Turnaround plans move forward as Sheffield Forgemasters agrees £4.5m contracts

SHEFFIELD FORGEMASTERS has continued its turnaround signing multi-million deals with Russian and German steel companies.

Two contracts for steel rolls were agreed with Russian giant Severstal and Germany’s only tinplate manufacturer ThyssenKrupp Rasselstein.

Manufactured in Sheffield, the finished rolls will be delivered in the coming year. The products will be used in cold rolling mills to roll sheets for car body panels at Severstal’s plan in Cherepovets in Russia.

The rolls for Rasselstein’s production facility in Andernach in western Germany will be supplied for the production of tinplate to make food packaging and aerosol cans.

Ken Brooks, senior sales manager at Forgemasters, said: “We first began working with Severstal in 1999 and in that 17 years Forgemasters now supplies more steel rolls to Severstal than any other roll maker. In fact, our share of supply to them has increased as the demand for domestic steel continues to be substantial.

“Both new contracts are testimony to the strength of our long standing relationships with both these companies as well as our position in the global steel market.

“Our expertise and development of state-of-the-art techniques allow us to deliver the highest quality products across the world.”

The announcement comes only a week after Forgemasters announced a major US defence contract worth £23m as it looks to refocus its business.

 The company implemented turnaround plans in January and has since begun to narrow pre-tax losses.

 

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