ArcelorMittal receives binding offer for European assets from Liberty
British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people. 2018-10-12 14:26:57
In a landmark transaction that would take Liberty's total rolling capacity to over 15 million tonnes a year, the Group has made a binding offer to buy ArcelorMittal's major integrated works at Galati in Romania and Ostrava in the Czech Republic, along with rolling mills at Skopje in Macedonia and Piombino in Italy.
The deal is subject to approval by the European Commission and other local processes including the conclusion of information consultations with local and European Works Councils.
Adding these major steel hubs more than doubles Liberty's global metal manufacturing capacity, which already includes a strong position in the UK as a steel and aluminium supplier to the automotive, aviation and specialist engineering sectors and in Australia supplying steel for building and infrastructure. The Group also makes steel in the USA for the automotive and other sectors.
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