The sale of Dunaferr to Liberty Steel was a success, and both parties agreed to continue the work process.Continue reading
Liberty Dunaújváros, also known as Dunaferr, the country’s largest steel producer, has restarted its rolling mills and galvanizing line for galvanized sheet. Before ramping up production, the company will first focus on meeting special customer needs.
In a statement, Ajay Aggarwal, European President of Liberty Steel Group, said that the restart is the first step in the company’s renewal, which is a positive development not only for the company and its employees, but for the whole of Dunaújváros (central Hungary).
Part of the optimization program is to reduce unnecessary operating costs, so that the company uses fewer external services.
It was stressed that during the restructuring process, Liberty Dunaújváros will keep its employees and pay salaries as usual. At the same time, retraining courses will be launched, probably in the first half of the year, to prepare employees to operate the planned modern electric furnace. Liberty Dunaújváros is part of the Liberty Steel Group, which has a globally integrated steel business. With a global turnover of USD 11 billion, the group has a total rolling capacity of over twenty million tons, more than two hundred production sites in 13 countries worldwide and employs around 28,000 people.
Last August, Liberty Steel of India won the tender for a new company to own the steel assets of Dunaferr in Dunaújváros, which is in liquidation.
Dunaferr became insolvent by the end of 2022, due to the conflict between its Russian and Ukrainian owners, and government intervention prevented it from going out of business. The European Union approved the change of ownership of Dunaferr in October 2023.
Via Magyar Nemzet; Featured image via Wikipedia
