GFG Alliance’s Restructuring and Transformation Committee in latest update have report further developments across US, UK, EU, Romania, Czech Republic and AustraliaUnited States - LIBERTY Georgetown will integrate operations with LIBERTY’s Peoria, Illinois plant to fulfill a strong order book and clear a customer backlog. Billet will be manufactured in Peoria, taking advantage of the plant’s additional melt capacity, and 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 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 maximize efficiency and mitigate high energy costs. LSUK’s specialty steel division in nearby Stocksbridge which produces steel components for demanding aerospace and energy applications, also restarted focused production campaigns for key customers. 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. 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 program.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 is now in the process of evaluating the final tenders from potential suppliers of the two hybrid furnaces which are at the center 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.
GFG Alliance’s Restructuring and Transformation Committee in latest update have report further developments across US, UK, EU, Romania, Czech Republic and AustraliaUnited States - LIBERTY Georgetown will integrate operations with LIBERTY’s Peoria, Illinois plant to fulfill a strong order book and clear a customer backlog. Billet will be manufactured in Peoria, taking advantage of the plant’s additional melt capacity, and 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 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 maximize efficiency and mitigate high energy costs. LSUK’s specialty steel division in nearby Stocksbridge which produces steel components for demanding aerospace and energy applications, also restarted focused production campaigns for key customers. 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. 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 program.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 is now in the process of evaluating the final tenders from potential suppliers of the two hybrid furnaces which are at the center 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.
