Thamesteel: 'Potential buyers' interested in Sheerness plant

Workers leaving the meeting with Thamesteel's administrators Thamesteel workers were told by administrators on Thursday that they would be made redundant

Related Stories

Administrators for a Kent steel firm where most of the workforce has been made redundant say they have received interest from potential buyers.

Thamesteel in Sheerness, which employed 400 people, is one of the biggest private firms on the Isle of Sheppey.

Accountancy firm Mazars confirmed that up to 350 workers would lose their jobs, with 50 retained to keep the plant in working order pending a sale.

It has taken out an advert in a national newspaper to find a buyer.

Staff were told by administrators on Thursday that they would be made redundant.

'Great workforce'

Rod Weston, of Mazars, said: "What we're trying to do is find a buyer for the business.

"We have a great workforce, a splendid facility, and we're now trying to find someone that may be interested in buying those assets and start up steel-making again in Sheerness.

"I've been contacted by four or five potential interested parties."

Thamesteel describes itself as "one of the fastest growing steel manufacturers in the UK" with an annual revenue of more than £100m.

In 2002, it was sold to Allied Steel and Works which then went into liquidation before the plant was acquired by the Saudi-based Al-Tuwairqi Group.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

BBC Kent

Weather

Canterbury

Min. Night 18 °C

Features

  • NS Savannah, 1962Nuclear dream

    The ship that totally failed to change the world


  • Ed Miliband takes a selfie at a Cambridge hairdressersNo more photo ops?

    Why is Ed Miliband drawing attention to his public image?


  • Espresso cup7 days quiz

    Which city serves the strongest cup of coffee?


  • Glasgow 2014 quaichs and medalsQuaich guide

    What do the Scottish gifts given to Games medallists symbolise?


  • Malaysian plane wreckage in UkraineFlight risk

    How odd is it for three planes to crash in eight days?


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.