ArcelorMittal to sell four European plants

ArcelorMittal to sell four European plants
15/10/2018 , by , in ALLIED

Sanjeev Gupta led Liberty House will be buying ArcelorMittal’s steel plants in Europe that the world’s largest steelmaker has put on the block to clear its way to buy Italian steel company Ilva, Liberty House.

The steelmaker has made a binding offer to buy ArcelorMittal’s major integrated works at Galati in Romania and Ostrava in Czech Republic, along with rolling mills at Skopje in Macedonia and Piombino in Italy; a move that will more than double its global production capacity.

The four facilities will together add 8 MT rolling capacity to Liberty House and take it to 15 MT a year apart from adding 12,500 people to its total workforce. The plants serve domestic and wider European markets, including automotive, construction, industrial machinery and oil and gas sectors.

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