Alan Svoboda, CEO of Sev.en Global Investments, commented on the acquisition: “The steel industry is a key pillar of our growth strategy. We are thrilled to conclude this groundbreaking agreement. This acquisition strengthens our position in the European market and allows us to enter the promising Scandinavian markets. Furthermore, the production of green steel represents a significant step forward for Sev.en GI in terms of sustainability.” However, Sev.en did not provide specific details about its definition of “green” steel.
The acquired companies, both operating electric arc furnaces to process steel scrap, are regarded as technological leaders in Europe. Celsa Steel UK, based in Cardiff, is the largest steel recycling company in the UK, with an annual production capacity of 1.2 million tonnes of construction steel. Celsa Nordic, operating in Norway, Finland, Sweden, and Denmark, has a fully integrated production chain—from scrap collection and processing to the manufacture of finished steel products for the construction sector—powered by renewable hydropower.
“Both facilities are among the most technologically advanced and leading green steel producers in Europe. We look forward to working closely with their management teams and stakeholders to further develop these assets and unlock their long-term potential,” Svoboda added.
He further emphasized: “We are constantly seeking new growth opportunities across all our core industries globally. The inclusion of the steel industry in our portfolio marks a significant milestone.” Sev.en Global Investments’ diversified portfolio also includes coal mines in Australia and the USA, as well as power plants.
Source: Celsa Steel
