Hungarian manufacturer Dunaferr is currently restarting its second blast furnace and steel plant. Liberty Steel has signed a consultancy services agreement to ensure the business continuity of Hungarian Dunaferr.
Dunaferr supplies coke to the plant to keep its blast furnaces running. The furnace was restarted with the use of raw materials available on site, but according to union sources, the raw materials will soon be exhausted.
The Hungarian government pays salaries to Dunaferr workers and guarantees the supply of electricity to help resume work.
Liberty Steel also had its own financial problems for a while. The company was forced to close three of its UK operations last month due to weak markets and high energy costs.
The company is expected to restart its blast furnace at its Galati plant in Hungary in the coming weeks after the only plant in operation closed late last year.
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