March 8 (Reuters) - GFG Alliance, a conglomerate owned by the family of British tycoon Sanjeev Gupta, is one of the biggest customers of Greensill Capital, a source familiar with the matter told Reuters.
Greensill, which said last week it is in talks to sell large parts of its business, is preparing to file for bankruptcy, three sources familiar with the situation have told Reuters.
Last week, GFG Alliance said it had alternative funders to Greensill and that it was generating positive cash flow.
“GFG Alliance has adequate current funds and its plans to bring in fresh capital through refinancing are progressing well,” spokesman Andrew Mitchell told Reuters.
GFG Alliance says it employs 35,000 people worldwide and has annual revenues of $20 billion. Below is a summary of its commodity assets, mostly steel and aluminium operations, based on the group’s websites.
LIBERTY STEEL GROUP
The group says it has total rolling capacity of 20 million tonnes, but does not provide production data. At full capacity, it would be the world’s 16th largest steel producer based on World Steel Association 2019 output data.
Britain - Liberty is the third largest steel maker in the country, with nine sites employing about 3,000 people and nearly 3 million tonnes of annual rolling capacity.
Continental Europe - With seven steelworks and five service centres, Liberty employs more than 14,000 people and has annual rolling capacity of 10 million tonnes in the Czech Republic, Romania, France, Belgium, Luxembourg, Italy and North Macedonia.
Australia - Liberty has nearly 6,500 workers at more than 170 sites and annual rolling capacity of 2.5 million tonnes.
United States - Its 16 locations employ 1,500 people and it has 2 million tonnes of annual rolling capacity.
Britain - Alvance operates the country’s only aluminium smelter at Fort William, Scotland, with a production capacity of 40,000 tonnes a year and 200 employees.
France - Plant in Dunkirk is the largest primary aluminium smelter in Europe, producing 284,000 tonnes and employing 550 people in 2018. Alvance also has castings plant in Poitou and auto wheel plant in Diors.
Belgium - Alvance’s recycling and rolling mill in Duffel produces about 200,000 tonnes of high-value aluminium rolled products and employs about 1,000 people.
Liberty has a commodities business with a headquarters in London and presence in 30 countries trading ferrous materials such as iron ore, coking coal and steel, plus non-ferrous metals such as nickel, zinc, copper and aluminium.
(Reporting by Eric Onstad; Editing by Alexander Smith)