Integrated steel mill Liberty Galati in Romania (formerly Sidex), with a liquid steel capacity of 3 million tonnes, part of steel group Liberty, announced on March 4 that it entered the pre-insolvency procedure “to stabilise the business, optimizing the allocation of resources and opening up new investment opportunities.”
The measure is taken in the context of geopolitical changes, new tariffs imposed by the US on steel imports (25% as of March 12), and the lack of real measures to protect the steel industry at the European Union level, the company said.
“In the current market conditions, impacted by the prolonged war in Ukraine, high energy prices and huge imports from outside the EU that have flooded Europe, as well as in the…
