British Steel upgrades wire-rod business

Posted on 02 Aug 2018 and read 574 times
British Steel upgrades wire-rod businessBritish Steel has announced the biggest single investment in its manufacturing operations for a decade, with a £50 million scheme to upgrade its wire rod business.

This will significantly improve the quality and range of wire rod produced at the company’s headquarters in Scunthorpe, enabling it to grow in current markets and enter new ones (both inside and outside the UK); it will also allow for a wider range of sizes (up to 28mm in diameter) with tighter tolerances to be achieved, as well as enable
improvements in surface condition and micro-structural properties.

The expenditure is in addition to the £120 million British Steel has already committed to capital projects during its first three years of business and comes eight months after it bought FNsteel, a premium wire-rod manufacturer in The Netherlands.

Paul Martin, British Steel deputy CEO, said: “This is a major investment in the future of our business, underpinning our commitment to providing customers with higher technical specifications of steel and a diverse premium product range.

“This will not only increase our ability to serve the domestic market, but also allow us to become a more-competitive exporter and accelerate the growth of British Steel in line with our company strategy.”

The investment will see a new modern wire-rod line, designed and installed in the current mill by Primetals. Work is scheduled to start this summer, and the new operation is set to be commissioned in autumn 2019.

New laboratories have just opened, ensuring that the mill has world-class testing facilities. The existing wire-rod business, which employs 300 people, will operate as normal throughout the installation.

Richard Sims, British Steel managing director (wire rod), said: “Our wire rod performs an essential role in letting people go about their everyday lives, from the car or bus they travel to work in to the bed they sleep in at night.

“It is one of the most diverse products available, so this investment will not only deliver significant improvements to our customers but to hundreds of millions of end users.”

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