Liberty Steel still does not produce pig iron in Europe, despite an announcement on November 7 that the restart of blast furnace No. 5 at the Galati site in Romania would be completed within a few days.
Other European The company's blast furnace in Ostrava, Czech Republic, has been shut down since October 20 due to weak demand. Since then, it has not been restarted.
The Galati Iron and Steel Works has submitted an application to the Exim Bank of Romania for “working capital support” within the framework of the “Framework Scheme of State Assistance to Ukraine,” a Liberty representative said. The European Commission will provide the country with 4 billion euros ($4.4 billion), which will be used for companies affected by the war in Ukraine.
Liberty rolls out imported Russian slabs, which are financed by traders. The company also imports Russian raw materials for its pipe plant in Ostrava.
Liberty Ostrava met with Czech electricity supplier Tameh this week to discuss debt repayment. Both companies declined to comment on the negotiations.
50% of Tameh's shares are still owned by ArcelorMittal, which recently applied for a freeze of orders against Liberty, seeking payment of an arbitration award of 140 million euros. The freezing order was issued by the Singapore High Court in September but has since been suspended, according to a Liberty spokesman.
