In an interview with Sky News, Liberty House chief executive officer Sanjeev Gupta stated that the Scottish government has been very helpful regarding the workforce at Tata Steel’s plants at Dalzell and Clydebridge by retaining key workforce, adding that Liberty House will be engaging with the workers after its transaction for the purchase of the plants has been completed.
Last week, the international steel and minerals group Liberty House signed an agreement with the Scottish government to acquire the Dalzell and Clydebridge plants.
According to Mr. Gupta, the transaction will be completed in early April. After the transaction the company will order slabs and as soon as slabs arrive it will commence production and slowly ramp up production capacity at the plants. Liberty House will also try to maximize the market share of the plate mills in the UK and the company hopes to regain the market share that Tata Steel lost in the country, he added. Commenting on the UK steel market, Mr. Gupta said that the UK is now one of the biggest loss-making markets, though it is the highest-priced steel market in the world. Gupta also stated that Liberty House’s production based largely on recycling steel is extremely viable, but the only predicament is the high energy prices in the UK.
The company will also restart the Newport facility in South Wales, which will create an extra 1,000 jobs directly and another 1,000 indirectly, while it hopes to increase its workforce in the UK with the increase in its production.