Union welcomes sale of Hartlepool Liberty Steel pipe mills to ‘major global manufacturer’

Union welcomes sale of Hartlepool Liberty Steel pipe mills to ‘major global manufacturer’.

A rapid sale of a Hartlepool steel pipe company has been agreed, with the outgoing owners claiming that it will assure continuous production and development potential.

Liberty Steel began an Accelerated Sales Process in January for its Hartlepool pipe factory on Brenda Road, employing about 170 workers.

In an internal email sent with employees on Monday, executives said that a “major global pipe manufacturer” had been chosen as the new buyer, following interest from a number of investors.

In the memo, Liberty’s chief transformation officer, Jeffrey Kabel, and Tozer Ozcan, CEO of parent company Green Steel EMEA, stated, “This transaction has been structured to protect all stakeholders and ensure the continuation of production at Hartlepool.”

“It protects skilled jobs and is anticipated to boost industrial activity in the region.

“Under Liberty’s ownership, we have taken aggressive actions to maintain operational continuity and commercial stability during hard circumstances.

“While we faced difficulties, we believe that exploring a change of ownership is a constructive step toward ensuring the site’s long-term viability and sustainability.

“We are confident that this transition will open new opportunities for growth and success.”

The buyer’s name has not yet been released due to company clearance formalities.

The union representing workers at the Hartlepool site has welcomed the news of the sale.

Paul McKenna, Community Union’s national secretary for steel, said: “We are pleased to hear that the fast sales process for the Hartlepool mills has been completed.

“We look forward to meeting with the new owners and hearing more about their plans for the works. “This is a business with superb facilities and enormous potential, and with the appropriate strategy in place, there’s no reason why it shouldn’t have a bright future ahead.”

Liberty Steel purchased the Hartlepool mills from Tata in 2017, with boss Sanjeev Gupta welcoming it as “a new beginning”.

 

However, Liberty’s UK operations have been plagued by uncertainty since 2021, when its financiers Greensill Capital filed for bankruptcy after experiencing “severe financial distress”.

Nonetheless, the Hartlepool site has continued to function, most recently producing over 50,000 tonnes of pipes for a significant Teesside carbon capture project.

Read more on Straightwinfortoday.com

Comments are closed, but trackbacks and pingbacks are open.