Tosyalı abandons the acquisition of Liberty Steel in Luxembourg

Employees of the Liberty Steel plant in Dudelange, Luxembourg, are once again in limbo as Turkish Tosyalı Holding, which planned to acquire the company, has officially withdrawn from the deal. This was announced on May 7 by the Ministry of Economy and Labor of Luxembourg, according to Paperjam.

“It’s catastrophic, it’s another blow to the 130 employees at the site. Previously, the workers had hoped to save production and jobs, but now the situation has changed dramatically,” said Stefano Araujo of the OGBL trade union.

Tosyalı was recognized as the best candidate for acquisition, with plans to invest, retain staff and develop the company. However, according to the government, the company has reconsidered its position due to changes in EU regulations on steel imports from third countries. These measures, which will be in effect until 2026, would have made it impossible for Tosyal to operate in Europe.

“This is the second time the European Commission has stood in the way: first, it forced ArcelorMittal to sell this plant to Liberty Steel, and now we are at a dead end again,” commented Robert Fornieri of the LCGB trade union.

According to the union, the worst situation is that of ordinary workers. Some of them have refused other job offers, waiting for the resumption of work in Dudelange. In addition, due to loopholes in the legislation, some employees still do not receive unemployment benefits.

In February 2025, it was reported that Tosyali is a potential buyer of Liberty Steel Dudelange in Luxembourg. The company has previously expressed interest in acquiring European steel companies.