The UK-based steelmaker Liberty Steel Group has raised new capital to restructure its domestic steel operation. With the new capital, the company will be able to consolidate its UK assets under a new company with a simpler structure and easier access to third-party financing and investment.

Liberty Steel also plans to increase its electric arc furnace melting capacity at Rotherham to 2 million tons per year, making it more cost-effective. Jeffrey Kabel, the company’s chief transformation officer, said the restructuring agreement will enable them to significantly increase low-carbon emission steel production at Rotherham, enabling the company’s UK operations to continue to lead the ranks of green steel and sustainable industry.

Source from Yieh Corp