Liberty Steel, part of Sanjeev Gupta’s global GFG Alliance, completed the acquisition of seven major steelworks and five service centers across seven European countries from ArcelorMittal.
The €740 million deal makes Liberty Steel one of the top 10 producers globally, excluding China, with a total rolling capacity in excess of 18 million tonnes covering a wide range of finished products.
This is the largest single transaction undertaken by GFG and brings the Alliance’s worldwide workforce to nearly 30,000 across 30 counties.
The seven sites, which became part of Liberty, employ over 14,000 people and include the major integrated steel works at Ostrava in the Czech Republic and Galaţi in Romania as well as rolling mills at Skopje (North Macedonia), Piombino (Italy), Dudelange (Luxembourg) and two plants near Liege in Belgium. The service centers are based in France and Italy.
These operations supply steel to multiple sectors across Europe’s industrial heartlands, including: construction and infrastructure products, automotive, aerospace, energy, industrial equipment, consumer products and yellow goods. Liberty Steel aims to boost sales from these sites by around 50 percent over the next three years.
Published in the August 2019 Edition