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Liberty House eying steel and aluminium assets in the UAE - Mr David Dawson-2019 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
12/24/2018 钣金展-Laser Equipment, Sheet Metal Industry expo |
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The National reported that Liberty House is in talks to snap up steel and aluminium assets in the UAE as it looks to expand its Middle East presence. Mr David Dawson CEO of Liberty House Industries said “We are significantly advanced on two particular acquisitions and hope to make some announcement in the next year. We are keen to establish our industrial presence in the Middle East and what we are really doing in many ways is replicating our global strategy.”
Mr Dawson said “Liberty House Industries expects its revenue to grow up to 20 per cent next year in the region if the acquisition in the UAE is finalised. Despite some market challenges around the region, we have shown good growth in 2018 and we are looking at further growth in 2019. The UAE is an area where we can see sustainable growth for the long-term and that is what drives us as an organisation.”
The London conglomerate is expanding aggressively in the steel and aluminium business from India to Luxembourg.
In November, the company agreed to acquire three steel plants from ArcelorMittal two in Belgium and one in Luxembourg. In October, it agreed to further buy four steel facilities from ArcelorMittal in Romania, Czech Republic, Macedonia and Italy.
In November, the company completed the purchase of a French smelter, Aluminium Dunkerque, which is Europe’s biggest producer of lightweight metal from Rio Tinto.
In 2017, Liberty acquired a speciality steel operation from Tata Steel UK
It also has facilities in Australia and the United States.
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