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Who is set to take over Stocksbridge Steelworks – and what could it mean for jobs?
The future of steelmaking in Stocksbridge has taken a major step forward after a preferred bidder emerged to take on the former Liberty Steel sites. The company understood to be leading the bid is Blastr Green Steel, a Norwegian-backed start-up focused on producing low-carbon steel using new technology. The Government’s Official Receiver has entered a five-week period of exclusive talks over the sale of Speciality Steel UK (SSUK), which includes the Stocksbridge works and the electric arc furnace in Rotherham.
A NEW KIND OF STEEL COMPANY
However, the company does not yet operate any active steel plants, meaning the Stocksbridge and Rotherham sites would be among its first major assets. The business is led by experienced steel executive Mark Bula, and industry insiders say the South Yorkshire sites are seen as viable operations that were previously held back by a lack of investment under Liberty Steel. Mark Bula (pictured) has a wealth of experience in the steel industry in the US and Europe and is described as a ‘Steelman’ through and through. A spokesperson for Blastr Green Steel declined to comment on the rumours.
Blastr is not a traditional steel giant. Backed by renewable energy investor Vanir Green Industries, it is developing plans to produce “green steel” using hydrogen rather than coal, significantly reducing carbon emissions.
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