British Steel chief executive Ron Deelen has told how the 鈥榥ew鈥 business is ready to play a key role in the build-out of the 海角视频鈥檚 recovery.
He said the company's 鈥渢ransformation remains on track鈥 as he gave an update six months on from the Chinese buy-out.
Jingye Group swooped for the ailing manufacturing giant after it was placed in compulsory liquidation, with debts of 拢880 million revealed at a High Court hearing in May 2019.
Agreeing a deal with the official receiver last November, the sale completed as stocks started to crash with coronavirus鈥 initial impact hitting the global economy.
Now the man at the helm of the Scunthorpe-headquartered giant is putting the emphasis on making a 鈥渟ignificant contribution to the 海角视频鈥檚 economic recovery,鈥 outlining how the company is developing new products, entering new markets and investing in the plant.聽聽
Mr Deelen said: 鈥淭he new British Steel is six months old and no-one could have predicted the challenges we鈥檝e all faced, personally and professionally, during this period.
鈥淲e were just a few days out of liquidation and embarking on an exciting new era under Jingye when Covid-19 took a grip in the 海角视频. For many of us the pandemic has been, and continues to be, one of the most testing times in our lives so I鈥檓 proud to say that despite the difficulties we and thousands of other companies are facing, the skill and dedication of our people means the transformation of British Steel remains on track.
鈥淥ur employees have maintained safe operations and production throughout the pandemic. We鈥檙e hugely grateful for this, and for the support our customers and suppliers continue to demonstrate. It鈥檚 not only helping us overcome the hurdles Covid-19 has created, it鈥檚 allowing us to start making the important changes this company requires.鈥
Two separate three-week production pauses at the Teesside Special Profiles business unit were instigated during the pandemic, both times returning at the earliest opportunity that furloughing allowed.
Looking ahead, Mr Deelen, who was chief executive of the FN Steel business in Holland, prior to its acquisition in late 2017, said: 鈥淲ith Jingye behind us, we鈥檙e embracing new ways of thinking along with smarter and more flexible ways of working.
鈥淲e鈥檙e developing new products, entering more markets and investing in our assets to modernise plant and improve performance. A great deal of hard work has already taken place, and much more lies ahead given the challenging market we鈥檙e in. However, the evolution of British Steel is underway and we鈥檙e well-placed to make a significant contribution to the 海角视频鈥檚 economic recovery.
鈥淏ritain needs to build for the future and we can play an important role in major infrastructure projects like HS2, which needs large quantities of high-quality products like our rail and constructional steel. We already have great experience of supplying into projects of this scale, and our people are focused on delivering the world-class products required.
鈥淭he benefits of 海角视频 manufacturers being at the heart of HS2, and similar ventures, will be felt far and wide. For example, every 1,000 tonnes of steel produced in this country creates work for 10 people 鈥 directly and in the supply chains and communities in which we operate.
鈥淚n partnership with Government, stakeholders, customers and suppliers we can help revive the economy 鈥 locally and nationally.
"Let鈥檚 build with 海角视频 manufacturers, build with 海角视频 steel and build a stronger future for everyone.鈥
British Steel traded through the 11 month insolvency period, with previous owner equity house Greybull - only having taken over in 2016 - immediately stripped of control.
Special managers were appointed, and - after a fruitless exclusive due diligence period with Turkish firm Ataer Holdings - Jingye emerged.
March saw the signing, with Business Secretary Alok Sharma present. A total of 3,200 jobs were saved, with 400 lost, but the deal brought with it a 拢1.2 billion investment promise.
A key element is an electric arc furnace on Teesside and a new power station at Scunthorpe, as well as investment in the rolling mills to produce high-quality steel products to optimise the portfolio, the building of a new rebar line and enhancements to the current rail mill.
As lockdown restrictions lifted, July saw a major conference held in China, with the product portfolio introduced to more than 300 sales representatives, customers, industry experts and academics in Hangzhou.
British Steel then took back control of Immingham Bulk Terminal, with the 89-acre deep water raw material handling facility having been handed back to Associated British Ports under the previous regime.
