- A single global company – Liberty Steel Group – to be created, consolidating GFG Alliance’s steel businesses into one legal entity
- GREENSTEEL strategies to be at the heart of the combined group, including exploration of new environmentally friendly technology such as hydrogen based steel making
- Liberty Steel Group aims to be the world’s first carbon neutral steel company by 2030
A single global company with 18 million tonnes of rolled steel capacity annually is to be launched through a consolidation of GFG Alliance’s steel businesses, with an ambition to lead the industry towards a carbon-neutral future.
The family-owned alliance led by Sanjeev Gupta today announces that Liberty Steel Group, which altogether employs 30,000 people in 10 countries, will be incorporated by the end of this year through a merger of GFG’s upstream and downstream steel manufacturing, mining and distribution businesses around the world.
Liberty Steel Group will be the eighth largest steel producer outside China, with operations stretching from Australia to continental Europe, the United Kingdom and the United States, and it will have annual sales of approximately $15 billion. Although individual businesses will retain a high degree of autonomy, consolidated accounts will be produced and a united strategy will be developed.
At the heart of the group’s mission will be an ambition to build on GFG’s existing GREENSTEEL strategy to aim for net carbon neutral status by 2030 – placing Liberty Steel Group on a pathway to become the first carbon neutral steel company in the world. This will include exploration of the best use of new technologies such as hydrogen generated from renewable power to produce steel.
Read the full media release on the Liberty House Group website
