Liberty Steel Group Makes Offer for thyssenkrupp
By Metal Center News Staff
on Oct 16, 2020
Liberty Steel Group has made a non-binding offer to acquire the steel business of thyssenkrupp. Liberty is a global steel organization with annual revenues of approximately $15 billion, with more than 200 locations on four continents.
With both transformation experience and an entrepreneurial approach, a possible combination of Liberty Steel and thyssenkrupp Steel would create a strong group well positioned to tackle the challenges faced by the European steel industry and accelerate the transformation to GREENSTEEL, Liberty executives said.
Liberty Steel is further convinced that a combination with thyssenkrupp Steel Europe can be the right answer from an economic, social and environmental perspective.
From an economic perspective, there is potential for a compelling industrial concept given that the businesses are complementary with respect to assets, product lines, customers and geographic footprint.
From an environmental perspective, Liberty Steel has been promoting efforts for the industry to become carbon neutral by 2030. But to transform a whole industry a European approach is required, executives said.
The discussions with thyssenkrupp have been conducted on a non-exclusive basis, and there is no certainty that the discussions will lead to any agreement or transaction.