Liberty Steel Group’s Polish heavy plate mill, Huta Czestochowa, is expected to increase production to 1 million mt/year, with current production at its highest monthly levels since 2017, the company said Aug. 18.
With Liberty having restarted the plant within a few weeks of taking over the lease in December 2020, in July more than 57,000 mt of greensteel slab was produced, up from 16,000 mt in January, while the rolling mills increased their production of greensteel heavy plate up to 42,000 mt in July from 12,000 mt in January, it said.
The company said it expects the Czestochowa plant made products to be used in major infrastructure projects due to be started shortly under the Polish Government’s Recovery Plan.
Liberty said the plant achieved positive EBITDA within seven months of taking over the plant’s lease, with EBITDA of Eur7.1 million ($8.3 million) for the month of July.
“We will now be focusing on further increasing our plant’s production of high quality GREENSTEEL, setting this plant up for a strong and sustainable future,” Liberty Czestochowa Executive Director Krishnamoorthy Venkatasubramanian said.
In May, Liberty Steel Group completed the acquisition of Huta Czestochowa, which it started leasing in late December, with the acquisition price put at $51.55 million.
Liberty Steel has exercised its option to acquire the mill, with an 840,000 mt/year crude steel capacity, from the Polish administrative court. The mill had run into difficulties under its previous leaseholder, Sunningwell International, and was idled in October.
— Filip Warwick