COMPANIES & STRATEGIES - TRADES

Liberty Steel

Employment retention plans for Dudelange steel plant



The steelmaker has had a tumultuous year following the pandemic and bankruptcy of its main creditor.  Photo: Nader Ghavami

The steelmaker has had a tumultuous year following the pandemic and bankruptcy of its main creditor.  Photo: Nader Ghavami

Liège-based steelmaker Liberty Steel had to restructure its company to avoid liquidation, following financial difficulties. The ensuing changes to the Dudelange partner plant will be accompanied by an employment retention plan.

A few months after its main creditor Greenill declared bankruptcy, steelmaker Liberty Steel had to propose a change to its structure in front of the Belgian company court to avoid having to shut down completely.

The plan succeeded, allowing Liberty Steel to keep its Dudelange branch and employees. Trade  unions OBGL and LCGB had, however, unsuccessfully pleaded for the departure of Liberty Steel in favour of another industrial investor.

 On 1 December, OGBL and LCGB reconvened with GFG Alliance, the parent company of Liberty Steel, at the ministry of economy to analyse the Belgian company court’s judgment and negotiate jointly for an employment retention plan for the nearly 300 employees of the Luxembourg branch.

The LCGB had previously explained it would demand a sustainable restructuring plan from Liberty Steel concerning production volumes of the steel plant located in the south of the grand duchy.