Industrialist Sanjeev Gupta's Liberty House, part of the GFG Alliance, is to acquire Europe's largest aluminium smelter in Dunkerque, France, kick-starting a major expansion by the company into mainland Europe. Liberty House will now begin a consultation process with those employees, along with the European Works Council and stakeholders, and ultimately plans to expand the site and create thousands more jobs, at the site itself and more widely. This is driven by the trend towards lighter-weight vehicles with a lower carbon footprint. Aluminium Dunkerque has a high-quality aluminium operation benefitting from a top-class workforce and management. "This will be our key strength when embarking on our ambitious plans", he said in a statement.
"We want to develop the plant into an global centre of aluminium and downstream aluminium products expertise", Gupta said in the statement.
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Gupta added: "This investment will help fulfill our ambitions in the sector, further enabling us to capitalize fully on expected growth in demand for aluminum over the coming years". Rio Tinto appears to be in favor of.
Last year, the privately-owned GFG Alliance struck a deal with UK-based tidalpower firm Atlantis Resources to form a listed company, SIMEC Atlantis Energy, that marked Gupta's first step onto the stock market.
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"We are particularly attracted by the pro-business environment that President [Emmanuel] Macron's France is quickly building. Liberty House has a track record of investing in similar assets, which should secure a long-term sustainable future for Aluminium Dunkerque and continued economic benefit for the wider community".
The Dunkerque acquisition will further build Liberty House's aluminium base in Europe, following its acquisition in December 2016 of Rio Tinto's aluminium smelter in Lochaber, Scotland, in which it is now investing 120 million pounds.
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