“While Greensill’s difficulties have created a challenging situation, we have adequate funding for our current needs,” the company said in a statement, adding the plant had solid profit margins and most core activities generated positive cash flow.
The company said the parent group GFG Alliance as a whole was “operationally strong” and benefiting from a 13-year high in steel prices.
It added that securing alternative long-term funding was “progressing well”, but would take “some time” to organize.