Romanian steel mill Liberty targets 50% increase in output to 3 mln tonnes

Integrated Romanian steel mill Liberty Galati, formerly known as Sidex Galati, targets a production of 3 mln tonnes of steel in 2021, 50% more compared to the output of about 2 mln tonnes of steel in 2020, a company official told Ziarul Financiar daily.

"Production and deliveries have increased in both quarters of the year, and we are currently targeting an annualized production of 3 mln tonnes, up from around 2 mln tonnes in recent years. These excellent results were achieved due to the efforts of the local team, the support from Liberty Steel and the very favourable market conditions," Liberty representatives said, answering ZF questions asked as the international press recently wrote that the GFG group Alliance, the main shareholder of Liberty Galati, is in talks with White Oak Global Advisor, an alternative asset manager and credit firm in the United States, to refinance its operations in Europe.

Asked if the Galati plant was one of the assets under discussion, Liberty representatives said: "The GFG and the Restructuring and Transformation Committee (RTC) are in talks with several stakeholders on Liberty Steel Continental Europe, which also includes Liberty Galati. We do not comment on who is involved in these discussions."

(Photo source: the company)