Industrial expansion
In 2013, Liberty House Group entered the UK through the purchase of Mir Steel UK (previously Aphasteel),[9] a steel mill in Newport, South Wales, stopping it from being shut down. The business was formally re-launched as Liberty Steel Newport in October 2015.[10] In the two and a half years leading up to the re-opening Gupta kept the entire 150 people workforce[11] on half-pay while he tried to get the mothballed site operating again.[9] Liberty Steel Newport produces hot rolled coil (HRC) for the following industries: construction, automotive, pipes and tubes, structural hollow sections, highway, yellow goods, materials-handling and power.[12]
In November[13] and December 2015[14] Gupta purchased from administration the UK assets and business of the former Caparo Industries Plc, saving over 1,000 jobs primarily in the West Midlands.
In March 2016 Liberty House reached an agreement for the purchase of the last two previously mothballed steel manufacturing sites in Scotland from Tata Steel UK. The deal, which was brokered by the Scottish Government, was completed on 28 April 2016 when Liberty formally acquired the Clydebridge and Dalzell steel mills. The Dalzell site which manufactures steel plate was re-launched on 28 September 2016 by Scotland's First Minister Nicola Sturgeon.[15]
In April 2016 when Tata Steel UK announced its intention to sell its UK based operations, Gupta launched a daring bid for the business,[16] and launched Liberty House's Greensteel strategy.
In October 2016, Liberty House launched its steel recycling division called Liberty Metals Recycling.[17]
In November 2016, Gupta finalised the purchase of Tungsten Bank, and renamed it Wyelands Bank, after the country house estate Wyelands he owns near Chepstow.[18][19]
In November 2016 Liberty House entered into exclusive negotiations with Tata Steel UK for the acquisition of its speciality steels business[20] based in West Yorkshire and China. In February 2017 Tata Steel UK and Liberty House signed an agreement on the purchase, and the deal was completed in April 2017.[21] The acquisition saved 1,700 jobs across sites in Rotherham, Stocksbridge and Brinsworth, Bolton and Wednesbury.[22]
In December 2016, the Gupta-led GFG Alliance completed the acquisition of Britain's last aluminium smelter at Fort William in Lochaber, along with the hydro-power plants at Kinlochleven and Fort William.[23]
In August 2017, after it had entered voluntary administration,[24] Gupta's Liberty Steel acquired Australian iron and steelmaking business Arrium, which included the Whyalla Steelworks in South Australia.[25]
In December 2017, Gupta entered the US market by acquiring the Georgetown steelworks[26] and expanded the US presence by acquiring Export Metals in March 2018.[27] At the end of 2018, he purchased Keystone Consolidated Industries.[28]
During December 2018, Gupta acquired Aluminium Dunkerque,[29] the largest aluminium smelter in Europe. This followed the acquisition of AR Industries,[30] a French aluminium wheel manufacturer.
In April 2019, Gupta acquired a second bank which he renamed the Commonwealth Trade Bank.[31] He then doubled the GFG Alliance workforce in July 2019, by acquiring seven steelworks and five service centres across seven countries in continental Europe from ArcelorMittal.[32]
In October 2019, Gupta consolidated all his global steel businesses to form Liberty Steel Group, which he announced would aim to be the world's first carbon neutral company by 2030.[33] He extended that target to his aluminium businesses, which he grouped together to form ALVANCE Aluminium Group, which he announced in January 2020.[34]
Gupta has been dubbed the man who can save[35] the British steel industry[36] through an approach called Greensteel,[37] and has since been working to apply this model of operation to other countries, including Australia[38] and the United States.[39]
Having founded Liberty Steel Central Europe Holdings Pte. Ltd. in Singapore on 22 December 2022 he successfully bid[40] €55M on Dunaferr Steel Mill, Hungary's largest steel mill and became the new owner, adding Dunaferr to his portfolio.
