STEEL jobs at a Bolton plant have been protected after a £100 million takeover deal.

Liberty House has formally completed its acquisition of the Speciality Steels division of Tata Steel UK, which operates a small site at The Valley.

The Bolton plant, which employs 36 people, is an aerospace service centre that supplies steel for major manufacturers around the world, including Airbus and Boeing.

Liberty House has announced expansion plans expected to generate an additional 300 production jobs across the business, which also includes three major sites in South Yorkshire, another facility in the West Midlands, and two distribution centres in China.

Sanjeev Gupta, executive chairman of Liberty House, said: “Today marks a step change for the Liberty House Group because we are taking on strategically important capacity that will drive expansion in the years ahead.

“It will help us achieve our ‘greensteel’ vision and facilitate investment in engineering products, thereby reducing the supply chain gaps in the UK, especially in automotive and aerospace sectors.

“By investing to acquire Speciality Steels we are casting a big vote of confidence in the future of British industry.

“With the right business model and an innovative approach, the UK steel and engineering sectors can recover and thrive.

“The Government is now pursuing a new post-Brexit industrial strategy and steel must be at the heart of that strategy.”

Liberty said it will invest up to £20 million in new plant and equipment in the next year to boost competitiveness.

Roy Rickhuss, general secretary of the Community trade union, said: “The completion of the sale will bring some welcome certainty to a workforce that has faced a tough time over recent months and years.

“It’s testament to the skills and commitment of the steelworkers and the trade union leadership within the business that Liberty has taken on Speciality Steels and given it new hope.”