Resurgent British Steel raids Austrian group for new boss

The company which resurrected the British Steel name when it took over a big plant in Scunthorpe last year will mark another milestone on Friday when it names an Austrian steelmaker's executive as its new boss.

Sky News has learnt that the privately owned company will announce the appointment of Peter Bernscher, 48, as its chief executive.

Mr Bernscher will join from Voestalpine (IOB: 0MKX.IL - news) , an Austrian speciality steelmaker, and will report to Roland Junck, British Steel's executive chairman.

His arrival will come as British Steel remains on track to make a profit in its first year of operation since Tata Steel (BSE: TATASTEEL.BO - news) sold the business to Greybull Capital, the private investment firm which also owns the airline Monarch.

It will also emerge in a week of broader significance for the UK steel sector, with workers at Tata Steel's other British operations voting in favour of a deal that will preserve their jobs at a cost to their retirement benefits.

That agreement could pave the way for a merger of Tata Steel's European assets with Germany's ThyssenKrupp (IOB: 0O1C.IL - news) , although several obstacles - including the consent of the UK Pensions Regulator - remain to its completion.

British Steel produces steel for customers in sectors including construction and rail.

It said recently that it would reverse a salary cut for more than 4000 workers agreed last year in an effort to preserve the Scunthorpe steelworks' future.

Speaking last month, Mr Junck, who will step back to being non-executive chairman at the end of the year, said British Steel had won a "significant contract awards from across the globe" since the Greybull takeover.

"Domestically we are in a unique position to provide large quantities of steel for developments throughout the UK, whether that be with major infrastructure projects such as HS2 and Heathrow or smaller projects, such as the building of new schools and hospitals," he added.

British Steel could not be reached for comment on Friday.