Liberty announced on Tuesday that it has finalised the purchase of Tata Steel UK’s speciality steels division for £100 million ($129 million), almost three months after the two sides first agreed the sale
The deal includes a number of units in the county of South Yorkshire, such as an electric arc furnace (EAF) steelworks and bar mill in Rotherham, a steel purifying facility in Stocksbridge and a narrow steel strip mill in Brinsworth. It also includes service centres in both China and the UK.
Liberty will raise EAF steel production at the Rotherham site to 1.10 million tpy within one year, compared with a current output of 200,000 tpy, it said.
There are two EAFs in Rotherham, but only one is in operation, a Liberty spokeswoman told Metal Bulletin on Tuesday. “Liberty plans to get both back...