Union welcomes sale of Hartlepool Liberty Steel pipe mills to 'major global manufacturer'
A quick sale of a Hartlepool steel pipe mill has been agreed that the outgoing owners say will ensure continued production and opportunities for growth.
Liberty Steel launched an Accelerated Sales Process at the end of January for its Hartlepool pipe mills, in Brenda Road, where around 170 people are understood to work.
In an internal communication shared with staff on Monday, bosses said a “major global pipe manufacturer” has been selected as the new buyer following interest from various investors.
Liberty’s chief transformation officer Jeffrey Kabel and Tozer Ozcan, chief executive officer of parent company Green Steel EMEA, said in the note: "This transaction has been structured to protect all stakeholders and ensure the continuation of production at Hartlepool.
“It safeguards skilled employment and is expected to enhance industrial activity in the region.
“Under Liberty’s ownership, we have proactively taken steps to ensure operational continuity and stabilise the business during challenging times.
"While we faced constraints, we believe that pursuing a change of ownership is a positive move to secure a vibrant and sustainable long-term future for the site.
"We are confident that this transition will open new opportunities for growth and success.”
The name of the buyer has not yet been disclosed subject to company clearance processes.
News of the sale has been welcomed by the union that represents workers at the Hartlepool site.
Paul McKenna, national secretary for steel at Community Union, said: "We welcome news that the accelerated sales process for the Hartlepool mills has now been completed.
"We look forward to meeting with the new owners and hearing more about their plans for the future of the works.
"This is a business with excellent facilities and enormous potential, and with the right strategy in place there's no reason why it shouldn't have a bright future ahead."
Liberty Steel bought the Hartlepool mils from Tata in 2017 with boss Sanjeev Gupta then hailing it as “a new beginning”.
But there has been continued uncertainty for Liberty’s UK operations since 2021 when its lenders Greensill Capital filed for administration after falling into “severe financial distress”.
Yet the Hartlepool site has continued to operate including recently providing over 50,000 tonnes of pipes for a major Teesside carbon capture project.