British steel companies are actively seeking new buyers while operating normally

Release time：Sep 19, 2019 From：admin

British Steel, the UK's leading steel producer, recently announced that its sales prospects are optimistic, and the number of buyers and bid prices are “inviting”. According to related reports, although the British steel company is undergoing bankruptcy liquidation, production is still proceeding normally, and the official receivers will still focus on finding buyers.

Gerald Reichmann, CEO of British Steel, said: “I am very pleased that many bidders are interested in acquiring British steel companies. Due to the complexity of the group and related businesses, we need time to evaluate the quotes received. Further contact with stakeholders can take several weeks before further announcements can be made about the sale process. We are always committed to ensuring the long-term future of the entire business, in which we will normally trade and supply with our customers."

In May of this year, the British Supreme Court ordered the British steel company with major financial problems to go bankrupt. The British government refused to provide £30 million in loans to British steel companies, which led to bankruptcy.

The British steel mill in Scunthorpe can produce 700,000 tons of coke, 4.3 million tons of pig iron, 4.5 million tons of semi-finished billets, 600,000 tons of rails and 400,000 tons of long products. The Teesside Beam and Skiningrove plants are designed to produce 750,000 tons/year steel beams and 240,000 tons/year steel.