Liberty Steel acquires ArcelorMittal group of factories in Europe

ArcelorMittal has announced that it has completed the sale of several metallurgical assets to the Liberty House Group, representing an investment reduction package agreed with the European Commission during negotiations to acquire the Italian steel mill Ilva.

Assets sold: ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia), ArcelorMittal Piombino (Italy), ArcelorMittal Dudelange (Luxembourg) and several finishing lines at ArcelorMittal Liège (Belgium).

ArcelorMittal will receive a total of € 740 million, of which € 610 million has already been received. The company is required to make a deposit of € 110 million, which will be used by Liberty for some of the equity investments agreed upon as part of the necessary EU permitting process.

By purchasing 4 plants from ArcelorMittal, Liberty will double its production capacity.

Liberty says the acquisition of the assets means the group is among the top ten companies in the world (unless we list companies from China, of course). The companies taken over by the Liberty House Group employ more than 14 thousand people. people and their production capacity is more than 10 million tons of rolled products per year. The recipients are representatives of many sectors of the economy: from construction and infrastructure, to motorization, construction machinery and consumer goods, to aviation technology. In general, this will increase the production capacity to 18 million tons of finished products.

The group announces that it intends to double sales from new plants within three years.