Rotherham. This steel feeds downstream casting, re-melting and rolling processes, producing a range of high-value steels.
Liberty works with energy company SIMEC – a fellow member of the GFG Alliance – to deliver a GREENSTEEL strategy, which involves the recycling of UK scrap using renewable energy. The Speciality Steels acquisition is a major step forward for this strategy as it gives the group melting capacity in Britain for the first time.