GFG Alliance (GFG) has today acquired Aartee Bright Bar (ABB) via the one hundred percent purchase of shares in Aartee Group Pte Limited.
The acquisition follows the appointment of administrators over ABB on February 6th following a creditor dispute. GFG has provided funding to cover wages for four weeks to prevent a reduction in jobs expected under the administration.
GFG has filed an application to challenge the administration, and will seek to restart operations in a bid to save 250 viable steel jobs in the West Midlands, Rugby, Bolton, Southampton and Newport.
The application to challenge administration is being supported by a majority of business creditors.
“ABB is a significant part of the UK’s steel supply chainand distribution network, and a key customer for GFG’s bar products produced in Rotherham by LIBERTY. Our rescue plan would save 250 viable steel jobs in the West Midlands and across the UK. Over time ABB’s business would be integrated into LIBERTY’s operations helping to reinforce our UK transformation plan focused on producing specialist steel products.”
GFG looks forward to communicating directly with ABB employees when conditions allow.
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).
GFG Alliance’s mining arm, SIMEC Mining has produced its first high quality GREENSTEEL pellets that will underpin the future of decarbonised steel production in Whyalla, South Australia.
The pellets were produced from the company’s Duchess South drill core in the Southern Middleback Ranges using innovative technologies proposed for SIMEC’s magnetite expansion operations. As part of routine production, a small parcel of concentrate was successfully converted to pellets in the existing pellet plant.
The successful production of the Direct Reduction grade pellets is another significant step forward in GFG Alliance’s GREENSTEEL transformation at Whyalla, and is coupled with the successful commissioning of a 400tph demonstration pilot plant to test an innovative technology integral to current and future mining operations.
Both milestones build on GFG’s announcement earlier this year of its magnetite expansion project and construction of a debottlenecking process to increase magnetite concentration production.
The process, known as a Dry Low Intensity Magnetic Separation (DLIMS) plant, is designed to reject non-magnetics from a coarse crushed fraction of the feed material, thereby upgrading the quality of feed to the magnetite concentrator.
Performance of the plant has exceeded expectations by rejecting over 20 percent of the feed mass as waste, while still recovering more than 98 percent of magnetics to product.
SIMEC’s magnetite expansion plan continues with a feasibility study underway for Stage 2, which is evaluating a new 5Mtpa magnetite concentrate supply chain to supplement the existing Stage 1, 2.5Mtpa facility.
The current optimised mine shell contains 443 million tonnes of magnetite ore from the JORC compliant Duchess South reported resource of 614 million tonne. The proposed flowsheet for processing this ore generates a product containing 68 – 70 percent Fe magnetite concentrate with less than 2 percent silica. This quality is referred to as direct reduction, or DR quality product.
The life of the mine is estimated to be in excess of 20 years, with the mine producing 7.5 million tonnes per annum of magnetite concentrate, and generating annualised revenue of more than $800 million over that time.
Interim CEO Primary Steel and Mining and Director Industrial Projects Theuns Victor commenting on the project said:
“This grade of magnetite is a key enabler to Whyalla’s GREENSTEEL future, and strengthens its position as a consistent global supplier of premium quality magnetite to support low carbon intensive steelmaking.”
“When combined with renewables, particularly solar from our Cultana Solar Farm, our port, a skilled workforce, and supportive community and government, we have all the ingredients to create a world leading GREENSTEEL hub at Whyalla and fulfil our CN30 mission.”
SIMEC Mining General Manager Magnetite Expansion and Growth Gavin Hobart commenting on the project said:
“Our existing iron-ore operation in Whyalla is home to some of the highest purity and most desirable deposits of magnetite in the world.”
“The high quality of our ore makes it a critical resource to enable GREENSTEEL manufacturing and this successful pellet production is a significant milestone toward realising our plans.”
“Stage two of our magnetite expansion project represents a generational opportunity for economic growth in Whyalla.”
“Once operational, the project is expected to employ more than 1,200 workers and support around 3,500 people in the broader community.”
LIBERTY Ostrava signs contract with Danieli for two hybrid electric arc furnaces
New furnaces will reduce LIBERTY Ostrava’s emissions by over 80% by 2027
LIBERTY to invest CZK 8.6 billion (EUR 350 million) in Ostrava, the largest investment in the steelworks in a generation
Renewable energy partnership signed with ČEZ ESCO and GFG Foundation launched in Czech Republic
At a special event held today at the Ostrava steelworks, LIBERTY signed a contract with Danieli, a leading global manufacturer of plant and machinery, for the delivery of two state-of-the-art hybrid electric arc furnaces at the centre of Ostrava’s GREENSTEEL transformation plan. The CZK 8.6 billion (EUR 350 million) investment, which will be the largest investment in the steelworks for a generation, is a huge step forward in LIBERTY Ostrava’s plan to become carbon neutral by 2030 (CN30).
The new furnaces, the first of their kind in Europe, will have a combined capacity of 3.5 million tonnes per annum (mtpa) and will reduce the overall CO2 emissions of the Ostrava steelworks by more than 80% by 2027. The two 200 tonne furnaces uses the innovative and patented Danieli QONE power electronics technology to control arc current and voltage for a more efficient and stable power delivery to the furnaces. This will allow the furnaces to be more flexible in the charge mix from large quantities of Hot Metal and Direct Reduced Iron (DRI/HBI) and up to 100% scrap in the second phase of the project. In doing so the plant will reduce its reliance on imported coal and iron ore and provide even greater production flexibility. The new furnaces are expected to be operational in 2025 and will be able to melt 100% scrap in 2027 following the planned installation of a 400kV electricity line into the Ostrava steelworks.
LIBERTY has also launched the tender process for similar hybrid electric arc furnaces for Ostrava’s sister plant LIBERTY Galati, Romania, as it too transforms to GREENSTEEL technologies and the group targets 10 million tonnes of GREENSTEEL capacity in Europe over the next five years.
At the same signing ceremony LIBERTY Ostrava signed a Declaration of Cooperation with ČEZ ESCO, part of the ČEZ group which is one of Europe’s largest energy companies. This partnership will identify and develop the renewable energy and hydrogen technologies required for Ostrava’s GREENSTEEL transformation. The group also announced the launch of the GFG Foundation in the Czech Republic – a charity founded by Sanjeev and Nicola Gupta aimed at inspiring, encouraging and helping future generations into a career in industry.
Sanjeev Gupta, Executive Chairman of LIBERTY Steel Group said: “The contract we have signed today is a historic milestone for the Ostrava steelworks and a massive step forward towards our GREENSTEEL and carbon neutrality plans here in Ostrava and across Europe. This is the largest investment in Ostrava for a generation and the start of a major transformation across Europe as we move away from older polluting production methods to the latest lower carbon production technologies. This will not only make us a cleaner and more sustainable producer but also a more responsive and dynamic player in the market. Our investment shows our long term commitment to the workforce here at Ostrava, the local community and the future generations that will come to work in what will be a modern, clean steel plant. I’d like to thank the team at LIBERTY Ostrava for all the work that has gone into preparing for this huge investment.”
Giacomo Mareschi Danieli, Chief Executive Officer of Danieli, said:“Danieli is delighted to have been selected by LIBERTY Ostrava as the technology provider for this prestigious project that represents a milestone in European steelmaking history, being the first major project in Europe that will replace carbon based blast furnace technology with the latest electric arc furnace green steel technology. The two new 200 tonne hybrid electric arc furnaces, known as Danieli Digi Melter (DDM) will incorporate the latest design and technological packages in the field of electric arc furnace melting to ensure the lowest CO2 and NOx emissions, whilst also providing a significant improvement in liquid steel conversion costs, thereby improving the competitiveness of the LIBERTY Ostrava plant. Safety improvements shall also be derived through a suite of technological packages that automate tasks that have traditionally been carried out manually, hence removing operators away from the hazardous exposure to liquid steel. This contract is an excellent example that decarbonization does not mean a threat, but rather an opportunity for improvement. The new hybrid furnaces will be more efficient, produce high quality steel at a lower cost, with significantly lower emissions. This is an investment for the future of LIBERTY Steel alongside the future of the planet.’’
Kamil Čermák, the chairman of the board and the CEO of ČEZ ESCO, said:”The steel industry in Europe stands at an important crossroads. We appreciate LIBERTY Ostrava’s decision to switch to low-emission steel production technology based on electric arc furnaces. We look forward to working with the LIBERTY Ostrava team, with whom we will seek and develop low-carbon and carbon-free technologies, especially in the field of renewable energy and hydrogen. Together we want to secure the future of steel mills and contribute to a substantial improvement of the environment in the Ostrava region.”
Notes:
While the tender process for the furnaces has been underway the LIBERTY Ostrava team have also achieved some other important milestones in the company’s move towards carbon neutrality:
Invested CZK 88 million, including CZK 28 million from the Czech Government’s Operational Environment Programme, on the installation of a new exhaust pipeline at its sinter plant north, aiming to reduce fugitive emissions by around 46%.
Received approval for an amended Environmental Impact Assessment (EIA) to incorporate the new furnaces and submitted many applications for the required zoning, demolition and building permits.
Launched a tender for the pipe & pipe bridge, sewerage, cable and railway relocations required before ground-breaking can start for the furnaces.
Completed the tender for a General Designer which will responsibility for the integration of the many different transformation projects, other than that of the furnaces’ installation.
In addition to the modernisation of the steel shop, LIBERTY Ostrava’s transformation will also include an extensive modernisation of the steel rolling mills, which will improve the quality of steel and expand the product portfolio with high added value products. LIBERTY Ostrava has already announced extensive modifications worth almost a billion Czech crowns to its Hot Strip (Steckel) mill, the only producer of hot rolled strip steel in the Czech Republic. The investment programme will also see the creation of a renewable power plants for electricity production as well as the development of the GREENSTEEL Academy, which aims to upskill the plant’s current workforce and encourage new people into the industry.
LIBERTY Ostrava initiated the tender process in November 2020 and has evaluated offers from a number of global technology providers.
Further information from:
Barbora Černá Dvořáková Head of Communications LIBERTY Ostrava
LIBERTY Ostrava is an integrated steel business with an annual production capacity of approximately 3.6 million tonnes per annum serving construction, machinery and oil & gas industries. The company is a domestic leader in the manufacture of road barriers and tubes. In addition to the Czech market, it supplies its products to more than 40 countries around the world. Together with its subsidiaries in Ostrava, the company has 6,000 employees. The company manufactures its products with a minimum possible environmental footprint. www.LIBERTYostrava.cz
Danieli
Danieli is a leading plantmaker and its portfolio includes production processes ranging from reduction of iron ore to long and flat products finishing lines. Danieli is developing and improving technological processes to reduce greenhouse gases, increase energy efficiency and enhance the protection of the environment.
ČEZ ESCO
ČEZ ESCO (Energy Service Company), member of ČEZ Group, focuses on modern energy solutions related to energy efficiency, decarbonization and climate change mitigation for industrial customers, municipalities and institutions. These include energy audits and energy efficiency products, construction and operation of photovoltaic plants and cogeneration units, implementation of metering systems, HVAC and renovation of heating systems. ČEZ ESCO is also a supplier of services related to public and corporate electromobility. It also provides electricity, gas and heat to its customers. It has about 2000 employees. ČEZ ESCO’s subsidiaries include AirPlus, AZ KLIMA, CAPEXUS, ESCO Distribution Systems, ČEZ Energetické služby, ČEZ ENERGO, ČEZ LDS, Domat Control System, E-Dome, EP Rožnov, ENESA, HORMEN and KART. More at www.cezesco.cz
GFG Alliance’s SIMEC Mining has commenced its magnetite expansion project
This project is a significant step in GFG’s GREENSTEEL transformation of its integrated mining and steelworks in Whyalla and it’s CN30 mission
GFG Alliance has taken a significant step in its GREENSTEEL transformation journey in Whyalla with the start of its magnetite high-quality iron ore expansion.
GFG’s mining arm, SIMEC Mining, is completing construction of the first of a two-phase de-bottlenecking process which will increase magnetite concentrate production to 2.5 Mtpa.
This work marks an important step in GFG’s journey to develop South Australia’s vast magnetite resource to support its CN30 ambitions.
Processed magnetite concentrate is a high-quality energy efficient iron ore product which is needed to feed the Direct Reduced Iron (DRI) process. DRI enables the use of hydrogen as an alternate reductant to fossil fuels, and when fed by renewable energy it makes GREENSTEEL.
This magnetite expansion work offers GFG the chance to increase exports to its steelworks in Europe and to strengthen its position as a consistent supplier of premium quality magnetite to support low carbon intensive steelmaking.
GFG Alliance Executive Chairman Sanjeev Gupta commenting on the project:
“Our purpose is to create a sustainable future for industry and society and that starts right here with magnetite – a critical enabler of our global GREENSTEEL strategy. Thankfully it’s an iron ore we have in abundance right here in Whyalla.”
“Combined with renewables, particularly solar from our Cultana Solar Farm, our port, a skilled workforce, and supportive community and government, we are in a unique and enviable position to create a world leading GREENSTEEL hub and help fulfil our CN30 mission. That’s exciting!”
Sanjeev Gupta – Audio grabs [MP3 files]
SIMEC Mining General Manager Magnetite Expansion and Growth Gavin Hobart commenting on the project:
“High grade magnetite iron ore allows alternate iron and steelmaking technologies to be considered with lower energy demands and lower-carbon steel technologies to be considered, and that’s where GFG is ultimately heading.”
“SIMEC has a large-scale resource, an existing route to market, supply chain infrastructure in place, and over a century of mining history in the region. The team driving the expansion already intimately understand the resource and magnetite production technology and process, and we are pleased to be able to play our role in creating a greener future and helping to deliver on our CN30 ambition.”
Whyalla’s iconic steelworks has been awarded a key contract to supply rail products for the Inland Rail project.
Under the contract, LIBERTY Primary Steel will continue its contribution to the project by supplying 147,000 tonnes of steel over the next three to five years. The Whyalla Integrated Steelworks will produce the remainder of rail needed for the nationally significant Inland Rail project and other rail projects delivered by the Australian Rail Track Corporation (ARTC).
The contract will see more than 2,400km of rail manufactured in Whyalla for the Inland Rail track from Melbourne to Brisbane and other ARTC projects including the Southern Highlands crossover project, Narrabri to Turrawan rerailing project as well as ARTC maintenance and rerailing projects in New South Wales and South Australia.
Jason Schell, Executive Managing Director Primary Steel, said the contract would support the 1,500-strong workforce at the iconic Whyalla Integrated Steelworks. “LIBERTY Primary Steel is proud to contribute high-quality, Australian-made product to projects of the scale and importance of Inland Rail,” he said. “It’s exciting to see this nation-building project being built with Australian steel and benefitting regional communities across Australia, including Whyalla.
“We already have a strong association with ARTC through the Tangent Rail Development – a collaborative initiative culminating in a modified rail profile delivering a lower cost solution for ARTC and continuity of supply of quality steel rail to major infrastructure projects from the Whyalla Steelworks.”
Mark Campbell, ARTC CEO and Managing Director, said ARTC was continuing to support Australian manufacturing at a time when the nation continued to fight back against the economic impacts from COVID-19.
“This contract reinforces the investment in rail, including Inland Rail, which is supporting jobs and building efficient and strengthened supply chains for generations to come,” he said.
“Towns like Whyalla produce world-class products and we will be supplied with 147,000 tonnes of top-quality Australian made steel for the remainder of Australia’s transformational infrastructure project Inland Rail and to support ARTC’s operational requirements.”
Sanjeev Gupta, Executive Chairman GFG Alliance, said the contract was a great success for the Whyalla’s Integrated Steelworks.
“This announcement is testament to the hard work of our people and demonstrates our business is in a strong position,” he said. “Steel is essential in the modern world and essential in developing a thriving industrial economy. We are pleased to be associated with key Australian infrastructure projects like Inland Rail.”
LIBERTY Primary Steel has been supplying rail products to the Inland Rail project since 2017.
GFG Alliance has welcomed the South Australian government’s announcement on funding guidelines to co-finance operational efficiency projects at the Whyalla Integrated Steelworks.
It is the first step in releasing a $50 million grant that will fund approved projects to be matched on a “dollar for dollar” basis by the GFG Alliance. The state government announced the grant to support the new owner of the integrated steelworks when it was in administration. GFG Alliance has been in regular dialogue with government about its plans to upgrade the steelworks.
Under the guidelines, approved projects should result in such things as improved product quality or plant efficiency, reduced unit production costs, introduction of new value-added products, or increased and innovative employment opportunities at the steelworks.
An approved project must commence within 12 months of approval by the government and be finalised within three years of approval. The steelworks’ will also be required to provide regular project specific reports.
Jason Schell, Executive Managing Director Primary Steel, said:
“The objective of the $50 million grant is to contribute to approved projects that aim to improve the productivity and efficiency of the Whyalla’s Integrated Steelworks.”
“Our team is working to advance strategic upgrade project proposals that qualify for government funding, while we continue to progress our long term GREENSTEEL Transformation plan at Whyalla.”
“We welcome the announcement made by the Marshall Government, honouring a government commitment made at a time when the business and local community was facing an uncertain future.
“The local team has worked hard to register record-breaking performances. Through an operational efficiency drive, continuous improvement initiatives and favourable market conditions underpinned by investment in infrastructure, we have turned performance around.
The proposed grant is in addition to the significant investment the GFG Alliance has already made in plant and equipment to improve the efficiency of the Whyalla Steelworks and mining operations.
GFG Alliance announces restart of LIBERTY Steel USA’s Georgetown, South Carolina plant, shut down during Covid-19 pandemic
International operations continue to perform well, reflecting operational improvements and continued strength in metals markets
LIBERTY Liège to restart operations, following the Liège Commercial Court’s validation of its transformation plan, also approved by creditors
Group preparing for next phase of debt restructuring
Following the creation of LIBERTY Steel Group’s Restructuring and Transformation Committee (RTC) in May 2021 and the sustained progress achieved to date, GFG Alliance (GFG) and the RTC today report further developments across the Group.
Jeffrey S. Stein, Chief Restructuring Officer said: “We’re pleased to announce the restart of LIBERTY Steel USA’s Georgetown, South Carolina plant, further evidence of healthy market conditions and strong infrastructure spending across much of the globe. GFG Alliance’s international businesses are achieving excellent performance which is bolstering cashflow and boosting the Group’s refinancing efforts. Since our last update further organisational progress has been made to focus the group on its core businesses, cementing the foundations for a successful recovery”
Actions taken
United States
LIBERTY Steel USA is to reopen its Georgetown, South Carolina rod mill as strong market conditions enable a sustainable restart following a period of care and maintenance during the Covid-19 pandemic. LIBERTY Steel Georgetown will resume production in mid-January, enabling 65 employees to return to work, as higher construction and infrastructure spending strengthens demand and the provision of Section 232 tariffs and quotas on steel reduces imports.
UK
After a strategic review GFG Alliance announced in November that it will restructure LIBERTY Aluminium Technologies (LAT) and divest it to Evtec Aluminium Ltd. The transaction will secure the future of more than 170 jobs and ensure that the Coventry and Kidderminster plants continue to supply LAT’s solid long-term customer base. However, as a result of the restructuring, LAT’s plant in Witham will close, and sadly this may result in approximately 64 people being made redundant. We would like to thank all the staff for their hard work in consistently delivering quality products and services to their clients during a period of uncertainty.
Europe
In Belgium, the Liège Commercial Court has validated the LIBERTY Liège transformation plan, which has also been approved by the business’s creditors. The plan presented by the management team is an important and positive step for the long term, sustainable future of the business and its employees. In Luxembourg, the management team at LIBERTY Dudelange has agreed with both its unions and the Government to undertake a technical restructuring to temporarily protect its employees while new sources of financing are put in place.
Leadership
On 8th November Toker Ozcan was appointed as CEO, GREENSTEEL EMEA for LIBERTY Steel Group, as LIBERTY further strengthens its international management team to lead the global transition to GREENSTEEL. Mr Ozcan, who brings thirty years of experience in metals and mining, lastly as Chairman and CEO of Erdemir and Isdemir, will oversee GFG’s electric arc furnace operations in continental Europe, UK, and India, and also lead the Group’s downstream operations in continental Europe.
Regional updates
United States
LIBERTY Georgetown will integrate operations with LIBERTY’s Peoria, Illinois plant to fulfil a strong order book and clear a customer backlog. Billet will be manufactured in Peoria, taking advantage of the plant’s additional melt capacity, then delivered to Georgetown for conversion into 10,000 tonnes per month of finished rod.
LIBERTY Steel Georgetown has also implemented efficiencies such as utility cost savings, rental equipment return, and contractor reductions to improve profitability and develop a sustainable long term plan for the plant.
United Kingdom
LIBERTY Steel UK (LSUK) relaunched production at its GREENSTEEL Rotherham electric arc furnace in October, producing sustainable steel for growth markets such as infrastructure and high-value engineering. The restart followed a funding injection from GFG Alliance. The plant, among the UK’s most electro-intensive industrial sites, has been operating at night, to maximise efficiency and mitigate high energy costs. LSUK’s speciality steel division in nearby Stocksbridge which produces steel components for demanding aerospace and energy applications, also restarted focused production campaigns for key customers.
On 15th November LIBERTY Steel UK welcomed the Business Minister with responsibility for Steel, Lee Rowley MP, to its Rotherham plant.
As part of November’s COP26 summit GFG established a new three-way policy partnership with Green Alliance, the University of Sheffield Advanced Manufacturing Research Centre and Bright Blue, thought-leading organisations in the spheres of environment, manufacturing and policy-making. GFG launched the partnership with the Prospectus for GREENSTEEL, in which the three organisations highlighted the role that steel making and products made from steel can play in the drive to net-zero, with a competitive operating environment and the right policy incentives in place.
Europe
GFG Alliance’s European Works Council Agreement was signed with the Special Negotiation Body of employee representatives from across Europe. The agreement is a major step forward in GFG Alliance’s industrial relations and will be a pillar of its strategic commitment to embrace positive social dialogue on a European level.
Following the agreement of its restructuring plan, LIBERTY Liège will now restart its operations, start to implement a creditor reimbursement plan and continue its social dialogue to ensure its transformation plan can be implemented as soon as possible. Following the decision to undertake a technical restructuring at LIBERTY Dudelange to protect its employees, the management team will continue to work collaboratively with its stakeholders to identify new sources of financing and develop sustainable business plans for its future.
In Romania, LIBERTY Galati continues to perform strongly with its Q3 production levels up on those achieved in Q2 and around 20% higher than the same quarter in 2020. The business will have hired almost 650 new employees this year, with 100 new roles created by the plant’s increased production as well as the digitalisation and automation projects created as part of its GREENSTEEL transformation programme.
In the Czech Republic, LIBERTY Ostrava continues to perform well with its Q3 production levels at similar levels to those of Q2 but up more than 60% on the same quarter in 2020. The team are now in the process of evaluating the final tenders from potential suppliers of the two hybrid furnaces which are at the centre of Ostrava’s GREENSTEEL transformation plan and expects to select the chosen supplier very shortly. The business also expects to hire at least 100 new workers to support development of its seamless pipes market.
Australia
InfraBuild continues to perform strongly with revenue up 41% and EBITDA up 106% in quarter one FY2022 compared with the same quarter in the previous financial year. InfraBuild’s Sydney Steel melt shop produced 58,887 billet tonnes in October, surpassing a previous best of 56,955 billet tonnes in July 2018 and producing 3,569 more tonnes than forecasted. This major production record is a direct result of the continuous improvement and operational improvement initiatives taking place across the InfraBuild business.
On 18th November, the Tahmoor coking coal mine for the first time in its 40+ year history produced more than 25,000t in a single day, beating its previous daily record of 24, 877 tonnes achieved in March.
InfraBuild Technical Superintendent, Andrea Fontana, will be the voice of the iron and steelmaking industry on the Commonwealth Scientific and Industrial Research Organisation’s Hydrogen International Collaboration Program. The group aims to strengthen research connections, collaboration, and knowledge sharing between Australian and leading international hydrogen research organisations. Andrea is Chair of the Association for Iron and Steel Technology (Australia) and from his work with the Swinburne University of Technology, part of the Steel Research Hub.
Whyalla Steelworks won the South Australia Premier’s Awards in Energy and Mining in the Innovation and Transformation (Productivity Improvement) category. The Whyalla Steelworks’ Continuous Improvement (CI) Program was recognised for having improved efficiency, productivity and competitiveness, and for demonstrating innovative thinking.
LIBERTY Bell Bay’s Michael Spicer was recently recognised at the 2021 Women in Resources Awards in the Gender Diversity Champion category. In his role as Production Materials Movement Manager, Michael won the award for his efforts to increase female participation in the workforce – increasing his team’s diversity to 50 per cent of leadership roles and 16 per cent overall female participation.
Outlook
In response to the progress achieved by the RTC, Sanjeev Gupta, Executive Chairman of GFG Alliance, commented:
“In just ten months since Greensill collapsed we’ve made great progress. We completed the first phase of debt restructuring in Australia and injected fresh capital into our UK steel business. We have better integrated our downstream assets with our major production hubs and strengthened industrial relations through the formation of the European Works Council. The RTC has helped tighten our focus on governance, adding expertise and accountability to our decision-making, and enabling us to attract the best talent into all levels of our business.
The strides we’ve taken have enabled our core businesses to capitalise on strong markets and deliver record production volumes and profitability. This has put us in a strong position to achieve the next phase of our transformation and we are already seeing strong interest in Europe, the UK and the US. We are on track to deliver a refinanced, refocussed business able to deliver our GREENSTEEL vision and build value for all our stakeholders.”
Further information from:
Andrew Mitchell Head of Communications – UK GFG Alliance
GFG Alliance (GFG), owner of LIBERTY Steel Group, today reports further progress in its operational performance as well as the continued work by the specially appointed Restructuring and Transformation Committee at LIBERTY Steel to secure an environmentally and economically sustainable future for its businesses.
LIBERTY Powder Metals, the UK’s newest and unique producer of premium metal powders and alloys, has appointed Righton & Blackburns Limited as its sole distributor for all UK and Ireland markets in a deal that will act as a springboard for the growth of LIBERTY Powder Metals’ global distribution network.
The deal will enable Righton & Blackburns Limited, which has established its own Powder Metals division, to stock an initial 10 tonnes of powder metals across Liberty Powder Metals’ comprehensive portfolio of premium powders.
Righton Blackburns Powder Metals will hold inventory at its dedicated national distribution centre in the West Midlands, which serves as its hub to service customers throughout the UK and Ireland through its network of 10 service centres.
LIBERTY Steel’s Newport mill continues to make significant progress, achieving its best financial results for the first quarter, with the outlook for the second quarter looking even stronger. The business improved profitability last year despite challenging market conditions caused by Covid-19.
LIBERTY Steel Newport, which this month welcomed MPs who are members of the UK Parliament Business, Energy and Industrial Strategy Select Committee to site, manufactures hot rolled coil (HRC) for use in the UK manufacturing and construction sectors.
Strong sales along with a much-improved operational performance have put the business on a profitable footing. LIBERTY Steel invested just over £2 million last year in modernising the Newport plant and this has continued with £1.1 million spent in the first three months of this year. Investments include new gas furnace software and controls to lower gas consumption and reduce the plant’s carbon footprint.
The improved profitability also coincides with significant health & safety improvements under the stewardship of LIBERTY’s site management. New health and safety protocols mean the plant has now gone over 16 months without a Lost Time Accident, reflecting the importance GFG Alliance’s businesses place on keeping their workers safe.
