The LCGB trade union has voiced its concerns over the consequences of the announced bankruptcy of specialist bank Greensill Capital for jobs in Luxembourg.
On Monday, Greensill Capital, the main lender of GFG Alliance, filed for administration. GFG Alliance includes Liberty Steel, the UK company which acquired the Dudelange site from ArcelorMittal in 2018. Following this announcement, the LCGB, the majority union on the Liberty Dudelange site, has contacted the company's management.
The union had already planned to request an urgent meeting with the European Directorate-General; this request will be brought forward accordingly to this announcement.
In a statement released on Wednesday, the LCGB expressed concerns not only over the potential consequences of this announcement for the financial health of the company but also its impact on the behaviour of its suppliers and customers.
The LCGB has demanded clear explanations and guarantees regarding a possible risk to the use of the Dudelange site. The union added that, at the end of the negotiation of the tripartite steel agreement, it had also sent a letter dated 20 January 2020 to the Ministers of the Economy and Labour in order to inform them of the difficult situation that the site was going through and which could deteriorate.
