Liberty Steel Group, part of GFG Alliance, announced that it made a non-binding indicative offer (NBIO) as part of a thyssenkrupp-led process to acquire the steel activities of thyssenkrupp. Liberty Steel, a global steel and mining business, has 30,000 employees in more than 200 locations on four continents. A possible combination of Liberty Steel and thyssenkrupp Steel would create a group well positioned to tackle the challenges faced by the European steel industry.

Liberty Steel is convinced that a combination with thyssenkrupp Steel Europe can be the right answer from an economic, social and environmental perspective. From an economic perspective, there is potential for a compelling industrial concept given that the businesses are complementary with respect to assets, product lines, customers and geographic footprint. From a social perspective, Liberty Steel stands for a long-term commitment to the industry and jobs reflecting the values of a family-owned company. From an environmental perspective, Liberty Steel is a leader in sustainable industry with a mission to become carbon neutral by 2030. A joint entity would be well positioned to create the sustainable GREENSTEEL industry leader in Europe.