Local media Wort has reported that Liberty Steel has rejected an acquisition offer for its Dudelange galvanizing mill in Luxembourg from National Credit and Investment Company SNCI. LCGB union Deputy Secretary General Mr Robert Fornieri said “We're nowhere to sell the site at the moment. Local management says it is mainly informed by the press. The chairman of the works council also explains that he doesn't know any more. This is outrageous and is becoming more and more confusing!” Mr Fornieri added “Management is working on a restart set for the month of May with a plan for resumption, but I don't believe it too much anymore, they have already indicated us resumption for all months of the year.” Ministry of Economy has recently announced the GFC Alliance group has rejected the government's offer. It had said “The sale would be made through the SNCI. SNCI would purchase the assets of Liberty Steel and then resell them to one of the industrial buyers that the Department is in contact with. A first such proposal from the ministry was rejected by Liberty Steel while a counter-proposal is pending.” The LCGB representative is now waiting for February 24, the date by which a buyer must be found for the Liège-based Liberty Steel company. Last December, the Liège Company Court upheld the decision to initiate legal restructuring proceedings. The Dudelange mill, which produces hot-dip galvanized coil, has been idled for weeks
Local media Wort has reported that Liberty Steel has rejected an acquisition offer for its Dudelange galvanizing mill in Luxembourg from National Credit and Investment Company SNCI. LCGB union Deputy Secretary General Mr Robert Fornieri said “We're nowhere to sell the site at the moment. Local management says it is mainly informed by the press. The chairman of the works council also explains that he doesn't know any more. This is outrageous and is becoming more and more confusing!” Mr Fornieri added “Management is working on a restart set for the month of May with a plan for resumption, but I don't believe it too much anymore, they have already indicated us resumption for all months of the year.” Ministry of Economy has recently announced the GFC Alliance group has rejected the government's offer. It had said “The sale would be made through the SNCI. SNCI would purchase the assets of Liberty Steel and then resell them to one of the industrial buyers that the Department is in contact with. A first such proposal from the ministry was rejected by Liberty Steel while a counter-proposal is pending.” The LCGB representative is now waiting for February 24, the date by which a buyer must be found for the Liège-based Liberty Steel company. Last December, the Liège Company Court upheld the decision to initiate legal restructuring proceedings. The Dudelange mill, which produces hot-dip galvanized coil, has been idled for weeks
