Two steel businesses sold out of administration saving 50 jobs

Two steel companies in West Bromwich have been sold out of administration, saving 50 jobs across two sites.

Mike Denny and Matthew Hammond of PwC were appointed as joint administrators of D&J Steels on 11 September, and Bromford Iron & Steel on 23 September.

This morning, the joint administrators announced the sale of the businesses in two separate transactions, safeguarding jobs at the two sites at Bromford Lane in Oldbury.

D&J Steels is a specialist steel stockholding business serving the engineering, forging, fabrication, oil and gas sectors since 1970.

Bromford Iron & Steel, which can trace its roots back to 1610, is a leading producer of hot rolled flats, sections and custom profiles supplied worldwide.

Denny said: “We’re delighted to have achieved going concern sales for both businesses during a challenging time for the steel industry.

“The sales have preserved all jobs within the businesses, and will minimise disruption to key customers.

“Both D&J and Bromford had faced financial difficulties due to a combination of steel price volatility and high energy costs, which were compounded by the withdrawal of credit insurance.

“We’re pleased with the outcome achieved, which ensures the long history of steel processing on this site spanning over 400 years continues.”