Liberty Steel to sell aerospace steel business in Yorkshire
2021-05-25 14:33:08 [Print]
The UK's Liberty Steel has announced plans to sell its aerospace steel business in Yorkshire as part of a restructuring deal as it tries to ensure its survival.
The under-pressure steel firm said on Monday it was in talks with Credit Suisse, a large creditor, over agreements that would give it time to repay its debts.
The talks with Credit Suisse include a plan to sell its aerospace and special alloys steel business in Stocksbridge, South Yorkshire, plus an associated facility nearby and another in the West Midlands.
Liberty said it was in "advanced discussions" over a standstill agreement with Credit Suisse in relation to an Australian business that would see the bank repaid in full. Talks over the UK business have not progressed as far.
The under-pressure steel firm said on Monday it was in talks with Credit Suisse, a large creditor, over agreements that would give it time to repay its debts.
The talks with Credit Suisse include a plan to sell its aerospace and special alloys steel business in Stocksbridge, South Yorkshire, plus an associated facility nearby and another in the West Midlands.
Liberty said it was in "advanced discussions" over a standstill agreement with Credit Suisse in relation to an Australian business that would see the bank repaid in full. Talks over the UK business have not progressed as far.
