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Liberty Steel plants to merge into one group

Posted on 14 Nov 2019 and read 964 times
Liberty Steel plants to merge into one groupA single global company with 18 million tonnes of rolled-steel capacity per annum is to be launched through a consolidation of GFG Alliance’s steel businesses.

The family-owned alliance has announced that Liberty Steel Group, which employs 30,000 people in 10 countries, will be incorporated by the end of this year through a merger of GFG’s upstream and downstream steel manufacturing, mining and distribution businesses around the world (www.libertyhousegroup.com).

Liberty Steel Group will be the eighth-largest steel producer outside China, with operations stretching from Australia to continental Europe, the UK and the USA.

Although the individual businesses will retain a high degree of autonomy, consolidated accounts will be produced, and a united strategy will be developed.

At the heart of the group’s mission will be an ambition to build on GFG’s existing Greensteel strategy and aim for net carbon-neutral status by 2030.

This will involve exploring the best use of new technologies — such as hydrogen generated from renewable power — to produce steel.

Speaking at the recent World Steel Dynamics’ European Conference in Italy, GFG Alliance chairman Sanjeev Gupta said: “We are creating a new force in steel with the size, scale and agility to forge a path towards a sustainable future for our steel businesses and the communities in which we operate.

"Our integrated group will stretch around the world, with a financial and governance structure suitable for an intercontinental business of our size.”