Saarstahl acquires Liberty Steel’s French plants Ascoval and Hayange

Friday, 06 August 2021 13:34:43 (GMT+3)   |   Istanbul

Germany-based long steel producer Saarstahl, a subsidiary of German steel producer SHS Stahl Holding Saar, has announced that it has acquired two French steel plants Ascoval and Hayange from UK-based Liberty Steel.

According to the company’s statement, SHS focuses on the production of high-quality green steel and the acquisition is fully in line with SHS’s growth and diversification strategy. “They allow us to develop new activities and to strengthen our competitiveness in line with our ongoing structural transformation process,” Karl-Ulrich Köhler, chairman of the management board of SHS.

Ascoval combines the circular economy with a new technology with low carbon emissions. The electric arc furnace technology enables the plant’s production of state-of-the-art steel with a neutral carbon footprint. Hayange produces railway infrastructure products, which are essential for the development of sustainable mobility solutions. Ascoval and Hayange will also gain access to new business fields with this takeover, such as the automotive sector, and geographical markets.

Most Recent Related Articles

German crude steel output rises by 16.1 percent in January-September

Singapore’s Esteel to purchase Amsteel’s stake in Antara Steel Mills

France’s metal industry output up 2.9 percent in August from July

Euro zone manufacturing PMI down slightly in Sept, supply chain issues weaken growth

EIB grants loan to ArcelorMittal for research and development program 2021-23