British Prime Minister Boris Johnson has promised to do whatever is necessary to save jobs in the UK steel industry as discussions continue between government officials and Liberty Steel management, according to media reports. Liberty Steel’s future is under threat, following the financial distress experienced by the UK-based financial services company Greensill Capital, the main lender to GFG Alliance, the parent company of Liberty Steel.
“I share very much the anxiety of families of steel workers who work in Liberty Steel. We will do everything we can to ensure that we continue with British jobs for producing British steel with the infrastructure investments,” Prime Minister Johnson said.
Demand for some of Liberty’s specialty steel products has fallen by almost two thirds, as the company’s main specialty steel customers have been hit by Covid-19, SteelOrbis understands.
With 12 steel plants in the UK, including at Rotherham, Motherwell and Newport, Liberty employs 5,000 people.