Tees Valley Mayor Ben Houchen has visited British Steel Special Profiles site in Skinningrove, just a few weeks after the business announced a return to profit.
British Steel reported a £126 million turnaround in its first year as an independent business, providing a solid foundation for further growth.
Highlights that were announced at the time included:
- Supplied all of the rail for the Crossrail project in London – 57km of track in total
- 500 new employees joined since June 1 2016
- 50 new people starting this month (June 2017)
- New Chief Executive Officer appointed
- £40m of capital investment pledged for 2017-18
- Employees given 5% stake in business, 3% salary sacrifice concludes
- Recently completed an ownership transfer securing a 50% stake in Redcar Bulk Terminal
- 2nd year focus on increasing steel-making capability and market footprint, & improving product quality
Tees Valley Mayor Ben Houchen said: “The turnaround at British Steel is hugely positive and testament to the whole team.
“This is the first time I have visited the site and seen for myself the products they are pushing out. It’s clear that the company is investing heavily in its staff, infrastructure and in the local community which is great news for our area.
“As Mayor, I will do whatever I can to ensure there’s a long-term future for British Steel in the area.”
Peter Gate, British Steel Special Profiles Managing Director, said: “It was great to meet Ben, show him around our Skinningrove mill and demonstrate how British Steel is looking to build a sustainable future.
“One of the keys to our future success will be forming strong partnerships with people like the Mayor, the Tees Valley Combined Authority and local trade and industry. By working together I’m confident we can create a thriving regional economy.”