GFG Alliance Completes Purchase of TEMCO
GFG Alliance has finalised the purchase of the hydro energy-powered Tasmanian Electro Metallurgical Company smelter in Bell Bay in northern
GFG Alliance has finalised the purchase of the hydro energy-powered Tasmanian Electro Metallurgical Company smelter in Bell Bay in northern Tasmania, a significant step forward in its pursuit to be self sufficient in the supply chain. After entering a binding sale and purchase agreement with South32 Limited and Anglo American Plc in August this year, finalisation sees TEMCO join LIBERTY Steel Group as part of the GFG Alliance family. GFG Alliance Executive Chairman Mr Sanjeev Gupta said the acquisition not only secured the jobs of the smelter’s 250 workers but would also play a key role in enhancing LIBERTY’s drive to be self sufficient in the supply chain. He said “When we entered into the agreement in August, I flagged that our investment in key inputs such as ferromanganese and silicomanganese would generate supply chain value to ensure a sustainable and globally competitive steel manufacturing sector. This acquisition is an upstream integration for Whyalla and all our steel plants globally.”
The TEMCO facility, which is powered by Hydro Tasmania, has four submerged arc furnaces, including a sinter plant, and has the capacity to produce around 150ktpa of high carbon ferromanganese and 120ktpa of silicomanganese used in the production of steel.