Exclusive: Sev.en Global Investments could turn state-owned businesses into Britain’s biggest steelmaker
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The owner of the UK’s largest electric steelworks has said the government should find a single buyer for British Steel and Speciality Steel UK (SSUK), a move that would create the country’s biggest steelmaker.
Sev.en Global Investments, owned by the Czech billionaire Pavel Tykač, said it not only plans to invest £100m in the UK – mainly in the electric arc steelworks in Cardiff it bought last year – but also has the ability to invest “hundreds of millions of pounds” more in Britain under its 7 Steel brand.
Alan Svoboda, Sev.en’s chief executive, told the Guardian the government should look for a large company with a track record of steel production to take on British Steel’s plant in Scunthorpe, Lincolnshire, and the SSUK electric arc furnace operation in South Yorkshire, in a thinly veiled pitch for the government to consider 7 Steel as a potential buyer.
