LIBERTY Steel’s Newport mill continues to make significant progress, achieving its best financial results for the first quarter, with the outlook for the second quarter looking even stronger. The business improved profitability last year despite challenging market conditions caused by Covid-19.
LIBERTY Steel Newport, which this month welcomed MPs who are members of the UK Parliament Business, Energy and Industrial Strategy Select Committee to site, manufactures hot rolled coil (HRC) for use in the UK manufacturing and construction sectors.
Strong sales along with a much-improved operational performance have put the business on a profitable footing. LIBERTY Steel invested just over £2 million last year in modernising the Newport plant and this has continued with £1.1 million spent in the first three months of this year. Investments include new gas furnace software and controls to lower gas consumption and reduce the plant’s carbon footprint.
The improved profitability also coincides with significant health & safety improvements under the stewardship of LIBERTY’s site management. New health and safety protocols mean the plant has now gone over 16 months without a Lost Time Accident, reflecting the importance GFG Alliance’s businesses place on keeping their workers safe.
Visit the LIBERTY Steel Group website to read the full media release.