The UK steel business of Sanjeev Gupta has confirmed that more than 400 jobs could be lost under restructuring plans in the face of what it described as challenging market conditions. As part of the restructure Liberty Steel UK (LSUK), which is part of the GFG Alliance, said its steel making facility in Newport, South Wales is being idled and turned into a storage, distribution and hub as well as its operation in West Bromwich. Its tubes business in Tredegar is also impacted.
In an interim measure it also plans to reduce its primary production at Rotherham, which will be replaced by imported billet and slabs to feed rolling and finishing lines at Rotherham, Scunthorpe, and Dalzell.
With the support of major customers, LSUK said it will focus on high value alloy steel production at its Speciality Steel UK (SSUK) sites in Rotherham, Stocksbridge and Brinsworth serving strategic aerospace, energy and engineering supply chains
