Media Type: LIBERTY

LIBERTY Steel’s submission to the UK Steel Strategy consultation has proposed decisive Government action in the form of strategic demand side measures, cost competitiveness and co-investments to reverse the long-term decline in UK steel production and set the industry on a sustained upward trajectory.

A key LIBERTY proposal is for new measures to drive higher UK steel production by stimulating demand for UK-made steel. LIBERTY believes a template from the renewable power sector, the Renewables Obligation on electricity suppliers, could be adapted to the steel sector in the form of a Steel Obligation. A well-designed Steel Obligation would stimulate demand for UK scrap from UK mills and enable more resilient, lower carbon value chains in UK steel and associated strategic sectors like aerospace, civil infrastructure and defence. The Renewables Obligation enabled a major rise in UK-made renewable electricity and renewable electricity investment and jobs.

LIBERTY has also identified several strategic capability investments that could be made it its mills if conditions allow. The concepts would enhance LIBERTY’s existing capabilities to meet the demands of the industries of the future and generate value to the UK economy. Future concepts include a new EAF and slab caster at LIBERTY’s Rotherham mill which could increase the site’s production capacity from 1.2Mtpa to 2Mtpa and provide the UK with the capability needed for the next generation of offshore wind towers.

An investment in LIBERTY’s Dalzell plate mill could enhance plate capability to service almost all fixed bottom offshore wind requirements, enabling the UK to internalise more of the offshore wind value chain and make complementary UK investment in wind tower manufacturing far more compelling.

Jeffrey Kabel, LIBERTY Steel’s Chief Transformation Officer said:

“GFG welcomes the Government’s recognition that a thriving, competitive UK steel industry is key to a successful, modern, low carbon economy. The UK steel sector, and LIBERTY in particular, has tremendous strengths and could play a larger role in growing the industries of the future like wind power, aerospace and defence and civil infrastructure.

Today’s global economic and political context means UK policy needs to shift to creating sustainable demand for UK-made steel.  As competing jurisdictions support their own steel producers and leave the UK vulnerable to global steel imbalances, the UK needs a new approach to its critical industries and capabilities.

Demand side policy measures and well targeted co-investments in UK steel capabilities could keep more value in the UK, meaning more prosperity and fairer outcomes for the UK billpayers and taxpayers.”

Note to the editors:

LIBERTY Steel Group, part of the GFG Alliance and a leading GREENSTEEL producer, is a global integrated steel business bringing together assets across the steel supply chain, from production of liquid steel from raw and recycled materials through to high value precision engineered steels.

• LIBERTY’s 1.2mtpa steel mill in Rotherham, Yorkshire and its downstream mill at Stocksbridge showcase the future of low carbon steelmaking. Rotherham’s Electric Arc Furnaces (EAFs) turn the UK’s ample reserves of steel scrap into semi-finished goods before further processing at Stocksbridge into speciality steels for hi-tech sectors like aerospace and defence. Rotherham’s EAFs produce steel for less than a sixth of the CO2 emissions of a Blast Furnace/Basic Oxygen Furnace (BF/BOF) and this advantage will only grow with the further decarbonisation of the UK power grid.
• LIBERTY’s 0.3mtpa Dalzell steel plate mill in Motherwell, Scotland, is the largest and most capable in the UK, supplying inputs for the manufacture of essential products like warships, wind turbine towers and bridges.
• LIBERTY’s Hartlepool steel pipe mill is a major contractor to BP and Equinor’s pioneering Net Zero Teesside power generation and carbon capture and storage joint venture in Northeast England. Hartlepool is also one of the few mills globally to have an approved product for hydrogen pipelines.

Further information from:

Andrew Mitchell Head of Communications – UK	+44 7516 029522	Andrew.Mitchell@gfgalliance.com
Tetiana Levchenko Communications Manager – LIBERTY Steel UK	+44 7771 608404	tetiana.levchenko@libertysteelgroup.com

www.libertysteelgroup.com

www.gfgalliance.com

Tees Valley Mayor Ben Houchen has highlighted the rich potential for LIBERTY Steel’s Hartlepool operations to lead the UK energy transition by supplying critical new UK and international pipeline energy infrastructure.

Mayor Houchen’s visit to the plant underlined how LIBERTY Pipes Hartlepool’s specialist pipeline expertise enables them to win orders and support local and UK economic growth, create jobs, attract investment and strengthen energy security. The plant was last month selected to supply carbon capture linepipe to the Northern Endurance Partnership and Net Zero Teesside Power project in the East Coast Cluster.

With ambitions to lead the way in the UK’s energy transition, the Tees Valley has seen significant investment in recent years in offshore wind, sustainable aviation fuel, hydrogen production and carbon capture, generating new opportunities for businesses in the region like LIBERTY.

LIBERTY Hartlepool supplies high-quality carbon steel linepipe materials across the energy industry spectrum. Last year the plant successfully completed a test programme to become one of just a handful of firms globally who can supply linepipe suitable for safe transportation and storage of hydrogen. The business is also supplying two major contracts from Subsea7 for gas development projects in the North Sea.

Tees Valley Mayor, Ben Houchen said:

“It’s clear to see that LIBERTY Pipes in Hartlepool will continue to thrive as they compete to supply new markets like carbon capture and hydrogen pipeline, building on the efforts we’re making to put our region at the centre of the clean energy industry.

“LIBERTY’s selection as a supplier for bp and Equinor’s Net Zero Teesside is great news for local jobs. The vast range of projects the LIBERTY team can supply as well as their location in the Teesside Freeport means they’re perfectly placed to win even more work that can create skilled new jobs here in Hartlepool.”

Jeffrey Kabel, LIBERTY Steel’s Chief Transformation Officer said: 

“We were delighted to welcome Mayor Houchen to LIBERTY’s Hartlepool Pipes plant, where our manufacturing expertise can help lead the energy transition, and drive significant benefits for the local, regional and national UK economy. Our ability to supply pipeline material across the energy system – both existing and new technologies – means we can be a major player in the fast-growing market for new energy infrastructure.”

Further information from:

Andrew MitchellHead of Communications – UK	+44 7516 029522	Andrew.Mitchell@gfgalliance.com
Tetiana LevchenkoCommunications Manager – LIBERTY Steel UK	+44 7771 608404	tetiana.levchenko@libertysteelgroup.com

Note to the editors:

LIBERTY Steel Group, part of the GFG Alliance and a leading GREENSTEEL producer, is a global integrated steel business bringing together assets across the steel supply chain, from production of liquid steel from raw and recycled materials through to high value precision engineered steels. With a total rolling capacity of 20 million tonnes, 200+ manufacturing locations globally across 10 countries and employing more than 30,000 people, LIBERTY Steel’s furnaces, mills, services centres and distribution sites across the UK, continental Europe, Australia, the United States and China serve demanding sectors such as construction, energy, aerospace, automotive, and infrastructure. LIBERTY Steel is a leader in sustainable industry with a mission to become Carbon Neutral by 2030 (CN30). 

www.libertysteelgroup.com

www.gfgalliance.com

UAE, 11 December, 2023: Global steel producer LIBERTY Steel has signed a Memorandum of Understanding (MoU) with AD Ports Group (ADX: ADPORTS), the leading facilitator of global trade, logistics, and industry, to develop solutions for importing high-quality magnetite ore to the UAE, from Australia.

The agreement has the potential to play a significant role in decarbonising international iron and steel production by combining LIBERTY’s access to 4 billion tons of South Australia’s premium grade magnetite ore – an ideal feedstock for green iron and steel production – with the UAE’s huge renewable energy potential and the advanced infrastructure and connectivity offered by AD Ports Group. Khalifa Port has been ranked as the 3rd most efficient container port globally, in the recently published Container Port Performance Index (CPPI) developed by the World Bank and S&P Global Market Intelligence.

Under the MoU, the two companies will explore plans to host a green iron production facility in the Khalifa Economic Zones Abu Dhabi (KEZAD) and related port infrastructure and conveyor system in Khalifa Port, contributing to the UAE’s ambitions to grow its manufacturing base by 2031.  

The MoU is part of LIBERTY’s early stage concept development to convert its magnetite ore into high quality green iron in the UAE using gas and transitioning to green hydrogen once it becomes available at scale by 2031 and 2050.  Under LIBERTY’s plans, the high value green iron would be exported to markets, including to its own facilities across Europe in Romania, Czech Republic, Hungary, Poland and the UK.  Demand for green iron and steel is forecast to reach over U$400bn by 2030, presenting a significant market opportunity for the UAE, and delivering real action to decarbonise supply chains.

Saif Al Mazrouei, Chief Executive Officer -Ports Cluster, AD Ports Group, commented: “Our MoU demonstrates AD Ports Group’s commitment to global collaboration that enables progress within alternative energy infrastructure and supply chain. AD Ports Groups’ collaboration with LIBERTY Steel aligns with the objectives of UAE’s visionary leadership for both economic diversification and a greener future. Under the UAE’s Net Zero 2050 Strategy and Operation 300bn industrial strategy This agreement has the potential for major strides in the decarbonisation of the iron and steel production industry and accelerates the transition to Net Zero for the next generation.”

Sanjeev Gupta, Executive Chairman of GFG Alliance, commented, “We are delighted to partner with AD Ports Group in pursuit of our common goal to decarbonise the global iron and steel supply chain. LIBERTY’s major Australian reserves of magnetite can drive international development of green iron and steel hubs, enabling large-scale adoption of green hydrogen in global steel production. LIBERTY is committed to becoming carbon neutral by 2030 and the UAE’s huge renewable energy and hydrogen potential, combined with AP Ports infrastructure advantages can make it an ideal partner in our vision for green iron production here in the UAE.  There is no solution to reach net zero without addressing the largest industrial emitter of CO₂.”

In 2017, the UAE Energy Strategy 2050 was unveiled; an ambitious plan to address the country’s rapidly growing energy demands, spurred by a burgeoning economy. This strategy focuses on tripling the contribution of renewable energy and earmarks an investment of AED 150 to 200 billion by 2030. Acknowledging the critical impacts of climate change, the UAE is committed to diversifying its energy sources; this involves an integrated approach that combines renewable, nuclear, and clean energy sources, including solar and green hydrogen. In a significant update this year, the UAE revised its renewables capacity target, increasing it to 14.2 GW by 2030, up from the current 3.7 GW. The largescale decarbonisation project outlined within this MoU is setting a clear path to meeting this ambitious goal.

• ENDS –

Note to the editors:

About LIBERTY Steel:

GFG Alliance is a collection of global businesses and investments owned by Sanjeev Gupta and his family. The Alliance is structured into three core industrial pillars; 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 35,000 people, across 10 countries and has revenues of USD $20bn. GFG Alliance is a leader in sustainable industry with a mission to become Carbon Neutral by 2030 (CN30).  

www.libertysteelgroup.com

www.gfgalliance.com  

About AD Ports Group:

Established in 2006, AD Ports Group today serves as one of the world’s premier facilitators of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.

Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime & Shipping, Logistics, and Digital, AD Ports Group’s portfolio comprises 30+ ports and terminals, and more than 550 square kilometres of economic zones within KEZAD Group, the largest integrated trade, logistics, and industrial business grouping in the Middle East. 

AD Ports Group is rated A+ by S&P and A+ Outlook Stable by Fitch. 

For more information, please visit: adportsgroup.com  

Follow AD Ports Group on:

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LIBERTY Steel Group (“LIBERTY”)’s Restructuring and Transformation Committee (RTC) today announces that LIBERTY has signed a term sheet subject to contract on an agreement in principle (“the Agreement”) for a debt restructuring with parties responsible for the main creditors of Greensill Capital (UK) Limited, Greensill Bank AG and Credit Suisse Asset Management (Switzerland) Limited (“the Creditors”), a major step in the Group’s refinancing.

LIBERTY and Greensill Bank as main creditors are in the process of negotiating a similar term sheet for the debt restructuring of LIBERTY’s European steel businesses.

The Agreement remains subject to documentation and the respective internal approvals. All parties will now work to prepare and execute the Agreement, providing LIBERTY with the platform to develop longer term sustainable financing. Under the agreement, the parties have adjourned the winding up petitions against LIBERTY entities.

The Agreement will allow LIBERTY to further advance its GREENSTEEL strategy and industry leading ambition to become carbon neutral by 2030.

Jeffrey Kabel, Chief Transformation Officer, LIBERTY Steel Group said:  

“After several months of negotiations, we have now reached an agreement in principle that will provide recovery for the Creditors and will significantly deleverage and derisk LIBERTY.  This is a major step forward in our restructuring and transformation and we will now work at pace with the Creditors to prepare and execute the Agreement.”

Notes

– Incorporates all major Greensill creditors; Credit Suisse Asset Management, Greensill Bank and Greensill Capital (UK) Limited.  

– Repayment will be made through a combination of lump sum, scheduled and bullet repayments.

David Ollier Global Head of Communications	+44 7596 297773	David.Ollier@gfgalliance.com
Andrew Mitchell Head of Communications – UK	+44 7516 029522	Andrew.Mitchell@gfgalliance.com
Patrick Toyne-Sewell Head of Communications – Europe	+44 7767 498195	Patrick.toyne-sewell@gfgalliance.com

• LIBERTY Steel USA secures US$125mn refinancing through Eclipse Business Capital
• New leadership structure to enhance governance and simplify operating model
• Strong commodity markets help to offset impact of high energy costs

LIBERTY Steel Group’s Restructuring and Transformation Committee (RTC) today reports on the continuing developments across the Group and the sustained progress achieved to date.

Jeffrey Stein, Chief Restructuring Officer, said: “The refinancing of our LIBERTY Steel USA business is further confirmation of rising confidence in our restructuring plan, our GREENSTEEL transformation strategy and the quality of our U.S. operations. The strength of our international asset base is supporting our efforts to stabilise, refocus and refinance our operations, which are gaining momentum. 

At the same time, we are making significant progress in evolving our corporate governance structures, in line with our commitment to increase transparency and accountability. Our new structure will support more effective decision-making and robust systems and processes and position the group to thrive and generate quality jobs in the years to come.

We’re also taking the necessary steps to close or divest non-core businesses. Businesses that are not viable due to changed market conditions have either been sold or closed. However, for high potential but non-core businesses such as our super alloys speciality steel division in the UK, we are restructuring them to make them leaner and more competitive, and also looking for new owners or partners for such businesses who will be specialized and focused shareholders creating sustainable value and preserving high quality jobs.” 

Actions taken

US

• LIBERTY Steel USA has successfully refinanced its US$125m Asset Based Loan (ABL) with Eclipse Business Capital, another significant step forward in GFG Alliance’s programme to refinance its international operations. The refinancing highlights the competitive advantage of LIBERTY Steel USA’s integrated steel model and strong position it holds in its core automotive, construction, agriculture and consumer markets.

LIBERTY’s model enables its upstream plant in Peoria, Illinois to run at higher capacity utilisation, and provide lower cost, efficient supply for its downstream operations. The success of this framework, and the market agility it creates, has laid the platform for LIBERTY to reinvest in its facilities so it can develop and leverage its best in class market brands such as Red Brand fencing. 

Group

• LIBERTY Steel Group has implemented a new organisational model to improve governance, accountability and decision making which includes delegated authority from the shareholder to regional presidents. 

• GFG has appointed global steel industry executive Sandip Biswas as its Group Chief Investment Officer responsible for commercial performance, investment strategy and delivering the group’s carbon neutrality goals. 

UK 

• LIBERTY Steel UK on April 8 launched a consultation with its employees and unions to restructure its super alloys speciality Steel division to enhance their productivity and competitiveness ahead of a possible sale or JV. This is anticipated to result in a net reduction of approximately 50 roles after factoring in new and vacant roles at its nearby GREENSTEEL operation in Rotherham fuelled by new investment and volume growth.

Europe

• The Group has set up a dedicated central team who are closely monitoring the situation in Ukraine to ensure our contingency plans remain effective. That team, working closely with local management, continues to focus on ensuring the resilience of our supply chain as well as working closely with our customers. 

• The Commercial Court in Belgium on April 13 ruled that administrators should be appointed to LIBERTY Liege due to negative equity. GFG is disappointed by the ruling, as under international IFRS standards Liege does not have negative equity, and it is only by marking all fixed assets of the company to near zero under Belgian GAP that this technical provision of negative equity has been derived.  Nonetheless GFG will implement immediate remedies in consultation with the administrators, including recapitalization of the balance sheet, and appeal to the Belgium courts to restore the business to normalcy. GFG continues to believe strongly in its transformation plans for Liege, which will provide the business with a long term, sustainable future preserving 650 quality jobs.

Leadership structure and Governance 

Since the collapse of Greensill in March last year, GFG has been focused on two key strategies: to stabilise, refocus and refinance its operations; and to accelerate the evolution of its corporate structures and governance. The first strategy was kick-started with the creation of the RTC in May 2021 which has led to significant progress since then.

Today GFG can announce a significant step in the evolution of the structure and operating model of the group and LIBERTY Steel Group (LIBERTY). There will be a significant restructuring of LIBERTY’s management operation, which will allow GFG to move forward and mature as an organisation. This follows on from the appointment of Iain Hunter as Chief Governance Officer in May 2021 and the subsequent development of a new organisational structure for LSUK. 

• LIBERTY today also announces a new management structure, which will see it simplify and formalise the organisation of its senior management team. The new structure will clarify roles and responsibilities, create simpler reporting lines, better enable value creation and protection, and provide more robust systems and processes.

• To enhance operational governance, LIBERTY has appointed regional Presidents who will have Delegation of Authority (DOA) to represent LIBERTY’s shareholder in their given countries or regions and to serve on local boards. The new Presidents are listed below, with further appointments to be made in due course:
  • Ajay Aggarwal (currently GFG’s Executive Director for Central, Eastern & Southern Europe) – President, Europe 
  • Jeffrey Kabel (currently Chief Transformation Officer) – President, UK
  • Dak Patel – President, Australia & US (current)
  • Paul Francis – President, Middle East
  • Mehmet Coruh – President, Turkey

• The Presidents will work alongside Group CEOs who will lead operations and performance across their regions and divisions. Group Functions (HR, Finance, IT etc.) will be centralised in Dubai Head Office and operate under a matrix reporting structure to ensure efficiency of resource and improve accountability. 

• Strategic decision making will be reviewed and approved by a range of governance bodies which sit under the LIBERTY Steel Group Board. They include the Restructuring & Transformation Committee, the Presidents’ Forum, Audit & Risk Committee, and the Environmental, Social and Governance (ESG) Committee. Only Presidents, Group CEOs and select Functions will report to Sanjeev Gupta, Executive Chairman, reducing his direct reports and allowing him to focus on the Group’s strategic objectives.  

Regional updates

Australia 

• LIBERTY Bell Bay in Tasmania, one of the word’s greenest ferro alloy producers, was formally inaugurated this month. Following significant investment to repair and restart the smelter’s fourth arc furnace, the site is now performing very well with sales of its alloys improved by 18%. The continued operation of the site has secured the future of 250 high quality Tasmanian jobs. 

• In a keynote address to the American Chamber of Commerce in Adelaide on 7th April, Sanjeev Gupta unveiled the first phase of the Whyalla plant’s magnetite expansion project, which will increase magnetite concentrate production to 2.5Mtpa, providing a key building block for Liberty’s GREENSTEEL transformation plans. The speech underlined the strategic importance of Australia in leading the global hydrogen revolution and the renewed importance of domestic manufacturing capability and sustainable supply chains. 

Europe 

• LIBERTY Galati, the largest integrated steel producer in Romania, has reported its strongest annual production levels since 2010, with its Blast Furnace No. 5 achieving 2.1 million tonnes of hot metal, the highest production level since its installation in 1978. The business reported a total production volume of 2.35 million tonnes in 2021, due to a range of operational and management efficiency improvements, and continues to increase its production level while transforming LIBERTY Galati into a low carbon GREENSTEEL producer.

•  LIBERTY Częstochowa has made further progress in its ambition of becoming Poland’s only producer of carbon neutral GREENSTEEL plate with the installation of a 450 kilowatt solar farm on its site. The planning for a second solar farm, which once completed later in the year will provide the plant with around 3 MW of renewable energy capacity, is already underway.

Outlook

In response to the progress achieved by the RTC, Sanjeev Gupta, Executive Chairman of GFG Alliance, commented: 

“As GFG moves forward with its refinancing and transformation, including today’s announcement of a significant refinancing in the United States, the Group is putting in place the right leadership and governance structures to ensure its long-term strength and health. Our new evolved corporate structure will ensure sound and effective decision-making. It will also enable me to focus more on the strategic objectives of the group, particularly our financial restructuring and transformative CN30 ambition, while my senior management teams drive our operations forward to continued success.”

Further information from:

Andrew Mitchell Head of Communications – UK GFG Alliance	+44 7516 029522	andrew.mitchell@gfgalliance.com
Patrick Toyne-Sewell Head of Communications – Europe	+44 7767 498195	patrick.toyne-sewell@gfgalliance.com

• Significant progress with creditors including withdrawal of petitions by U.K. HMRC
• Further funding injected into LIBERTY Steel UK to secure continued operations
• Continued progress to restructure the Group to focus on its core businesses
• Strong international steel and aluminium markets have supported robust performance

LIBERTY Steel Group’s Restructuring and Transformation Committee (RTC) today reports on the continuing developments across the Group and the sustained progress achieved to date.

Jeffrey Kabel, Chief Transformation Officer, said: “We’re pleased to report good further progress in our negotiations with creditors including U.K’s HMRC. We are committed to repaying all creditors and this is an important step in enabling us to restructure and achieve long-term refinancing.

Our core international businesses have continued to generate strong returns and achieve record production levels despite the sky-high energy costs facing energy-intensive industries across the U.K and Europe. We will continue to progress our efforts to refocus and refinance our operations for the long-term.”

Actions taken

UK

• Following positive discussions with HMRC winding up petitions have been withdrawn. In parallel, constructive discussions continue with existing creditors to repay liabilities and with new lenders over longer term refinancing of the business.

• Following the £50m injection of shareholder funding to restart operations at LIBERTY Steel UK (LSUK) in October, a further significant injection of shareholder capital has enabled renewed steel making across LSUK’s High Value Manufacturing, Narrow Strip, Engineering Bar and Merchant Bar operations. The campaigns, which will extend into March and April, will enable LSUK to serve customers and maintain market position.

• Following the announcement in May 2021 that GFG Alliance would be divesting LIBERTY Pressing Solutions Coventry (LPSC) the Group has actively been seeking potential buyers for the business. LPSC has continued to fulfil customer orders through this period, during which operations were funded through shareholder capital. The structural long-term downturn in the UK automotive market has meant that it has not been possible to find a buyer for LPSC, and as a result a formal consultation opened on March 7.

Australia

• The South Australian government has announced funding guidelines to co-finance operational efficiency projects at LIBERTY Primary Metals Australia’s (LPMA) integrated steelworks at Whyalla. It is the first step in releasing a AUS$ 50 million grant that will fund approved projects to improve Whyalla’s productivity and efficiency, to be matched on a “dollar for dollar” basis by LPMA. LPMA is working to advance strategic upgrade project proposals that qualify for government funding. The proposed grant is in addition to significant investment LPMA has already made in plant and equipment at Whyalla where an operational efficiency drive, continuous improvement initiatives and favourable market conditions have improved performance.

Regional updates

Australia

• Since the October 2021 announcement of a debt restructuring for LPMA, the integrated operations have continued to demonstrate strong performance, despite a surge in energy prices. This included a threefold increase of coal washed production and an 82% increase in sales at Tahmoor; a 12% increase in iron ore sales to 2079kt; a 17% increase in steel production at Whyalla and an 18% rise in alloy sales at LIBERTY Bell Bay. This week the Australian Government awarded a $A292million rail contract to the Whyalla Steelworks to supply 147,000 tonnes of rail to complete the Inland Rail project. InfraBuild has recorded continued improvement across all financial metrics in its H1 FY22 results and its best half year safety performance on record. Compared to H1 FY21, InfraBuild’s net revenue is up 41% to $A2.94B, with EBITDA up 109% to $A314M. InfraBuild posted a record Total Recordable Injury Frequency Rate (TRIFR) and Days Away, Restricted, or Transferred (DART) improvements for the period between July and December. In the last quarter, TRIFR was 32% better and DART 51% better than the corresponding period.

Europe

• LIBERTY Ostrava in the Czech Republic has started an extensive two year programme of modifications to its Steckel hot strip mill, costing around EUR 40 million. This will reinforce reliability and product quality, while increasing capacity utilisation to more than 1 million tonnes of flat products a year. Ostrava’s tube plant also expects to hire more than one hundred new skilled workers this year to support its drive to increase the production of seamless pipes aimed at the US oil drilling and transport markets.

• LIBERTY Galati in Romania has invested EUR 5.5 million in strengthening its Hot Rolled Coils production line to increase productivity of the mill and improve its environmental performance.

• LIBERTY Częstochowa, Poland’s only producer of low-carbon GREENSTEEL plate, has started the renovation of its two cutting lines, crucial for the successful realisation of its new “55-65-85” production strategy which initially aims to achieve the shipment of 55,000 tons of steel plate per month.

• LIBERTY Magona, Italy’s leader in galvanized and pre-painted flat rolled coils production, is planning to achieve a capacity increase of more than 20% this year. The expansion is expected to come from the addition of new capacity for painting production and a new range of galvanized and pre-painted products, supported by enhanced customer service and broader international sales network. LIBERTY Skopje in North Macedonia is also planning to increase its production to around 20,000 tonnes a month, up by 65% through operational and planning efficiencies.

United Kingdom

• Steelmaking at Rotherham and Stocksbridge has continued over the first quarter of the year following the injection of shareholder funding that enabled the restart of operations in October. A steelmaking campaign in February met planned production targets, and another has been underway during early March. Planning is advancing well for further campaigns.

• The Aluminium Stewardship Initiative has awarded ALVANCE British Aluminium’s Lochaber smelter an ASI Performance Standard certification, considered to be the gold standard for sustainable production in the industry.

United States

• LIBERTY Steel USA has successfully restarted production at its rod mill in Georgetown, South Carolina, which was closed during the Covid-19 Pandemic. 65 employees have now been able to return back to work. LIBERTY Steel USA has also implemented efficiencies such as utility cost savings, rental equipment return and contractor reductions to improve its profitability and develop a sustainable long-term plan for the plant.

• LIBERTY Steel & Wire has restarted production at its wire rod mill in Peoria, Illinois, following installation and testing of a new transformer for its electric arc furnace. The Peoria mill is the largest single location rod mill in the US.

Outlook

In response to the progress achieved by the RTC, Sanjeev Gupta, Executive Chairman of GFG Alliance, commented:

“With refinancing initiatives well underway and our businesses performing well, this will be a formative year for our organisation as we work through our transformation plan. As our restructuring and refinancing programmes continue to progress positively we are also making operational improvements to further enhance the performance of our core businesses against a backdrop of robust demand for our products.”

Further information from:

Andrew Mitchell Head of Communications – UK GFG Alliance	+44 7516 029522	andrew.mitchell@gfgalliance.com
Patrick Toyne-Sewell Head of Communications – Europe	+44 7767 498195	patrick.toyne-sewell@gfgalliance.com

GFG Alliance today announces the appointment of Toker Ozcan as CEO, GREENSTEEL EMEA for LIBERTY Steel Group, as LIBERTY further strengthens its international management team to lead the global transition to zero carbon steel.

Mr Ozcan, who brings thirty years of experience in metals and mining, will oversee GFG’s GREENSTEEL operations in the UK, Poland, India, and lead the Group’s downstream operations in Europe.

Toker Ozcan is a steel industry veteran with thirty years of experience in metals and mining having served as CEO and Chairman of the Board at Turkish steel giant Oyak Mining & Metallurgy (including Erdemir and Isdemir) from 2018-2021, as well as various other Chairmanships and senior positions throughout his career.

The appointment further enhances the operating structure for LIBERTY Steel Group – integrated as a single corporate entity with independent board directors since 2020 – to ensure accountability across its steel operations while maintaining agile decision-making.

Paramjit Kahlon, continues in his role as CEO Primary Steel & Mining, incorporating LIBERTY Steel Group’s operations in Galati, Ostrava, Whyalla & Tahmoor.

LIBERTY Steel Group continues to perform well and its global restructuring efforts have enabled the refinancing of GFG’s Australian primary steel operations and laid the foundations to achieve secure financing across the Group.

Sanjeev Gupta, Executive Chairman, LIBERTY Steel Group, said: “Toker is an exceptionally talented and experienced leader, I’m delighted to welcome him to LIBERTY Steel Group as we drive forward with our global refinancing and GREENSTEEL ambitions.”

Toker Ozcan, CEO, GREENSTEEL EMEA for LIBERTY Steel Group said: “I believe deeply in Sanjeev’s vision for GREENSTEEL and I’m very happy to be joining LIBERTY Steel Group to apply my experience in pushing forward our plans to create a sustainable future for our businesses economically, socially and environmentally.”

Further information from:

Note to the editors:

GFG Alliance is a collection of global businesses and investments owned by Sanjeev Gupta and his family. The Alliance is structured into three core industrial pillars; 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 35,000 people, across 10 countries and has revenues of USD $20bn. GFG Alliance is a leader in sustainable industry with a mission to become Carbon Neutral by 2030 (CN30).

LIBERTY Galați has for the first time exported 50,000 tonnes of blast furnace slag, a by-product of the steel making process carried out at the plant, so that it can be converted into very low carbon cement at a specialist factory in France.

A ship loaded with granulated blast furnace slag, which is produced in LIBERTY Galati’s own facilities through the processing of hot liquid slag, has been sent to a prestigious cement manufacturer in France. That company operates an innovative technology which uses slag, clay and plaster in a kiln and clinker-free production process. The new process is environmentally protective as it does not involve the extraction of limestone, does not release gases into the atmosphere and – eventually – reduces the carbon footprint of the cement by 80%.

The classic cement-making process uses a rotary kiln where the raw materials are heated up to 1,450 degrees Celsius, which also generates the clinker by-product, largely responsible for the carbon footprint of the cement.

LIBERTY Galați produces about half a million tonnes of blast furnace slag yearly. 

Visit the LIBERTY Steel Group website to read the full media release.

LIBERTY Steel Group has appointed Aida Nechifor as the General Director of its LIBERTY Galaţi plant in Romania. Aida, who has worked at the plant for more than 20 years, is the first woman to lead the plant in its 55 year history as well as being the first woman to lead any major Romanian steel plant.

She will also have management responsibility for LIBERTY Skopje, a downstream site in North Macedonia.

Aida, who was previously the plant’s Chief Financial Officer and a member of the Management Committee since December 2018, joined the Galaţi steelworks in 2001. She initially joined as an economist before leading teams across sales, accounting, financial reporting, planning and analysis functions. She is a graduate of the Economic and Business Administration Faculty of “Alexandru Ioan Cuza” University in Iasi.

Visit the LIBERTY Steel Group website to read the full media release.

LIBERTY Steel Group, part of Sanjeev Gupta’s sustainable industry leader GFG Alliance, today announces that it has strengthened its Board with the appointment of Denise Timns as an executive director and Monica Middleton as a non-executive director.  This continues LIBERTY’s efforts to broaden the expertise of its senior management team as it continues its strong growth worldwide.

Read the press release on LIBERTY Steel Group website