British Steel secures ￡50m funding facility
2020-11-12 09:54:45 [Print]
British Steel has secured a ￡50m facility from Secure Trust Bank to support plans to expand production and sales.
The steelworks, which has existed for about 150 years, supplies premium long products around the world and has facilities across the UK and Europe.
In March 2020, British Steel was acquired by Jingye Group, which made a commitment to making the business more competitive and sustainable.
British Steel is currently developing new products and is investing in its existing assets to modernize plants and improve performance. This includes the development of an Electric Arc Furnace in Teesside and the construction of a new power plant to improve efficiency of the Scunthorpe site.
This ￡50m facility will support British Steel in growing its production and sales volumes to maximize opportunities across the market.
The steelworks, which has existed for about 150 years, supplies premium long products around the world and has facilities across the UK and Europe.
In March 2020, British Steel was acquired by Jingye Group, which made a commitment to making the business more competitive and sustainable.
British Steel is currently developing new products and is investing in its existing assets to modernize plants and improve performance. This includes the development of an Electric Arc Furnace in Teesside and the construction of a new power plant to improve efficiency of the Scunthorpe site.
This ￡50m facility will support British Steel in growing its production and sales volumes to maximize opportunities across the market.
