CELSA Group approves a capital increase to drive efficiency and strategic growth
Barcelona, 28th October 2024.- CELSA STEEL, S.A., the parent company of the CELSA Group, announced today that its General Shareholders’ Meeting has approved a capital increase of €166 million to fund a comprehensive efficiency and growth initiative.
The capital increase will be implemented in two phases. The first phase, amounting to €81 million, will be directed towards investments and improvements within Spain through Barna Steel, S.A. The remaining €85 million will be allocated in a subsequent phase to enhance operations across the Group’s subsidiaries in Poland, Norway, and Great Britain.
With this capital increase, CELSA Group will embark on a Value Creation Plan, featuring targeted initiatives and investments to boost competitiveness in key areas such as Commercial, Logistics, Procurement, Production, and Manufacturing. These efforts are expected to yield substantial returns, reinforcing CELSA’s strategic position and operational strength.
This plan, developed in collaboration with Bain & Company, will be financed by the capital increase and will complement CELSA’s ongoing investment program, further securing the Group’s future in a competitive global market.
About Celsa Group
Celsa Group is Europe’s first low-emission circular steel producer with the largest circular supply chain in Europe. It recycles ferrous scrap to produce steel in electric arc furnaces, using the most sustainable and energy-efficient technology.
The company is made up of several business groups and has 120 work centres, 7 steel mills, 12 rolling mills and 48 recycling plants (circular hubs), as well as processing and distribution companies, which generate direct, indirect and induced employment for more than 70,000 professionals in Europe. It is present in Spain, France, the United Kingdom, Denmark, Finland, Norway, Poland, Sweden and Ireland.
The group works to solve the planet’s greatest systemic risks: resource depletion and the fight against climate change. To this end, it has set itself the objectives of reducing its CO2 emissions by 50% and reaching 98% circularity by 2030 and completing its circularity and becoming a Net Positive company by 2050.
For more information:
Nuria Jimenez
Tel. +34 693 33 80 47
njimenez@kreab.com
