The Liberty Steel Liege rolling mills in Belgium have been given the green light by a local court to look for a potential new owner. Liberty Steel Group confirms that the sale of assets is one of the possible options for their restructuring.
The plants have been included in a restructuring program that will last until the end of April 2023 to "temporarily protect the business from creditors while maintaining the best possible relationship with them and ensuring the continuity of the company's operations," Liberty said in a statement.
Liberty Steel's assets in Belgium include a number of steel packaging lines located in Tiller and two hot dip galvanizing lines located in Flemalle. The plants can produce up to 1 million tons/year of HDG and 200,000 tons/year of packaging products. They were acquired by Liberty from ArcelorMittal in 2019. Liberty Steel also controls HDG's facilities in neighboring Luxembourg.
The Luxembourg mills operated several rolling lines intermittently this year, and raw material for hot rolled coils came from Liberty Steel's Galati plant in Romania.
Liberty Steel emphasizes that since December 2021 it has invested more than 28 million euros in installations in Liege "to ensure that its employees continue to receive wages and factories remain operational."
Liberty Steel plants in Liege are looking for a new owner
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Azovpromstal® 6 December 2022 г. 11:10 |
