Liberty Steel has announced plans to cut 440 jobs and suspend manufacturing at its plant in south Wales, in a sign of difficulties in Sanjeev Gupta’s metals empire.
The steelmaker on Thursday said it would turn its Newport manufacturing plant into a distribution centre, make idle a site at nearby Tredegar and another at West Bromwich, in the West Midlands, and cut back production of primary steel and steel products at Rotherham, Yorkshire.