Liberty House Group’s £100m deal to acquire Rotherham steel business

International industrials and metals group, Liberty House, has entered into exclusive negotiations with Tata Steel UK to acquire its Speciality Steels business for a total consideration of £100m.

At the end of March, the Indian-owned steelmaker concluded that it was exploring all options for portfolio restructuring including the potential sale of Tata Steel UK, in whole or in parts. Following a board meeting in July, the steelmaker decided on a separate process for the potential sale of its Speciality Steels business, which until recently employed over 2,000 people at sites like Aldwarke in Rotherham and Stocksbridge in Sheffield.

Tata confirmed the progress of its divestment of the Specialty Steel business and the pipe mills in Hartlepool in its financial results for the quarter to June 30 and it was revealed in September that two bids had been submitted for the speciality steel business in its entirety, including the two businesses in Rotherham (at Aldwarke and Brinsworth Strip Mill).

Read on… http://www.rothbiz.co.uk/2016/11/news-5251-liberty-house-groups-100m.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+Rothbiz+(Rothbiz:+Rotherham+Business+News)&m=1

Jobs hope as buyer lined up for Rotherham’s Tata steel plant

AN INTERNATIONAL metals firm is set to purchase Tata Steel UK’s threatened speciality steels arm — including its Rotherham plants.

Liberty House Group is now in exclusive buy-out talks with Tata, the London-based company announced on this morning.

Read on… http://www.rotherhamadvertiser.co.uk/news/105217/jobs-hope-as-buyer-lined-up-for-rotherham-s-tata-steel-plant.aspx

Metals group in £100 million takeover of Tata Steel securing hundreds of South Yorkshire jobs

An international metals group is in the process of buying out part of Tata Steel securing hundreds of South Yorkshire jobs.

International industrials and metals group, Liberty House, has entered into ‘exclusive negotiations’ with Tata Steel UK to acquire its Speciality Steels business for £100 million.

Read on… http://www.thestar.co.uk/news/metals-group-in-100-million-takeover-of-tata-steel-securing-hundreds-of-south-yorkshire-jobs-1-8262581

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4 Responses to Liberty House Group’s £100m deal to acquire Rotherham steel business

  1. Colin Tawn says:

    Who is going to fund all or part of Tata Steels pensions deficit?

  2. Woody says:

    I think most of the funding will come from the goverment now we’re leaving the EU , this wasn’t possible while being a member , I read somewhere that the figure was 2 billion ? Great news that the new high speed rail will be using 95% British steel for the tracks etc most of this will be from the longbar production at Scunthorpe I’d have thought

  3. Colin Tawn says:

    The Government has so far failed to guarantee that British-made steel will be used in the project, but it has said steel contracts will not go abroad ‘if the most competitive bid is British’.
    .thisismoney.co.uk/money/news/article-3841942/Let-build-HS2-says-UK-steel-industry-French-win-Trident-deal.html

    The competition to build the rolling stock for HS2 is currently between Alstom, Hitachi and a Chinese state owned company. This saddens me. With all the talk and waffle about the ‘Northern Powerhouse’ and Rotherham’s ARM for example why is it not possible for a new British owned company (which could be a consortium of UK companies) to tender for the contract? A new manufacturing facility and 1000’s of new jobs including those in the supply chain would be a massive boost to our economy. Plus there would be opportunities for apprentices and other people to learn new skills.

    As we’re leaving the EU there are no valid reasons IMV why the government cannot ensure this valuable contract is awarded to a British owned company based in Britain.
    Do we really want to go down the same route as Sheffield City Council did when it gave the contract for Supertram to Siemen’s in Germany and had to send people over there to learn how to maintain them?
    I hope not.

    • Woody says:

      Exactly Colin .I work for Alcoa in sheffield mainly making open / closed die forgings for the aerospace industry and we were told the government had assured British company’s the project would be using mainly British steel but wether that was just talk who knows, agree 100% about apprenticeships etc , all the 1st hands / stampers at our place have 30+ years experience/ knowledge that if not passed down wil be lost

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