The Dudelange steel site is among the oldest in Luxembourg and was the "D" in Arbed, the steel firm which later became ArcelorMittal
Photo: Maison moderne/archives
Luxembourg-based steel giant ArcelorMittal has reached an agreement to sell finishing lines in Dudelange and Liège to Liberty House.
The firm announced in a press release published on Friday that it had received a binding offer from Liberty House Group for the acquisition of ArcelorMittal Dudelange, galvanizing lines 4 and 5 in Flemallen and hot-rolled pickling, cold rolling and tin packaging lines in Tilleur.
The sale concerns assets from a divestment package agreed between ArcelorMittal and the European Commission as a condition for its acquisition of Italian firm Ilva.
ArcelorMittal said that it had now received binding offers for the “complete divestment package”, meeting its European Commission commitments.
“Furthermore, by agreeing to binding offers from Liberty House for the full divestment package, the Company has met the EC’s preference of finding a single suitable buyer.”
The package of assets comprises ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia) and ArcelorMittal Piombino (Italy) (as announced on 12 October); ArcelorMittal Dudelange (Luxembourg) and the finishing lines at ArcelorMittal Liège (Belgium).
“These are high quality, landmark assets with skilled and experienced workforces that we are looking forward to welcoming into the worldwide GFG fold. Our aim will be to develop close working relationships with respective governments, trade unions and other local stakeholders in Belgium and Luxembourg to optimise and improve the value of these historic assets that are important for the regional and national economies,” GFG Alliance executive chairman Sanjeev Gupta said.