Liberty Galati reaffirms investment plans in Romania

2021-04-23

Apr. 23, 2021 - Romanian Ziarul Financiar reported that GFG’s Executive Director & Liberty Galati board member Mr Ajay Aggarwal said that all investment plans at the Galati plant remain standing and that the group's current situation is now under financial pressure, it will not affect the activity at Liberty Galati. He old ZF "Our blast furnace and steel production has reached record weekly and monthly volumes in recent months. We are confident that we will overcome the difficulty faced by the GFG Alliance due to the placement in judicial administration of its main financial provider. However, it is important to note that Liberty Galati is a viable and profitable unit, which has increased its production compared to last year, which is able to deliver quality steel and produce the necessary financing for its regular operations and projects.”

Mr Aggarwal pointed out several times that the activity in Galati is not affected by the external situation of the group. He said that “Liberty Galati will keep its workforce, expand its production capacity this year and all investment plans remain in place. The team from Galaţi focuses on our efforts to increase production, deliver products to customers on time and at the required quality. There is no intention to reduce the number of jobs and wages are paid without delay.”

He added “We are constantly discussing with our suppliers any issues we may face and, fortunately, they see working with us as a long-term partnership. As with any large business some issues may occasionally arise, but where appropriate, we have worked together to resolve them and move forward together. The current situation of our main financier did not affect our working capital capabilities.”