LIBERTY Steel Group, part of Sanjeev Gupta’s sustainable industry leader GFG Alliance, announces that it has taken over the lease for Huta Czestochowa, one of Poland’s largest steel mills. The restart of production has already taken place with the first plates having been rolled by the plant’s mill, using steel from LIBERTY Ostrava.

Corween Investments (to be renamed LIBERTY Czestochowa) has taken on the plant’s lease from the plant’s Administrator until mid 2021. LIBERTY is also taking an active role in the plant’s acquisition, based on the sales process determined by the Court.

LIBERTY believes the addition of the Huta Czestochowa, which has the capacity to produce up to 0.7 million tonnes per annum (mtpa) of GREENSTEEL from its electric arc furnace and 1.2 mtpa from its Heavy Plate Mill, will give it the opportunity to strengthen its position in the European GREENSTEEL sector. The plant will also benefit from synergies due to its geographic proximity to LIBERTY’s existing assets, particularly LIBERTY Ostrava in the Czech Republic, and the strength of LIBERTY’s sales, marketing and distribution teams across Europe.

Commenting on the news, Sanjeev Gupta, Executive Chairman of GFG Alliance and LIBERTY Steel Group, said: “We are very pleased to start our industrial journey in Poland – a country with a long and proud industrial heritage – and restart production at Huta Czestochowa. I would like to welcome the plant’s 1,200 highly skilled and committed employees into the LIBERTY Steel family and provide them with some certainty after the difficult situation over the last year. We have a strong industrial plan for Huta Czestochowa and believe we can develop the business and make it economically, socially and environmentally sustainable for the long term.”

Further details of LIBERTY’s development plans for the Huta Czestochowa will be announced in due course.

Further information from:

Paddy Toyne-Sewell
Head of Communications – Europe, GFG Alliance    +44 (0) 7767 498 195    Patrick.toyne-sewell@gfgalliance.com

Note to Editors:
LIBERTY Steel Group is part of GFG Alliance, a collection of global businesses and investments owned by Sanjeev Gupta and his family. GFG Alliance is structured into three core industry brands; LIBERTY Steel Group, ALVANCE Aluminium Group and SIMEC Energy Group, independent of each other yet united through shared values and a purpose to create a sustainable future for industry and society. GFG Alliance employs c.35,000 people, across 30 countries and has revenues of >USD $20bn.

For more information please visit www.gfgalliance.com.

 

Source: libertysteelgroup.com

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