An investor is to splurge up to £100m in its existing UK steel operations in Cardiff.
Czech investment group Sev.en Global Investments (Sev.en GI) UK investment programme over the next four years will focus on installing a hydrogen furnace and a range of operational improvements and maintenance at the Cardiff electric arc furnace plant it acquired a year ago.
Alan Svoboda, CEO, Sev.en Global Investments said: “We welcome the direction the UK is taking to strengthen its steel sector. This is the right moment for serious, long-term investors. We are ready to commit capital – and we have a proven track record of actively managing and developing industrial businesses over the long term.”
“The company is seeking to bring not just financial capacity, but also its model of active ownership and operational engagement. This approach is underpinned by its experience with Wales-based 7 Steel, which it acquired in April last year.”
“Steel is not a financial trade – it is a strategic industry. It requires continuity, operational discipline and a willingness to invest through the cycle. That is exactly how we invest.”