Liberty Steel to sell Stockbridge plant

Sale of UK facility part of wider restructuring strategy.

Liberty Steel is to sell off its Stockbridge steel plant.

The sale will include its downstream facilities - the narrow strip mill at Brinsworth and Performance Steels at West Bromwich. The move would allow Liberty to focus on its Rotherham plant which recycles scrap steel into new.

The move is part of a restructuring plan to allows it to pay back one of its main creditors in full. The announcement comes after a meeting over the weekend in Dubai between Liberty Steel owner Sanjeev Gupta and representatives of Credit Suisse.