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  • August 19, 2021
  • Results

LIBERTY Częstochowa on its way to produce 1mt per annum of GREENSTEEL

LIBERTY Częstochowa, the Polish GREENSTEEL producer, today reports that it has achieved positive EBITDA within seven months of LIBERTY Steel Group taking over the plant’s lease. The steel works also announced it will increase production to 1 million tonnes per annum and start adding to its 1,200 strong workforce.

LIBERTY restarted the plant within a few weeks of taking over the lease in December 2020. Since then, the plant’s 1,200 experienced employees have been steadily and safely increasing its production to their highest monthly levels since 2017. In July more than 57,000 tonnes of GREENSTEEL slab were produced, up from only 16,000 tonnes in January, while the rolling mills increased their production of GREENSTEEL heavy plate up to 42,000 tonnes in July from 12,000 tonnes in January. The plant has reported EBITDA of €7.1 million for the month of July.

LIBERTY Częstochowa’s success is an important step in LIBERTY’s ambitions to be a major GREENSTEEL producer in Central and Eastern Europe. The Częstochowa plant expects its products to be used in the major infrastructure projects due to be started shortly under the Polish Government’s Recovery Plan.

The plant has already initiated a number of initiatives to help drive its modernisation and sustainable transformation, including the recent signing of a cooperation agreement with the Częstochowa University of Technology to encourage greater collaboration in the areas of scientific research, education and exchange of expertise.

Krishnamoorthy Venkatasubramanian, the Executive Director of Liberty Częstochowa, said: “I am very proud of the team here at the Huta Częstochowa for their huge efforts in helping to restart and then rebuild our business since LIBERTY took over. 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.”