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LIBERTY Steel’s Newport mill continues to make significant progress, achieving its best financial results for the first quarter, with the outlook for the second quarter looking even stronger. The business improved profitability last year despite challenging market conditions caused by COVID-19. The site manufactures hot-rolled coil (HRC) for use in the UK manufacturing and construction sectors.
This month, the Newport site welcomed Members of Parliament who are members of the UK Parliament Business, Energy and Industrial Strategy Select Committee to the site, including Jessica Morden, MP for Newport East.
Strong sales along with a much-improved operational performance have put the business on a profitable footing. LIBERTY Steel invested just over £2 million last year in modernising the Newport plant and this has continued with £1.1 million spent in the first three months of this year. Investments include new gas furnace software and controls to lower gas consumption and reduce the plant’s carbon footprint.
The improved profitability also coincides with significant health & safety improvements under LIBERTY’s site management stewardship. New health and safety protocols mean the plant has now gone over 16 months without a Lost Time Accident, reflecting the importance GFG Alliance’s businesses place on keeping their workers safe.
LIBERTY Steel Newport’s Managing Director, Michael Perry, said: “These achievements are testament to the hard work of all our workforce in recent years, particularly the last 18 months given the challenges posed by the pandemic. I’m particularly proud of the strides that we have made in making the site a safer place to work, along with offering much-improved pay and welfare facilities as our workforce is our biggest asset in the business”.“Demand for our product is strong with the construction sector bouncing back from the impact of COVID-19 and we’re looking forward to setting more production and sales records over the coming months. It’s a great team here going from strength to strength.”
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