Liberty House has taken control of Britain’s largest electric arc furnace and associated steelworks in South Yorkshire in a deal worth £100 million Liberty House/PAA deal has been done to save the steelworks in Rotherham, another victim in the clearout of Tata Steel’s British interests, securing 1,700 jobs in south Yorkshire and with the promise of 300 new production roles. Liberty House has taken control of Britain’s largest electric arc furnace and associated speciality steelworks in a deal worth £100 million. The metals group led by Sanjeev Gupta has used the steel crisis to bulk up, acquiring distressed businesses being sold off by the Tata empire and that of Lord Paul’s Caparo. However, the acquisition of Rotherham, along with facilities at Stocksbridge and Brinsworth, is by far the most significant by Mr Gupta, 45. The facilities not only make high-end alloys, ultra-pure steels and precision components for the aerospace…

Source: The Times May 02, 2017 15:59 UTC