Q Why do governments across various countries support you?
A We support industry and support employment. In developed countries where industries are declining and people are unwilling to invest, we present the governments with a doable turnaround plan. We offer skilled workers an opportunity in these countries. Our belief is to bring industry back to the developed nations. And offer a more sustainable way of restructuring the companies.
Q How has Covid impacted your plants globally?
A There were a few cases across the globe in our plants. On the whole less than one per cent were infected. One of the reasons being that people working in industrial sites are used to adhering to safety norms. Adding an extra layer or two does not make any difference but provides them considerable protection.
Q Covid does not seem to have dimmed your appetite for takeovers. Do you have a big M&A team?
A We have a large M&A team in place and they are continuously scouting and evaluating opportunities. Our policy has been growth through acquisitions. We have closed a few deals in the last six months including two in France and one which is nearing closure in Spain.
Q Which are the likely regions offering opportunities?
A Outside of China, the steel industry is likely to see consolidation. In Europe there is a growing movement to change over from carbon steel to green steel. The old guard may not necessarily be the changemakers in the industry. It is no secret that some large companies in Europe are on the block. There are also quite a few small companies across the EU.
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Sanjeev Gupta, Founder, Liberty Steel
