Staffordshire steel entrepreneur grows portfoilo with new deal

A STAFFORDSHIRE steel entrepreneur has expanded his portfoilo with the acquisition of a Yorkshire business in a deal that saves the jobs of 50 people.

Henry Dickinson, owner-manager of Cannock-based Norton Aluminium, which was bought out of administration in 2012, has acquired Kiveton Park Steel, in an undisclosed deal.

Family-owned Kiveton Park Steel, which employed 120, went into administration in September 2015 . The remaining 70 jobs have not been saved.

The sale will allow Kiveton to continue trading on its current 15-acre site at Dog Kennel Hill in Sheffield.

In December 2015, a deal was secured that would allow Kiveton to keep trading until June 2016, giving administrators FRP Advisory time to find a buyer for the beleaguered business.

The further extension to key customer supply agreements followed a two-month deal agreed in October, ensuring the company had sufficient funding to continue to trade.

It blamed poor cash flow due to a decline in demand from the specialist steel sector as the cause.

Kiveton, which manufactures drawn steel bar and wires has traded since 1922, and has customers including Delphi Automotive, from which it received a financial lifeline during the process.

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