British Steel announces investment in manufacturing technology

The investment will go towards the installation of a new casting machine, a scrap preheater and a new environmental control system.

British Steel has announced a £ 100 million investment this year to improve its operational and environmental performance. The proposed investment will support the next phase of the company's transformation.

According to the company's press release, the investment is aimed at securing a long-term future for British Steel. It will focus on significantly improving manufacturing technologies by reducing the carbon footprint. Business is said to be on a more sustainable footing. It should be noted that British Steel has recently returned to profit.

The investment will go towards the installation of a new casting machine, a scrap preheater and a new environmental emission control system. It is also planned to purchase several new cranes.

Li Huiming, CEO of Jingye Group, noted that the skills and dedication of its employees have enabled British Steel to maintain safe iron and steel production throughout the pandemic and meet customer needs. “The company is optimistic about the future, as increasing production, reducing costs and entering new markets tend to create a solid platform for further development,” he added.

In a related announcement, the company announced that its CEO Ron Deelen will step down at the end of March this year. British Steel President Xijun Cao will take over as CEO in early April.