GFG Alliance completes acquisition of Tazmanian TEMCO

Wednesday, 06 January 2021 17:03:58 (GMT+3)   |   Istanbul
       

UK-based global industrial leader GFG Alliance has announced the completion of the purchase of the Tasmanian Electro Metallurgical Company (TEMCO) smelter at Bell Bay in northern Tasmania, Australia, from South32 Limited and Anglo American Plc, as a significant step forward in its pursuit to be self-sufficient in the supply chain.

The TEMCO facility, which is powered by renewable energy through Hydro Tasmania, has four submerged arc furnaces, including a sinter plant, and has the capacity to produce around 150,000 mt per year of high carbon ferromanganese and 120,000 mt per year of silicomanganese used in the production of steel. With the completion of the purchase, TEMCO has joined Liberty Steel Group as part of the GFG Alliance. The acquisition is an upstream integration for the company’s Whyalla plant in Australia and all its steel plants globally.

“GFG Alliance already produces the lowest carbon aluminum in the world in both the UK and France and I’m proud to add one of the world’s greenest ferroalloy producers to our portfolio. Our goal is to be carbon neutral by 2030 and I am proud to invest in a state like Tasmania, which has a plentiful supply of renewable energy resources,” Sanjeev Gupta, GFG Alliance executive chairman, said.

The company had entered into a binding sale and purchase agreement in August last year.


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