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Investors interested in USS' Slovakian mill

Keywords: Tags  U.S. Steel Kosice, U.S. Steel, USSK, USS, tinplate, hit-dipped galvanized sheet, color-coated sheet, flat-rolled sheet Christopher Rivituso

LONDON — U.S. Steel Košice SRO (USSK) has received a number of expressions of interest in acquiring the mill, a spokesman for the Slovak flat steel producer confirmed to AMM sister publication Steel First.

Interest in the plant is likely due to its strong financial performance and strategic position, the spokesman said Wednesday.

"USSK has been, and continues to be, a successful investment for U.S. Steel Corp.," he said, and is well positioned to continue serving the growing central European markets of the Czech Republic, Hungary, Poland and Slovakia.

"U.S. Steel Corp. believes it is prudent to explore this interest in the context of its overall capital allocation, and in a way that maximizes returns to its shareholders," the spokesman said.

The integrated Košice plant in eastern Slovakia can produce 4.4 million tonnes of crude steel per year, which it casts into slabs for rolling into hot- and cold-rolled coil. The plant also produces welded pipe as well as value-added products, including tinplate, hot-dipped and electrolytic galvanized sheet, and color-coated steel.

The plant also serves as the western terminal of the Širokorozchodná trat broad-gauge rail line, which delivers iron ore directly from Ukraine.

A Slovak Ministry of Economy spokeswoman declined to comment, noting that the company is a privately held asset.

The U.S. Embassy in Slovakia is aware of the interest in USSK, a spokesman for the diplomatic mission told Steel First, although he declined further comment.

A version of this article was first published by AMM sister publication Steel First.

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