Leading Steel Producer Resumes Operations at Rolling Mills
Liberty Dunaújváros, also known as Dunaferr, the largest steel producer in Hungary, has resumed its operations after the company was acquired by Liberty Steel of India. The steel giant has restarted its rolling mills and galvanizing line for galvanized sheet production.
The restart of operations is the first step in the company’s renewal process under its new ownership. According to Ajay Aggarwal, the European President of Liberty Steel Group, the restart is a positive development not only for the company and its employees but also for the whole of Dunaújváros, a city in central Hungary.
As part of the optimization program, the company is working towards reducing unnecessary operating costs and utilizing fewer external services. The restructuring process will also involve keeping all employees, paying their salaries as usual, and offering retraining courses to prepare them for operating the planned modern electric furnace.
Liberty Dunaújváros is a part of the Liberty Steel Group, which has a globally integrated steel business. With a global turnover of USD 11 billion, the group operates over twenty million tons of rolling capacity across more than two hundred production sites in 13 countries, employing around 28,000 people.
Last August, Liberty Steel of India won the tender to acquire the steel assets of Dunaferr, which was in liquidation following a conflict between its Russian and Ukrainian owners. The European Union approved the change of ownership in October 2023, preventing the company from going out of business.
The revival of Liberty Dunaújváros signifies a new chapter for the steel giant and is expected to have a positive impact on the local economy and community. The company’s renewed operations will contribute to the stability and continued development of Dunaújváros as a key industrial hub in Hungary.
