SteelGuru Business News steelguru.com 22 Jul, 2021 04:15 am

ArcelorMittal Unlikely to Save Liberty Steel Dudelange in Luxembourg

ArcelorMittal Unlikely to Save Liberty Steel Dudelange in Luxembourg
Luxembourg Times reported that the embattled Liberty Steel plant in Dudelange in Luxembourg has secured payroll for two more months, with a

Liberty Steel DudelangeSteelGuru Luxembourg Times reported that the embattled Liberty Steel plant in Dudelange in Luxembourg has secured payroll for two more months, with a takeover of the site by its former owner ArcelorMittal unlikely.Luxembourg’s Economy Minister Mr Franz Fayot updated members of the Parliament's economic committee on the future of the Liberty Steel plant." European Commission Vice President Ms Margrethe Vestager seemed to create an opening earlier this month for those who want to reverse the Luxembourg and Belgium factory sales by ArcelorMittal to Liberty Steel in 2019.The main risk is that creditors force Liberty Steel to sell the Dudelange plant in an asset liquidation process, with unpredictable consequences.

” Belgian newspapers had reported that the government of the French speaking Belgian region of Wallonia last month agreed to loan Liberty Steel money that could be used to organise the sale of the Liège and Dudelange plants.Liberty Steel stepped in as the European Commission sought to ensure the steel market remained competitive.

Read full story at steelguru.com