Indian steel magnate to visit Scunthorpe to meet workforce at former Caparo Merchant Bar

By Scunthorpe Telegraph | Posted: 12 Oct 2017

Indian steel magnate Sajeev Gupta will visit Scunthorpe today (October 12) to meet the work-force at his latest acquisition.

It will be the first visit by Mr Gyupta, 45, to the town since July 3 when his Liberty House Group bought the former Caparo Merchant Bar mill on Brigg Road for an undisclosed sum.

After 32 years, the mill which employs 145-staff has been re-named Liberty Steel Scunthorpe.

Joining Mr Gupta at an inauguration ceremony tomorrow will be the former Scunthorpe works site director Jon Bolton who is now in charge of steel-making for Liberty.

The Caparo Merchant Bar mill in Scunthorpe

In the past 18 months the Liberty founder and executive chairman has been hailed as the saviour of the UK steel industry, having bought two rolling mills in Scotland, two pipe mills in Hartlepool and the speciality steels business in South Yorkshire from Tata Steel saving thousands of jobs.

The Scunthorpe mill, which is capable of producing 400,000 tonnes a year, has remained in profit since 2015 when its parent company Caparo Industries Plc went into administration.

The take-over deal which has been welcomed by the industry’s main union Community was subject to agreement over a new pension scheme for the employees.

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