As the mill stands idle there will be no job losses and the decision allows British Steel to further concentrate on, and significantly invest in, its iron and steel-making operations and core products. Redundant plant from the mill will now be sold after the company appointed the specialist firm of Apex Auctions to manage the sale of equipment.
British Steel Deputy CEO Paul Martin said: “This process presents an excellent opportunity for steel manufacturers across the world to acquire some unique plant and machinery. All the equipment will be auctioned or sold via private treaty including mill drive motors and associated control systems, high pressure water descaling pumps, trimming/cross cut shears and hot/cold plate levellers.”
No decision has been made on whether or not the mill building, which has played a significant part in the Scunthorpe site’s history, will be demolished. Paul said: “The mill was mothballed in December 2015 as part of the restructuring of the Long Products Europe business and came in response to changes in market conditions prompted by cheap imports and high electricity costs.”
Apex Auctions is part of the Apex Group which has more than 50 years’ industry expertise in helping companies in the UK, Europe and US sell excess equipment.
_{(Source: British Steel)}