Having obtained creditor protection, Czech Liberty Ostrava is now embarking on a restructuring of the company, which is owned by Liberty Steel's main shareholder Sanjeev Gupta. The company, which has been struggling with its last working blast furnace, which has been inactive since October due to poor market conditions, is based in the Eastern European city of Ostrava.
Despite having an annual capacity of 3.6 million tons, the company's current situation requires it to take steps to implement a preventive restructuring plan. As part of this plan, the priority is to restart blast furnace number three and increase production volumes.
The creditor protection will help the company complete and implement this preemptive restructuring plan. This step is expected to allow Liberty Ostrava to adapt more effectively to market conditions and build a sustainable future.