Sites in Sheffield and Rotherham set for new owner as photos show Speciality Steel is the real deal

New photos show Speciality Steel is the real deal as it awaits a new owner.

The company issued shots of hot steel on the mill, specialist processing and finished materials awaiting despatch as a reminder of “the skill, experience and commitment” of the workers at its sites in Stocksbridge and Rotherham.

Talks are ongoing between the government and preferred bidder to buy the company, Norwegian firm Blastr.

Speciality Steel employs 1,300 at sites in Stocksbridge, Rotherham and Wednesbury, it wracked up huge debts as part of GFG Alliance, owned by Sanjeev Gupta.

It was put into liquidation due to its debts in August and is under the control of the Official Receiver - part of the government’s Insolvency Service.

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In April, the Official Receiver said an exclusivity period was set to last five weeks “during which the preferred bidder will progress their bid.”

The aim was to: “Complete the sale at the earliest opportunity.”

Many workers are on furlough, being paid a percentage of wages in the expectation of being called back to work.

While some sections, including the electric arc furnaces in Rotherham, are not operational, these photos show the company’s specialist hot rolling, processing and technical expertise.

Blastr declined to comment.

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