Saudi-based AIC Steel Group has acquired the former Rowecord structural steel fabrication plant in Newport, Wales, and intends to restart production, creating 120 jobs, according to media reports. Rowecord plant went into administration in April 2013, leaving 430 people unemployed.
The company will produce 18,000 mt of structural steel at the plant each year. AIC Steel Group believes that South Wales has a strong supplier infrastructure and also expects to benefit from local port facilities in terms of export activity.