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Sanjeev Gupta

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Sanjeev Kumar Gupta
Born27 September 1972
Ludhiana, Punjab, India
Other namesSKG
OccupationFounder of Liberty House Group
Years active1992–present
SpouseNicola Gupta
Children3
ParentParduman K Gupta

Sanjeev Kumar Gupta is an international businessman and entrepreneur who founded the Liberty House Group at age 20 while studying for his MA in Economics and Management[1] at the University of Cambridge.[2] He is currently the Executive Chairman of Liberty House[1] which has a turnover of nearly $7 billion (2017) and leads the GFG (Gupta Family Group) Alliance (2017 turnover of $9.4 billion). He has been dubbed the man who can save[3] the British steel industry[4] through an innovative approach called GREENSTEEL[5] and has since been working to apply this model of operation to other countries - recently Australia[6] and the USA.[7]

Early life

Gupta was born in Ludhiana, Punjab,[8] India and is the third of four children of Parduman K Gupta[9] who founded the SIMEC Group. Both his father and grandfather were industrialists and business men. At age 13 he was enrolled at St Edmund's School, Canterbury, UK. After completing his A-levels he spent 2 years selling bicycles in Turkey before enrolling to study Economics at Trinity College, Cambridge.[2] It is there that in February 1992 he founded the Liberty House Group, today an international industrials and metals group which has global headquarters in London[10] and hubs in Dubai, Singapore and Hong Kong.[11]

Career

Trading roots

Initially, Liberty House traded steel to rice and sugar, FMCG, engineering and other goods[9] as a part of the family business but it soon diversified into specific commodities and brought together the trading business under three categories—steel, chemicals, and agriculture.[9] In 2009, it entered steel making, buying plants in Africa. A year later in 2010, it was in Asia, setting up the regional headquarters in Singapore and a hub in Hong Kong in 2012 to focus on China.

Industrial expansion

In 2013, Liberty House Group entered the UK through the purchase of Mir Steel UK (previously Aphasteel),[12] a steel mill in Newport, South Wales, stopping it from being shut down. The business was formally re-launched as Liberty Steel Newport in October 2015. In the two and a half years leading up to the re-opening Gupta kept the entire 150 people workforce[13] on half-pay while he tried to get the mothballed site operating again. During this time they did not have to come to work and could take other jobs.[12] Liberty Steel Newport produces hot rolled coil (HRC) for the following industries: construction, automotive, pipes and tubes, structural hollow sections, highway, yellow goods, materials-handling and power.[14]

In November[15] and December 2015[16] Gupta purchased from administration the UK assets and business of the former Caparo Industries Plc, saving over 1,000 jobs primarily in the West Midlands.

In March 2016 Liberty House reached an agreement for the purchase of the last two previously mothballed steel manufacturing sites in Scotland from Tata Steel UK. The deal, which was brokered by the Scottish Government, was completed on 28 April 2016 when Liberty formally acquired the Clydebridge and Dalzell steel mills. The Dalzell site which manufactures steel plate was re-launched on 28 September 2016 by Scotland's First Minister Nicola Sturgeon.[17]

In April 2016 when Tata Steel UK announced its intention to sell its UK based operations, Gupta launched a daring bid for the business,[18] and launched Liberty House's GREENSTEEL strategy.[5]

In October 2016 Liberty House launched its steel recycling division called Liberty Metals Recycling.[19]

On 28 November 2016 Liberty House entered in exclusive negotiations with Tata Steel UK for the acquisition of its Speciality Steels business[20] based in West Yorkshire and China. In February 2017 Tata Steel UK and Liberty House signed an exclusive agreement on the purchase, and the deal was finally completed on 30 April 2017.[21] The acquisition saved 1,700 jobs across sites in Rotherham, Stocksbridge and Brinsworth, Bolton and Wednesbury.

In late May 2017 Gupta announced the launch of a new financial arm of the GFG Alliance called Wyelands Capital focused on the growth of British Industry.

Awards and recognition

In May 2017 Sanjeev Gupta won CEO of the year at the Platts Global Metals Awards held at the Marriott Grosvenor Place in London.[22]

See also

References

  1. ^ a b "Sanjeev Gupta - Liberty House Group". www.libertyhousegroup.com. Retrieved 25 May 2017.
  2. ^ a b Doshi, Vidhi (6 April 2016). "Sanjeev Gupta: from college dorm deals to UK steel's great hope". The Guardian. Retrieved 10 April 2016.
  3. ^ qz.com, Manu Balachandran,. "UK's 'Man of Steel': A tycoon from Punjab swam against the tide to rescue British steel industry". Scroll.in. Retrieved 30 May 2017.{{cite news}}: CS1 maint: extra punctuation (link) CS1 maint: multiple names: authors list (link)
  4. ^ "Is this the man who can save Britain's steel industry?". The Telegraph. Retrieved 25 May 2017.
  5. ^ a b "GREENSTEEL: A brighter future for UK Steel". www.libertyhousegroup.com. Retrieved 25 May 2017.
  6. ^ "The Australian". The Australian. 20 May 2017. {{cite news}}: Cite has empty unknown parameter: |dead-url= (help)
  7. ^ "Liberty House to buy ArcelorMittal's U.S. Georgetown steel plant". Reuters. 21 April 2017. Retrieved 25 May 2017.
  8. ^ Ford, Jonathan (8 April 2016). "Sanjeev Gupta – the trader aspiring to be a steel baron". Financial Times. Retrieved 10 April 2016.
  9. ^ a b c Balachandran, Manu. "The tycoon from Punjab who swam against the tide to rescue the British steel industry". Quartz. Retrieved 25 May 2017.
  10. ^ "Company Overview of Liberty House Ltd". Bloomberg. Bloomberg. Retrieved 10 April 2016.
  11. ^ "Company - Liberty House Group". www.libertyhousegroup.com. Retrieved 25 May 2017.
  12. ^ a b Meechan, Brian (12 April 2016). "Tata Steel UK sale: Who is Sanjeev Gupta?". BBC News. Retrieved 25 May 2017.
  13. ^ Meechan, Brian (16 October 2015). "Liberty steelworks in Newport reopens after two years". BBC News. Retrieved 25 May 2017.
  14. ^ "Liberty Steel Newport - Liberty House Group". www.libertyhousegroup.com. Retrieved 25 May 2017.
  15. ^ "Liberty saves 350 jobs after Caparo steel empire topples". Telegraph.co.uk. Retrieved 25 May 2017.
  16. ^ Kelsey, Chris (11 December 2015). "More steel jobs saved as Guptas buy remaining Caparo businesses". walesonline. Retrieved 25 May 2017.
  17. ^ "'Last' Scottish steelworks at Dalzell plant in Motherwell formally reopens". BBC News. 28 September 2016. Retrieved 25 May 2017.
  18. ^ "Sanjeev Gupta's firm Liberty to bid for Tata Steel's Port Talbot unit today". The Economic Times. Retrieved 25 May 2017.
  19. ^ "Liberty Group targets UK scrap metal market - letsrecycle.com". letsrecycle.com. Retrieved 25 May 2017.
  20. ^ Ruddick, Graham (28 November 2016). "Tata to sell UK speciality steels business in £100m deal". The Guardian. ISSN 0261-3077. Retrieved 25 May 2017.
  21. ^ Monaghan, Angela (2 May 2017). "Tata deal with Liberty House saves 1,700 UK steel jobs". The Guardian. ISSN 0261-3077. Retrieved 25 May 2017.
  22. ^ "Platts 2017 Global Metals Awards--Winners". gma.platts.com. Retrieved 25 May 2017.
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