It was reported that contacts with the Official Receiver are ongoing regarding the sale covering the plants in Rotherham and Sheffield.
With more than 1,000 employees, Speciality Steels UK (SSUK) previously operated as part of the metals group owned by businessman Sanjeev Gupta. The company was placed into compulsory liquidation by court order last summer and declared insolvent. Following the ruling, a process was launched for the sale of assets and the future of operations.
Since the start of the liquidation process, several investor groups have reportedly expressed interest in acquiring the company. Blastr is among the limited number of candidates involved in the process.
Blastr’s management includes Mark Bula, who previously held positions at U.S. steel producers Nucor and Big River Steel, both known for electric arc furnace-based production and lower carbon intensity targets.
Norway-based Blastr aims to establish a steel value chain centered on environmental sustainability alongside a low-cost, globally competitive production model. The company is reported to be planning expansion in the United Kingdom and across Europe in line with this strategy.
A final decision regarding the future of SSUK is expected once the evaluations within the liquidation process are completed.
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