Economy & Politics

Liberty Steel eyes on Thyssenkrupp’s steel division

The British steel company wants to take over this division, which is in difficulty. The London-based company announced on Friday that it had presented an indicative offer, but without giving more details.

The British steel company wants to take over this division, which is in difficulty. The London-based company announced on Friday that it had presented an indicative offer, but without giving more details.

(JFC, with dpa) – Last year, the British steel group took over the ArcelorMittal sites in Dudelange and Liège. Now, two months after taking over the Hayange rail plant, Liberty Steel wants to take over the struggling Thyssenkrupp steel division. The London-based company presented an indicative offer, as it announced on Friday, but did not give further details.

Liberty Steel employs around 30,000 people and is active in ten countries on four continents – in addition to Europe, also in Australia, the United States and China. “Today we received an indicative offer for the acquisition of the steel company,” said Thyssenkrupp. “We are now reviewing this offer carefully. At the same time, we will continue discussions with other potential partners in the same way as before. Our aim is to make the steel industry sustainable for the future. For us, it is important to find the best solution for this ”.


The steel group, already installed in Dudelange, has officially taken over the control of the rail production site for the TGV in particular. A relief for the 400 or so Lorraine employees at the Fensch factory.


The context of the takeover bid: Thyssenkrupp is going through a deep crisis. The long-established company is in the red when it comes to steel. In the first nine months of the current fiscal year alone, it recorded an operating loss of over 700 million euros.

Overcapacity in the steel markets and collapsing demand are putting companies under pressure. In addition, billions will have to be invested in climate-friendly production. Group CEO Martina Merz has therefore been looking for a partner for some time. However, all previous attempts have failed.


Tags

Related Articles

Back to top button
Close
Close