Czech Sev.en proposes joint bid of British Steel with SSUK

Czech energy and investment group Sev.en Global Investments has expressed interest in a possible joint bid for British Steel and Speciality Steel UK, arguing that a single buyer can create a stronger and more stable future for the UK steel industry, according to a report by The Guardian. The proposal, if implemented, could transform the country's steel sector, creating the largest steel producer in the UK.

Sev.en offers a combined solution for British Steel and SSUK

Sev.en Global Investments stated that The UK government should seek a single buyer for both British Steel and Speciality Steel UK. The group said that such a combination could create the country's largest steel producer and provide a more reliable industrial solution.

The company already owns the UK's largest electric steel plant and said it plans to invest £100 million in the UK, mainly in an electric arc steel plant in Cardiff, which it acquired last year. Sev.en also said it has the opportunity to invest hundreds of millions of pounds in the UK through its 7 Steel brand.p>

Sev.en says that the UK needs a buyer with steel production experience

Speaking to The Guardian, Sev.en CEO Alan Svoboda said that the UK government should look for a large company with proven steel production experience to take over the British Steel plant in Scunthorpe, Lincolnshire, and SSUK electric arc furnaces in South Yorkshire.

Although Svoboda said he couldn't discuss the specifics.