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Liberty Steel plans to invest EUR200 mln in Galati steel plant
2019-09-03 15:11:00 【Print】
Liberty Steel plans to invest around EUR 200 million in its newly acquired Galati steel plant in order to maintain capacity, expand product ranges and make more higher quality products.
Liberty Steel completed in July the acquisition of seven major steelworks and five service centers across seven European countries from ArcelorMittal, including the steel plant located in Galati, eastern Romania. The group paid EUR 740 million to ArcelorMittal for the plants located in the Czech Republic, Romania, North Macedonia, Italy and Belgium.
Chief Executive Officer Jon Bolton told that Liberty Steel plans to invest more than EUR 400 million in five years at the seven sites to maintain capacity, expand product ranges and make more higher quality products as the industry faces challenges from US tariffs. About half of the investment will go to the Galati plant in Romania, as growth prospects there are better than in other parts of Europe, according to Bolton.
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Liberty Steel completed in July the acquisition of seven major steelworks and five service centers across seven European countries from ArcelorMittal, including the steel plant located in Galati, eastern Romania. The group paid EUR 740 million to ArcelorMittal for the plants located in the Czech Republic, Romania, North Macedonia, Italy and Belgium.
Chief Executive Officer Jon Bolton told that Liberty Steel plans to invest more than EUR 400 million in five years at the seven sites to maintain capacity, expand product ranges and make more higher quality products as the industry faces challenges from US tariffs. About half of the investment will go to the Galati plant in Romania, as growth prospects there are better than in other parts of Europe, according to Bolton.
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