Important strategic asset’s return a ‘significant step forward for new business’ – CEO
British Steel is to take back control of port facility Immingham Bulk Terminal.
A deal has been agreed with Associated British Ports for the 89-acre site, with crucial deep-water unloading facilities.
Described as an integral part of British Steel’s operations, it was operated by the manufacturer up until 2018 when its then owners agreed to pass control to ABP.
Now British Steel is under the ownership of the Jingye Group, it has agreed to take back running of the terminal which handles millions of tonnes of its raw materials each year.
Chief executive Ron Deelen said: “The return to British Steel of an important strategic asset like Immingham Bulk Terminal is another significant step forward for our new business.
“IBT handles iron ore, coke and coal en route to our manufacturing headquarters in Scunthorpe so this deal strengthens our control over this vital part of our supply chain.”
(Image: British Steel)
The terminal, on the west side of the port, can handle up to nine million tonnes of raw materials a year to support steel production.
Under the terms of the agreement, 36 employees are transferring to British Steel from IBT Ltd, which is owned by ABP – a figure down nine on the handover back in November 2018.
Mr Deelen said: “I’d like to welcome everyone into the business and look forward to continuing to work alongside ABP in an exciting new chapter in our history. With Jingye’s investment behind us, British Steel can play an important role in the future recovery of the UK economy . . . .
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