Liberty Galati in early March announced it would enter an agreement with creditors amid political upheaval, the new tariffs imposed by the US over steel imports and the lack of real steel industry protection moves at EU level, considering this is the best form to stabilize its business.
The main steel producer in Romania has 4,500 employees, a liquid steel production capacity of 3 million tons per annum and a turnover that can reach RON7 billion per year.
In 2023, the compound had RON3.7 billion turnover and RON2.3 billion total losses.
Liberty Galati had RON3 billion liabilities at end-2023.
(English version by Catalina Apostoiu)