British business seeks help for Arrium bid

Industrial company Liberty House and its partner SIMEC have acquired the services of a key executive from Nyrstar to oversee their bid for Arrium Australia.

Industrial company Liberty House and its partner SIMEC have acquired the services of a key executive from Nyrstar to oversee their bid for Arrium Australia.

The two companies are bidding through their GHG consortium which, if successful, would take over Arrium’s assets in South Australia including the Whyalla steelworks.

Michael Morley, formerly Vice President at European metals business Nyrstar will lead the bid process. His previous role meant he oversaw a workforce of 3,000 people across Europe, the United States and Australia.

He has expert knowledge of the local metals business as he oversaw the Port Pirie lead smelter which underwent a $660 million upgrade.

Mr Morley said Liberty and SIMEC had a bold vision for a vertically integrated and sustainable steel business that encompassed mining, liquid metal production, engineering and distribution. It would also include metal recycling and the use of renewable energy.

“It’s an exciting strategy that they are already pursuing successfully in the United Kingdom,” he said.

Arrium’s administrator, KordaMentha, is in the final stages of the sale process with Liberty House and SIMEC and a second group led by South Korea’s POSCO.

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