Russian firm buys Welsh steelworks
Administrators confirm that Russian firm Libala Ltd has purchased Alphasteel for £57 million.
This is good news for the Steel community of South Wales as Alphasteel had ceased trading in 2007 after being placed in receivership.
Community has been providing support and advice to our members at Alphasteel since the redundancies and have lobbied the Welsh Assembly to support efforts to find a buyer.
Community is now hopeful that the Alphasteel site will resume production in December 2008 or early 2009.