Liberty Steel, part of GFG Alliance -- a global company owned by Sanjeev Gupta, completed on July 1 the deal by which it took over from ArcelorMittal seven steel factories and five service centers in seven European countries for EUR 740 million.
Among the assets subject to the deal, there is the integrated steel mill located in Galati (formerly known as Sidex), which changes its name from ArcelorMittal Galati to Liberty Galati.
The seven units, which have become part of Liberty, employ 14,000. The most important assets are the steel factories in Ostrava in the Czech Republic and Galati in Romania, as well as the Skopje mills in North Macedonia, Piombino (Italy), Dudelange (Luxembourg) and two factories near Liège in Belgium. The service centers are located in France and Italy.
Liberty Steel will raise the output of the Romanian steel mill at Galati by 50% to 3 million tonnes of crude steel after it takes it over from ArcelorMittal, the company’s CEO Jon Bolton stated in an interview with Ziarul Financiar daily last October.
(Photo source: the company)
British-Indian investor Sanjeev Gupta, whose group will take over the biggest steel plant in Romania – ArcelorMittal...