Media Type: Archive

Liberty has welcomed a host of new apprentices and graduates to its Speciality Steels business this week year, highlighting the continued importance of the next generation in taking forward the company’s GREENSTEEL strategy.

A total of 12 apprentices and four graduates embarked on their induction programme at Liberty Speciality Steels’ site in Stocksbridge. Renewable energy, materials, composites and environmental engineering are among the subjects that apprentices will learn about.

“I’d like to extend a warm welcome to the group of young people that have joined us this week to embark upon a long and fulfilling career in the steel industry,” training and delivery manager Tony Goddard said.

Read the full media release on the Liberty website

GFG Alliance today welcomed the UK Government’s announcement of a £250 million Clean Steel Fund and pledged to participate fully in a call for evidence on the fund’s design.

Commenting on the announcement, Cornelius Louwrens, CEO of Liberty Steel UK, said: “There’s a real opportunity for Britain’s steel industry to compete and prosper globally. But to do so, the industry needs to transform itself to a less carbon intensive, and a more sustainable model.

“The only way to do that is by switching from primary production in traditional blast furnaces to energy-efficient Electric Arc Furnaces, which offer a viable future by enabling Britain to recycle its own scrap steel rather than shipping it to other countries. Britain imports most of its steel and even the steel made in UK is mostly from imported and carbon intensive coal and iron ore.

“By assisting investment in Electric Arc Furnaces, this fund can also drive up the proportion of power drawn from renewable sources. Liberty Steel is demonstrating that this approach works at Rotherham, where we last year restarted an electric arc furnace mothballed by previous owners. We are also operating well established electrically powered furnaces in Australia and the United States.

“GFG is building a clean energy business through SIMEC Energy to power steel. Overall, this approach provides a path towards achieving the UK’s target of net zero greenhouse gas emissions by 2050.

“At present, 80% of the 21 million tonnes of steel and steel products Britain consumes every year is manufactured overseas. That needs to change. As a nation, we should be producing sufficient steel to satisfy our own strategically important industries – such as construction, car manufacturing and aerospace.

“This fund is a welcome initiative from the Government which demonstrates confidence in UK steel. If used properly, this funding can motivate and partner private-sector capital in making the changes that UK steel badly needs, to create jobs and to build an industry fit for the future.”

Wyelands Bank, set up to help small and medium businesses, has appointed Mark Turrell to its asset finance team.

Mark joins as the bank launches its newly created asset finance offering for the renewables sector.

Mark will focus on developing the bank’s offer to help support renewable energy firms to access finance and unlock growth.

His appointment is part of the bank’s strategy to help renewables and manufacturing businesses to trade and grow through the right combination of simple but specialist asset finance solutions. Mark will report to the MD of asset finance, Jim Higginbotham.

Jim Higginbotham, managing director, asset finance, at Wyelands Bank, said: “At Wyelands Bank, we get to know and understand our customers, helping them to access finance and unlock growth. With a strong track record in the renewable energy sector, Mark’s appointment demonstrates our commitment to support our customers in this critical sector.

Read the full media release on the Wyelands Bank website

GFG Alliance today successfully completed the acquisition of Steelforce, a vertically integrated manufacturer, trader and distributor of steel pipe and tube across Australia and New Zealand.

GFG Alliance Executive Chairman & CEO Sanjeev Gupta said he was looking forward to welcoming Steelforce into the Alliance.

“The acquisition increases our steel distribution capacity by 120,000 tonnes per annum and provides numerous potential optimisation opportunities while supporting our broader steel strategy here in Australia.

“GFG Alliance businesses, now including Steelforce, play an important role in producing products that are crucial to the Australian building and construction sector.

Steelforce will continue to operate independently ensuring their high levels of customer service and quality production continue – complementing GFG Alliance’s existing InfraBuild Building Products business.

“There will be natural synergies between Steelforce and GFG’s other businesses as they service their respective customer base and markets. However, our intention is to ensure both companies remain trusted suppliers of high-quality steel products to many of Australia’s largest infrastructure projects,” Mr Gupta said.

Steelforces’ China operations in Dalian represent a further expansion of GFG Alliance’s industrial footprint in China where it already has aerospace service centres at Suzhou and Xian and will strategically complement existing trading offices located in China.

The acquisition will add 249 people to the GFG family and, as with all its acquisitions, GFG will work to create sustainable growth for Steelforce – supporting its teams and the communities they operate in.

Sanjeev Gupta’s metals, industrials and energy group, the GFG Alliance, has made a key international executive appointment to strengthen its manufacturing activities worldwide.

GFG has recruited Neil Barrell, a senior partner in Grant Thornton, as its global head of integration and performance with a remit to optimise GFG’s growing network of manufacturing operations.

Neil, who takes up his new role on 1st July, has many years’ senior management experience – including nine years at CEO level – leading businesses in steel, aluminium and the automotive sector. During that time, he has spearheaded a number of business acquisitions and turnarounds, distinguishing himself in strategic, operational and commercial roles.

As well as leading Grant Thornton’s operational consulting practise, Neil was Grant Thornton’s head of UK manufacturing and industrials sector and the firm’s global automotive leader.

He joined Grant Thornton initially to create an automotive supply chain group, but his responsibilities expanded quickly to cover several sectors. He became a trusted advisor to high-profile businesses and institutions including Fortune 500, FTSE 100 and FTSE 250 companies, UK Government, financial institutions, private equity clients and large privately-owned entrepreneurial businesses, including the GFG Alliance.

Neil has led complex strategic reviews, acquisitions, turnarounds, integrations, and operational optimisation projects across the globe, predominately in his focus sectors of metals and automotive.

Commenting on his appointment he said: “This is an exciting opportunity to get the very best performance from the many quality manufacturing assets in my focus sectors that GFG has acquired over recent years. GFG has a clear vision for growth, innovation and sustainability, and I’m looking forward to being part of driving efficiency across the group.”

Sanjeev Gupta said: “Neil’s track record speaks for itself. As GFG enters a strategically important period, during which we will be integrating our global manufacturing activities and expanding the footprint of our key business pillars, his talent, experience and in-depth knowledge of many of our assets, will be invaluable in giving us a critical competitive edge.”

Shanghai: SIMEC Energy Australia (SEA), a member of Sanjeev Gupta’s global GFG Alliance, today signed a key strategic partnership with Shanghai Electric for engineering, procurement and construction (EPC) for the Cultana Solar Farm project in South Australia.

The agreement was signed by GFG Alliance Executive Chairman and CEO, Sanjeev Gupta, and President of Shanghai Electric, Huang Ou, in the presence of representatives from key supporting financial institutions.

Landmark renewable project

Cultana is the first project of SIMEC Energy Australia’s landmark US$1 billion, 1GW dispatchable renewable energy program in South Australia. With capacity of 280MW, Cultana is expected to produce around 600GWh of energy per year, powering GFG’s Whyalla Steelworks and a range of key government and commercial customers.

Set to be one of Australia’s largest solar farms, Cultana will deliver a range of benefits to the local community, increasing reliability and security of the state’s electricity supply and environmental benefits. The project is set to boost local employment, with ~350 positions during construction.

“Cultana Solar Farm is an ambitious project that will deliver globally-competitive renewable energy on a large scale to power-heavy industry. It is a great step forward in our vision to revitalise industry and we look forward to working with our partners to bring our renewables projects to life,” Mr Gupta said.

GFG previously announced its ambition to invest in up to 10GW of large-scale solar and other renewables projects across Australia, supporting industry.

Securing global expertise

Experienced leader, Shanghai Electric, will provide EPC for the Cultana project. Shanghai Electric’s global expertise includes the completion of the world’s largest concentrated solar power project in Dubai.

“We are fortunate and grateful to have the global expertise of Shanghai Electric,” Mr Gupta said. “Shanghai Electric have embodied the best form of partnership, working hand in glove with our people in Whyalla to develop the project. We are confident of their performance, to deliver this project on time, and on budget, to the highest standards, supporting our commitment to the creation of hundreds of new local jobs in South Australia.”

Part of a greater vision

The Cultana project will play a key role in the development of the visionary 10 Mtpa Whyalla Next-Gen steel plant project and industry revitalisation strategy championed by GFG. “Our planned Next-Gen project will ignite a new industrial revolution in Australia. These projects are shining examples of GFG’s commitment to create a sustainable future for industry and build stronger local communities,” Mr Gupta said.

GFG Alliance signed an agreement with Havilah Resources Limited today in Whyalla, South Australia, with the intent to support the development of iron ore and copper concentrate in South Australia to potentially feed its planned landmark Next‐Gen 10 Mt steel plant and its copper smelter project in Whyalla.

The proposed transaction (which is subject to Havilah shareholder approval) contemplates an investment of up to $100.0 million with respect to the Grants/Maldorky iron ore project and the copper prospects in Havilah’s Mutooroo Copper‐Cobalt District, including the Mutooroo deposit in the Curnamona Craton of South Australia.

The investment consists of a staged equity investment over a three‐year period. Funds will be used for agreed work programs to advance the projects to completed definitive feasibility studies, as well as for exploration, corporate and administration costs.

GFG Alliance Executive Chairman, Sanjeev Gupta, said of the agreement, “This is an important step forward in realising our vision for our landmark Next‐Gen steel plant and a copper smelter in Whyalla. We have been working with Havilah extensively since 2018, so this agreement is a strategic progression to create a streamlined partnership into the future. This investment has the potential to deliver significant iron ore feedstock reinforcing our ongoing commitment to support the future of Whyalla as a major steel producer. Havilah’s copper projects can also help underpin key feedstock needed for the copper smelter project we are exploring in Whyalla.”

“We were extremely impressed with Havilah’s work to date and their vision for the future. They share our commitment to South Australia and its industrial communities and we are confident our significant investment in Havilah will provide a platform for further growth in the region.”

The funding package will accelerate the development of the Havilah iron ore and copper and gold projects in South Australia, providing a clear pathway to commercialisation of Havilah’s mineral assets.

An 18-strong team representing the GFG Alliance, including some of the organisation’s top directors, took to the roads of the Highlands on two wheels this weekend as they pedalled furiously around Loch Ness to raise cash for a range of good causes.

Both GFG’s chief investment officer, Jay Hambro, and chief executive of its industrial businesses, Liberty Industries Group, Dr Douglas Dawson, led the way as the team from GFG – the business which owns the aluminium smelter at Fort William – set a red hot pace along the 66-mile route of the annual Etape Loch Ness road race.

As well as supporting the official event charity Macmillan Cancer Support, Dr Dawson was cycling on behalf of the Motor Neurone Disease Association, raising a total of over £10,000.

Group general counsel Simon Nasta also completed the course for Alive and Kicking, an African sports charity, raising almost £5,000 in the process.

“Raising money for a cause as worthy as the Motor Neurone Disease Association has made all the effort and hours involved whilst training for this gruelling cycle ride on a GFG Alliance, hand-made Shand Cycles classic “Rizello” road bike worthwhile,” Dr Dawson said.

“As a Scotsman, I’m proud to have participated in this iconic event within the cycling calendar set to the backdrop of such stunning scenery.  The aching legs are a sacrifice worth making!”

Shand Cycles, which is part of the GFG Alliance and manufactures bikes at its base in Livingston, was also at the event providing free mechanical and technical assistance to riders.

Industrial group to save over 600 jobs at sites in western France

Sanjeev Gupta’s GFG Alliance, has through its industrial business Liberty,  won its bid to acquire two French vehicle components suppliers in Poitou in the region of Nouvelle Aquitaine. Following rulings this week by the courts of Administration in Lyon and Poitiers, Liberty has become the owner of Saint Jean Industries Poitou and Fonderie du Poitou Fonte, and in so doing has secured hundreds of jobs dependent on them.

As a result of the rulings, GFG is now in a position to commence the implementation of a comprehensive recovery plan for the plants including, a refreshed orderbook, introduction of the LMOS (Liberty Manufacturing Operating System), investments in equipment and improvements in maintenance. The deal will secure the jobs of over 600 staff across both sites which produce a range of components for automotive engine assemblies. The businesses will henceforth be known as Liberty Engineering Poitou, incorporating Liberty Aluminium Technologies Poitou and Liberty Cast Products Poitou.

The acquisitions are an extension of GFG’s strategy for enlarging and diversifying its presence in the French Industrial sector and further underline its role as a major industrial player in France. They also allow the Alliance to enact its strategy of acquiring assets that give it a platform to deliver growth in the future of Green Drive Trains, used in electric vehicles, which will require ever increasing amounts of aluminium.

To that end, and in a move towards greater strategic focus and consolidation, the Alliance is looking to mobilise its aluminium and other activities into more globally-oriented business lines, which would of course include the Poitou companies.     

These businesses enter the Alliance’s French portfolio alongside France’s second largest vehicle converter Durisotti, France’s only manufacturer of aluminium wheels,  now Liberty Wheels France – and Europe’s largest aluminium smelter Liberty Aluminium Dunkerque.

The retention of a 600-strong workforce at the Nouvelle Aquitaine plants will allow GFG to draw on the significant local experience and expertise. The group will work with management and staff to improve operational working practices in order that the businesses can diversify their product ranges and build market share.

In addition, as both sites in part use recycled material to produce their components, their acquisition is another step towards GFG’s development of a GREEN-ALUMINIUM and GREENSTEEL supply chain, a key component of which is the increased use of recycled metals in the production process.

Speaking about the acquisitions, Chief Executive of Liberty Industries Group Dr Douglas Dawson said:

“This is a great day for both companies and for our group. Moreover, it’s a great result for the workers who I am delighted to be welcoming to the GFG family and growing portfolio of French businesses. We’ve been clear from the outset just how important the French market is for us and the acquisition of these specialist automotive suppliers is strategically very significant as we look to expand first domestically and then further afield while also adding value and safeguarding jobs and skills.

“This clearly expands our market reach and builds on our goal of extending our capabilities as a strategic Tier 1 supplier to the European auto sector. I look forward to visiting both sites shortly and welcoming our new colleagues to our French group of businesses.”

Liberty Engineering Group Chief Operating Officer – Europe Philippe Baudon, said:

“We applaud the courts’ decisions. It means that not only will we be able to retain many local jobs at the sites but also hundreds more in the wider supply chain that depend on and support these businesses. The dialogue with the employees has been excellent and very constructive. I’d also like to highlight the excellent work carried out with the Renault-Nissan team in concluding this transaction. All of this provides a good platform for the long-term future of the businesses. Our thanks go out to all those involved in the process, not least the staff and their representatives, the customers, the administrators and the French authorities.”

British industrialist, Sanjeev Gupta, has completed his acquisition of Diamond Bank UK as part of a strategy to help UK businesses trade internationally, especially with emerging and Commonwealth markets.

Diamond Bank UK, which was previously the British subsidiary of Diamond Bank PLC of Nigeria, will be renamed ‘the Commonwealth Trade Bank’ and will add significantly to the financial services offering within Mr Gupta’s global GFG Alliance, comprising metals, industrials, energy, finance and property businesses.

The CTB will facilitate greater international trade with countries such as Australia and India, giving customers the attention and support they need to unlock value within their businesses.

The Bank will offer a core range of trade solutions including receivables, inventory and supply chain finance, letters of credit discounting, and trade and documentary services associated with trade finance.

The Change in Control for the Bank follows the granting of approval for the acquisition by the Prudential Regulation Authority. As a regulated entity, the Commonwealth Trade Bank will be owned, governed and operated independently of Mr Gupta’s other businesses.

The Bank’s specific expertise in emerging and Commonwealth markets will complement the role of Wyelands Bank, Mr Gupta’s other bank in UK focused on working capital solutions for both domestic and global industrial companies, which was purchased by Mr Gupta in 2016. Both banks will operate independently.

Sanjeev Gupta, founder and executive chairman of GFG Alliance, said: “The CTB will be a highly valuable partner for Britain’s dynamic and ambitious companies that are looking to export their goods and services to some of the highest growth markets around the world like Australia and India.

“This is an exciting time for British businesses, with many new opportunities opening up in emerging and Commonwealth markets. By helping businesses to capitalise on these opportunities and expand their global footprint, I believe the Commonwealth Trade Bank will play a significant role in expanding trade worldwide.”

“Finance is the life blood of our economy and there is a clear gap in the market to provide accessible finance and bespoke solutions to facilitate greater trade flows. Utilising its global networks, breadth of experience and specialist expertise in emerging and Commonwealth economies, and adopting latest technological solutions, this bank will aim to become a leader among financial institutions globally that provide international trade finance.”

“GFG companies have a long history of trade within the Commonwealth and we hope to use that experience to design a British bank focused on helping UK companies to access exciting new opportunities in a post-Brexit world.”

“We are very excited to have been given the privilege of acquiring two of Britain’s banks in this coveted market. We will build on the success of Wyelands Bank and will make CTB a great champion also.”

The Bank’s chief executive, Peter Horton, said: “We’re looking forward to a bright future as a new, independent, entity. We will focus on making it easier for businesses, to trade internationally. We will take the time to understand their needs so we can tailor workable solutions that will enable them to make the most of existing value within their business. We will also invest significantly in our people and in latest technology so we can do more to empower businesses to trade internationally.”