Leading steelmaker ArcelorMittal’s offer for galvanised steel production lines in near Liège, Belgium, has been accepted by trustees managing the distribution of assets for Liberty Galati’s Belgian operations, following its declaration of bankruptcy back in April.
The agreement, signed today, authorises ArcelorMittal Belgium to take over all facilities at Liberty’s Flémalle plant, including hot-dip galvanising line Galva 5, repair lines, and the water treatment plant.
“The galvanising line in Flémalle will allow us to expand our ability to manufacture a high added-value product for our automotive and construction customers across Europe,” said CEO of ArcelorMittal Belgium, Frederik Van de Velde. “We look forward to working with the skilled team in Flémalle and to restoring the plant to operating at a world-class level.”
ArcelorMittal expects to finalise its acquisition in the coming weeks, and will complete approximately nine months of maintenance and investment work to restore the line as production at the site has been inactive for a prolonged period.
ArcelorMittal originally owned the Flémalle assets, but sold the plant – and many of its other European assets – to Liberty to satisfy the European Commission’s competition concerns connected to its 2018 acquisition of Italy’s Ilva, and its Taranto steelworks.
In the meantime, ArcelorMittal has been supplying steel to Flémalle during Liberty’s tenure, and is said to have been a substantial creditor of Liberty Belgium prior to its bankruptcy. ArcelorMittal has since exited its stake in Ilva – renamed Acciaierie d’Italia – effectively bringing much of the last seven years of M&A full-circle.
Liberty’s other assets are suffering from financial challenges across Europe: its Dudelange site in Luxembourg declared bankruptcy in late 2024, and attempts to find a buyer faltered back in May after Turkish steel group Tosyali Holdings withdrew from the deal, citing European safeguard amendments.
In the UK, Liberty Special Steels is also facing liquidation or sale, with its recent winding up petition adjourned for eight weeks to 16 July, in order to finalise a potential deal with a “third party purchaser.”
Benjamin Steven Journalist, Steel
