Georgetown Steel owners enter deal to buy wire rod mill from ArcelorMittal

U.K.-based Liberty, part of the global GFG Alliance that also owns Georgetown Steel, announced that it has agreed to buy four European steel plants, including a wire rod operation, from ArcelorMittal.

A press release said that the “landmark transaction” that raise Libertyโ€™s total annual rolling capacity to over 15 million metric tons (mmt). The deal includes Mittalโ€™s integrated works at Ostrava in the Czech Republic, which has some 6,000 employees. Products made there include wire rod, hot-rolled coil, sheets, rebar, merchant bar and light rail. More than half the production is exported.

The deal also includes three other plantsโ€”one in Galati, Romania, and two (Skopje and Piombino) in Italyโ€”that produce a range of other steel products. The collective plants have some 12,500 employees. The deal was related to requirements for ArceloMittal, which is seeking to buy Ilva, a huge yet long-troubled steel giant in Italy.

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