Liberty has an ambitious strategy, designed to trigger a renaissance of manufacturing: re-growing steel manufacturing, re-invigorating the supply chain, spurring the development of new sustainable sources of power, retaining and generating new skilled jobs, creating a more sustainable and competitive future for industry.
Our mission is to transform steel and related manufacturing into a global technology and product leader through our GREENSTEEL plan.
By harnessing vast underused national resources, we can reverse the trend that currently sees 80% of the 21m tonnes of steel Britain consumes each year coming from abroad. Here is how we plan to do this:
1. Win back steel by attacking the growing mountain of exported scrap.
We will target the melting and refining of up to 5mt of annual recycled steel by 2020.
We will target the rising amount of steel scrap available in this country (up to 20mt in the next 2 decades) and invest in Electric Arc Furnace technology combined with the world-leading metallurgy knowledge available in this country. Our plan includes the up-skilling necessary for the steel workforce and partnering with customers to ensure we continue to supply the grades of materials required for market success.
2. Invest in green energy, not green taxes.
We have committed investment in generation of low-cost, low carbon power for use in steel recycling.
We will strive to reduce the impact of carbon taxes imposed on coal and gas based electricity to the manufacture steel (but not on coal for blast furnaces). We already hold investments in low cost power from hydro to bio fuel, and we are working to convert coal power plants to biomass and waste-to-energy stations. We will seek to grow our renewable energy portfolio to the advantage of our steel and engineering capabilities.
3. Invest in British engineering, rebuilding downstream industries.
We will invest in downstream steel and engineering capacity to support the needs of UK manufacturing sectors, creating further direct and indirect employment opportunities.
Liberty already has a track record in restarting steel mills and rescuing downstream and engineering businesses. Our plans involve the use of steel recycling technology to feed competitively priced GREENSTEEL into businesses manufacturing downstream products, and build on our engineering capabilities, serving growth and technology focused industries such as the automotive, motorsport, aerospace and defence. By doing so we will create new employment opportunities into UK manufacturing, both direct and indirect to our chosen sectors.
4. Recharge the steel sector, industrial strategy and the economy.
By strengthening the UK steel industry, Liberty will deliver a strong positive impact on the domestic economy and demonstrate a new approach to our manufacturing strategy.
We have a clearly defined roadmap for re-building the UK steel and engineering industries, based on new technologies, industry, product and material knowledge, sustainable energy as well as the safe-guarding and development of valuable skills already in existence. Its continued implementation will revitalise the supply chain, creating a significant positive impact on the UK economy and setting the scene for a new industrial strategy in the United Kingdom.