Following EU approval for Liberty to acquire seven major European steel plants from ArcelorMittal, the GFG Alliance plans to integrate most of its Liberty steel, engineering and mining businesses into a single global entity, spanning assets across the UK, Europe and Australia, and including those in our region.
The consolidated business will include all of the UK steel and engineering assets, the integrated Australian Liberty primary steelworks in Whyalla, a number of high-quality Australian iron ore and metallurgical coal mines, and, once completed, the seven European steel plants being acquired from ArcelorMittal.
Currently these businesses exist separately within the GFG Alliance but, with a steelmaking target of 20 Mtpa, the planned merger and integration will catapult Liberty into the world’s top 10 steel producers outside China, creating multiple competitive advantages.
Today’s announcements mark a significant step in Liberty’s evolution. Executive Chairman of the GFG Alliance, Sanjeev Gupta, said: “We are delighted that the EU has validated Liberty as a suitable buyer for these European steel assets. This will make us the third largest steel producer in Europe. We are an ambitious and aspirational group and we keep breaking boundaries. The bringing together of our international integrated steel assets is part of our deliberate, strategic and sustainable expansion.
“We look forward to leveraging Liberty steel and mining’s integrated supply chain to create further value. The business will combine Liberty’s integrated steelworks in Whyalla and its ambitious Australian iron ore and coking coal mining businesses, with Liberty House Group assets in the UK and the planned acquisition of the ArcelorMittal European manufacturing facilities.”
Liberty’s global manufacturing capacity includes a strong position in the UK as a steel producer and an engineering components supplier to the automotive, aviation, defence and renewable energy sectors.