Liberty Steel, a subsidiary of the GFG Alliance, acquired seven steel mills and five major service centers from ArcelorMittal for € 740 million in continental Europe in early July, and these facilities were officially commissioned this week.
Sanjeev Gupta, Liberty's executive chairman, said he will invest 400 million euros over the next five years, making these newly acquired plants a major force in the global steel industry. Liberty's goal was to increase sales of these mills by 50% by 2022. The company also planned to introduce Greensteel GFG Alliance technology at these plants, including exploring renewable energy and waste reduction opportunities.
These facilities were now called Liberty Steel Continental Europe and were managed by John Bolton, who was also chairman of the British Steel Trading Association. The new pan-European organization has built a wide industrial supply chain that supplies materials and components for industries in Western Europe.
