Blastr preferred for ex-Liberty Steel's SSUK sites

TL;DR

Norwegian green steel firm Blastr emerges as preferred bidder for insolvent Speciality Steel UK (SSUK), formerly part of Sanjeev Gupta's Liberty Steel.
UK official receiver enters five-week exclusive talks with Blastr for sites in Rotherham and Stocksbridge, home to UK's largest electric arc furnace.
Deal could restart viable steelmaking and safeguard around 1,450 jobs after prolonged uncertainty from Gupta's cash shortages.

The story at a glance

Norway's Blastr Green Steel has been named the preferred bidder by the UK's official receiver for Speciality Steel UK (SSUK), the Rotherham and Stocksbridge plants once central to Sanjeev Gupta's Liberty Steel empire. The receiver took control last August after a high court ruled SSUK hopelessly insolvent due to chronic funding shortfalls. This development follows months of bids from rivals and comes as the government seeks quick resolution to protect steelmaking capacity.[[1]](https://www.theguardian.com/business/2026/apr/15/norwegian-group-liberty-steel-blastr-ssuk-south-yorkshire-rotherham-stocksbridge)[[2]](https://www.theguardian.com/business/2025/aug/21/government-control-liberty-steel-south-yorkshire-sanjeev-gupta)

Key points

SSUK operates the UK's largest existing electric arc furnace in Rotherham and additional works in Stocksbridge, South Yorkshire; seen as viable but starved of working capital under Liberty Steel.
Placed into compulsory liquidation in August 2025 by London high court after Gupta's GFG Alliance faced creditor claims and Greensill Capital's 2021 collapse eroded its empire.
Blastr, owned by Norwegian investor Vanir Green Industries and led by steel veteran Mark Bula, has no current plants but develops green hydrogen steel in Finland; advised by Evercore on the bid.
Exclusive negotiation period lasts five weeks, with Blastr likely needing to secure financing; government prioritises early sale completion.
Previous bidders included UAE's Arabian Gulf Steel Industries and Czech-owned 7 Steel UK; Blastr now leads after process whittled options.
Around 1,450 jobs at risk, with workers facing years of uncertainty including furlough and minimal production.[[2]](https://www.theguardian.com/business/2025/aug/21/government-control-liberty-steel-south-yorkshire-sanjeev-gupta)

Details and context

SSUK recycled scrap into speciality steels but struggled under Liberty Steel's broader woes, producing little for over a year as Gupta prioritised cash elsewhere in his group. The official receiver's intervention kept sites secure and payroll running short-term, buying time for buyers while government covered costs.

Blastr's interest aligns with UK pushes for greener steel, given its low-carbon focus, though it must prove funding and restart plans. This echoes government's recent takeover of Chinese-owned British Steel in Scunthorpe, highlighting strains in domestic capacity amid import pressures and transition to electric arc furnaces.

Union leaders stress due diligence for long-term stability, wary after Gupta's prolonged hold amid insolvency.

Key quotes

"The official receiver will look to complete the sale at the earliest opportunity." — UK government.[[1]](https://www.theguardian.com/business/2026/apr/15/norwegian-group-liberty-steel-blastr-ssuk-south-yorkshire-rotherham-stocksbridge)

"Liberty Steel workers have been at the sharp end of years of uncertainty... Any sale must include due diligence which guarantees ongoing operations." — Charlotte Brumpton-Childs, GMB union national secretary.[[1]](https://www.theguardian.com/business/2026/apr/15/norwegian-group-liberty-steel-blastr-ssuk-south-yorkshire-rotherham-stocksbridge)

Why it matters

The stake involves preserving UK's electric arc steelmaking amid global shifts to low-carbon production and vulnerability to cheap imports. A Blastr deal could secure 1,450 jobs in South Yorkshire and validate government intervention in strategic industry. Watch if exclusive talks yield funding and firm commitments within five weeks, though no outcome is assured.