GFG Alliance Finance Crisis Jeopardizes $3.3 Billion in Steel and Aluminum Projects

Click on the image at right to view a map showing the GFG Alliance assets around the globe from Industrial Info's Key Account Locator.

The Key Account Locator is available to all subscribers to Industrial Info's Global Market Intelligence (GMI) database.

Many of these assets are operating under the Liberty Steel moniker or one of the company's many subsidiaries.

With the collapse of Greensill Capital, GFG is searching for financing options and was rejected by the U.K. parliament in a request for a 170 million-pound (US$238 million) government bailout for former British Steel assets.

There was some promising news last week, when GFG Alliance stated it had agreed to terms to refinance its Australian assets, which include steel and mining assets at Whyalla works in South Australia. It appears that GFG's acquisition roller coaster may switch gears and start to sell off of some of the company's underperforming assets to appease creditors and remain solvent.

GFG Alliance's subsidiaries are planning about 90 projects, totaling more than $3.3 billion in value, according to Industrial Info's Global Market Intelligence (GMI) project database. Many of those projects have been delayed and are in jeopardy of being canceled if GFG cannot solve its financing problems in the long-term. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here to view the project reports.

Click on the image at right to view a chart of GFG Alliance projects.

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