Liberty Steel says it has taken some steps forward in the process of reorganising the structure of its Benelux units, in Liege and Dudelange.
The group confirms to Kallanish that Belgian authorities have validated the restructuring plan presented by Liberty for the Liege unit. Similarly in Luxembourg, an agreement on the restructuring was reached with the government and local trade unions.
“Following the agreement of its restructuring plan, Liberty Liège will now restart its operations, start to implement a creditor reimbursement plan and continue its social dialogue to ensure its transformation plan can be implemented as soon as possible,” the company says.
“Following the decision to undertake a technical restructuring at Liberty Dudelange to protect its employees, the management team will continue to work collaboratively with its stakeholders to identify new sources of financing and develop sustainable business plans for its future.”
In Liege and Dudelange, Liberty controls ten rolling lines for coil, producing mainly galv and packaging products. Since September, local trade unions have been expressing their concerns over the future of the Benelux plants as the company intends to cut jobs and restructure heavily.
In early November, the Luxembourg trade unions said the Dudelange mill was operating at only 20% of its installed capacity, while a recovery in output was expected in the first quarter next year.
Emanuele Norsa Italy
