History of Sanjeev Gupta Liberty House Group
Liberty House is a international industrial and metals group that delivers across the value chain - from metals trading and recycling, through to liquid steel, downstream steel products and services and value added engineering solutions.
The timeline below covers the history of the firm.
- 1992: Liberty House Group established
- 2000: Business involvement grows in in commodity trading
- 2007: Dubai office opens
- 2010: Singapore office established
- 2012: Liberty unveils new Hong Kong office
- 2013: Liberty acquires MIR Steel Newport, a two million tonne / year steelworks
- 2015: Liberty Steel Newport recommences steel production
- 2015: Liberty purchases steel assets from Caparo Industries Plc
- 2016: Liberty purchases EAF, caster and rolling mills of former Sheerness Steel
- 2016: Liberty signs agreement to acquire Tata Steel plate plants in Scotland
- 2016: Liberty reopens Dalzell Steel Mill
- 2016: Liberty launches Liberty Metal Recycling (UK, Europe & USA focus)
- 2016: Liberty reopens structural hollow sections mill in Tredegar, South Wales
- 2016: Liberty opens new office in Shanghai
- 2016: Buys hydro-power and aluminium smelting operation at Lochaber
- 2016: Completes purchase of Lochaber smelter & other assets from Rio Tinto Alcan
- 2017: Acquires CovPress, a vehicle pressings and assemblies manufacturer
- 2017: Acquires Tata Speciality Steels businesses from Tata
- 2017: Liberty acquires 100% of the share capital of Caparo Merchant Bar
- 2017: Agrees to purchase Hartlepool mills from Tata Steel UK
- 2017: Acquires OneSteel - leading Australian manufacturer of steel long products
- 2018: Agrees to buy Dunkerque aluminium smelter from Rio Tinto for $500m
- 2018: Completes purchase of Georgetown Steel in USA from ArcelorMittal
- 2018: Gets creditor approvals for acquisition of Adhunik Metaliks in India
- 2018: GAM - a Swiss Liberty financier - reported to be in difficulty
- 2018: Plans announced for purchase of several European ArcelorMittal plants
- 2018: Acquires US-based steel wire firm Keystone Consolidated Industries
- 2018: Signals interest in acquisition of Stemcor
- 1992: The GFG Alliance is an international business group associated with the Gupta family.
The alliance includes Liberty House (founded by Sanjeev in 1992), SIMEC Group (founded by Parduman Gupta in 1996) as well as Wyelands Bank. SIMEC Group is an energy and natural resources business focused on renewable energy as well as infrastructure and commodities trading.
- 2013: MIR Steel Newport was later renamed Liberty Steel Newport. This facility produces hot rolled steel coil from imported slab.
- 2016: Equipment from the disused Sheerness Steel plant included an advanced VAI Fuchs electric arc furnace along with Fuchs ladle furnaces and a Concast four-strand billet caster; as well as bar and rod rolling mills. The capacity of this equipment was approx. 800,000 tonnes of rolled steel product a year. Sheerness Steel itself was opened in 1972 but was sold to new owners because of financial difficulties in 2003, when it was renamed Thamesteel. Thames steel then went into administration in 2012, when its assets were sold to the Saudi Arabian-based Al-Tuwairqi Group.
- 2016: The two Scottish plate plants acquired by Sanjeev Gupta of Liberty House were the plate mills in Motherwell and Cambuslang, which Tata Steel had intended to mothball.
- 2016: The Dalzell Steel Mill is a heavy steel plate mill.
- 2017: Press reports indicated that purchase of the Tata Steel specialty businesses by Sanjeev Gupta was for a consideration of GBP £100 million.
- 2017: The main output from the Hartlepool mills is submerged arc welded (SAW) pipe. The facilities mainly produce 42-inch and 84-inch pipe.
- 2017: OneSteel purchase actually involved acquisition of the former Arrium Mining and Arrium Steel businesses, including Australia's leading steel manufacturer and distributor, OneSteel. The acquisition also included some of Australia's leading businesses such as the Australian Reinforcing Company (ARC), Austube Mills and Emrails, and product brands such as Waratah and Cyclone.
- 2018: Georgetown Steel, based in Georgetown, South Carolina. was founded in 1969 by German industrialist Willy Korf. With up to 1500 employees at its peak, the firm had multiple owners including the government of Kuwait in 1984 and the International Steel Group in 2004. In 2005 Georgetown Steel was bought by Lakshmi Mittal. The mill closed in 2009, and following the Mittal merger with Arcelor it was reopened again in 2011, only to be closed in mid-2015. The facility has a 600,000-sq-ft production plant, with wire rod capacity of ~680000 tonnes.
- 2018: Adhunik Metaliks is an integrated steel producer located in Chadrihariharpur near Rourkela in Odisha in eastern India. Creditor approvals for the purchase of this business by Liberty House Group's Sanjeev Gupta were obtained in july 2018.
- 2018: Arcelor Mittal Galati plant in Romania, and ArcelorMittal Nova Hut plant in Ostrava Czech Republic, named as facilities to be purchased around end-2018 by GFG.
- 2018: Purchase of US steel wire producer Keystone Consolidated Industries from Contran was for a consideration of $320m.
- 2018: The British industrialist reportedly made an approach to buy Stemcor (one of the largest independent steel traders) in December 2018 - from investors including the US private equity house Apollo.
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