Liberty Commodities has officially confirmed that it has negotiated and completed the acquisition of the Wales-based hot rolled coil (HRC) producer MIR Steel (formerly known as Alpha Steel) on behalf of a consortium of Dubai-based Indian investors. Liberty will also manage the mill on behalf of these investors.
It is also learnt that the HRC mill will start rolling again shortly, focusing on the domestic market first and then slowly ramping up to full production and also targeting exports. The producer's melt shop revamp will be monitored closely and in the meantime slab will be imported primarily from Russia though other options are also being actively pursued.