Sev.en from the Czech Republic offers British Steel's joint bid with SSUK
Czech Energy and Investment Group сев.ги Global Investments has expressed interest in a possible combination of a bid for British steel and UK specialty steels, arguing that a single buyer can create a stronger and more stable future for the UK steel industry, according to a guardian report. This proposal, if implemented, could transform the country's steel sector, creating Britain's largest steel producer.
Sev.en offers a joint solution for British Steel and SSUK
Sev.en Global Investments stated that the UK government should look for one buyer for both British Steel and Speciality Steel UK. The group stated that such a merger could create the country's largest steel producer and provide a more reliable industrial solution.
The company already owns the UK's largest electric steelmaking plant and said it plans to invest 100 million pounds in the UK, mainly in the electric arc steel plant in Cardiff, which it acquired last year. Sev.en also said it has the opportunity to invest hundreds of millions more pounds in the UK through its brand. 7 Steel.
Sev.en says the UK needs a buyer with steel production experience
In an interview with the Guardian, Sev.en CEO Alan Svoboda said that the UK government should look for a large company with proven steel production experience that could compete with the British Steel plant in Scunthorpe, Lincolnshire, and the SSUK electric arc furnace plant in South Yorkshire.
Although Svoboda stated that it could not discuss specific negotiations with the government or other parties, it suggested that a combined approach could be more attractive if it reduced the need for taxpayer support.
Author: Stilorbis
Steelorbis.com