“Securing the Georgetown furnace and mill is a major milestone for us, marking our first major step in the USA,” said Liberty House executive chairman Sanjeev Gupta. “The melting and rolling facilities here give us a formidable entry to the American market and provide a strong platform for expansion.” 

The mill, which had belonged to ArcelorMittal, was closed in 2015 on account of increasing competition from domestic and foreign producers and high legacy costs. 

Gupta, however, said his company sees much potential for the facility, which includes a 540,000-ton  electric arc furnace and a 680,000-ton rod mill. 

“We’ve already had customers contacting us about placing orders, so we’re keen to get back up and running as quickly as possible,” Gupta said. “We look forward to rebuilding the business and bringing quality industrial employment back to the site and to the local and regional supply chain.” 

The company said it plans to rehire 125 former mill employees and increase the headcount to 250 over the medium term. Workers are organized under Local 7898 of the United Steelworkers union, and will be called back under terms of a new collective bargaining agreement. 

"We are very proud that USW members have this opportunity to go back to work with a fair contract that provides wages, pensions and benefits in line with the industry pattern," said Steelworkers’ District 9 Director Daniel Flippo. 

"Liberty's commitment to operate and invest in Georgetown shows great faith in our members, and we are dedicated to ensure that trust is rewarded," he said, adding that the company and the union established a good relationship during contract negotiations. 

American Metal Market reported that the mill is targeting 350,000 metric tons of production in the medium term and may look to later increase output.   

Liberty House consultant Gordon Spelich told the publication that the additional ramp up would depend on whether the mill is able to demonstrate consistent profits.