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Liberty Steel Group is facing a financing squeeze following the collapse last month of its major financier Greensill Capital.
All labor unions at Liberty Steel Ostrava have now issued strike warnings due to their increasing concerns at the situation facing Liberty Steel Group and its parent, the international group GFG Alliance, the OS KOVO Liberty Czech Republic union, the works biggest union, announced on its web pages April 13.
Liberty Steel Ostrava has an annual production capacity of 3.6 million mt and employs around 6,000 people.
A GFG Alliance spokesperson said in an emailed statement that GFG is deeply disappointed by the response of the unions to the current situation at LIBERTY Ostrava, which can only add to the uncertainty following the collapse of Greensill. We are ready to engage with the unions to reduce their concerns over the issue they have r
BW Businessworld
Liberty Steel Ties Up With European Firms To Build France s First Hydrogen-Based Steel Plant
While Paul Wurth is a Luxembourg-based engineering company providing technology for the global iron making industry, SHS -Stahl-Holding-Saar of Germany is an operations management company.
Photo Credit : Shutterstock
UK-based Liberty Steel Group, owned by Indian-origin metals tycoon Sanjeev Gupta, has signed MoUs with two European companies to set up France s first hydrogen-based steel making plant.
Liberty Steel Group is part of diversified GFG Alliance, which has a presence in India. Last year in February, GFG Alliance made a foray into the domestic steel industry with the acquisition of Adhunik Metaliks Ltd and its arm Zion Steel for about Rs 425 crore. LIBERTY Steel Group has signed a Memorandum of Understanding (MoU) with Paul Wurth and SHS to assess the building and operating of an industrial-sized, hydrogen-based steel making plant at Dunkerque in France. If deve
Liberty Steel ties up with European firms to build France s first hydrogen-based steel plant
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Last Updated: Feb 22, 2021, 02:48 PM IST
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Synopsis
Liberty Steel Group is part of diversified GFG Alliance, which has a presence in India. Last year in February, GFG Alliance made a foray into the domestic steel industry with the acquisition of Adhunik Metaliks Ltd and its arm Zion Steel for about Rs 425 crore.
Agencies
Liberty Steel Group has signed MoUs with two European companies to set up France s first hydrogen-based steel making plant.
UK-based Liberty Steel Group, owned by Indian-origin metals tycoon Sanjeev Gupta, has signed MoUs with two European companies to set up France s first hydrogen-based steel making plant.
UK’s Liberty Group buys bankrupt SBQ Steels
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Liberty paid Rs 262.45 crore plus interest of Rs 8 crore to take the Nellore based steel company, its second acquisition through the bankrutpcy process after acquiring the bankrupt Adhunik Metaliks and its associate Zion Steel in February 2020 under the insolvency law in a Rs 425 crore cash deal.
Agencies
The steel plant also has two power plants with 45MW capacity each.
Mumbai: The UK based Liberty group has acquired the bankrupt 0.25 million tonne SBQ Steels, culmulating a three year process in which the company was put into liquidation after inital efforts to sell it failed.
Liberty Group buys SBQ Steels in its second bankruptcy acquisition
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Synopsis
Liberty paid Rs 262.45 crore plus interest of Rs 8 crore to take the Nellore based steel company, its second acquisition through the bankrutpcy process after acquiring the bankrupt Adhunik Metaliks and its associate Zion Steel in February 2020 under the insolvency law in a Rs 425 crore cash deal.
Agencies
The steel plant also has two power plants with 45MW capacity each.
Mumbai: The UK based Liberty group has acquired the bankrupt 0.25 million tonne SBQ Steels, culmulating a three year process in which the company was put into liquidation after inital efforts to sell it failed.