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Metinvest said mulling U.S. Steel Košice buy

Keywords: Tags  Metinvest, U.S. Steel Kosice, Evraz, European Union, Christopher Rivituso


LONDON — Ukrainian steelmaking group Metinvest is considering acquiring Slovak flats producer U.S. Steel Košice SRO, a source close to Metinvest told AMM sister publication Steel First.

The company is taking several factors into consideration, including the market’s prospects in Europe, the source said. He declined to provide further details.

A spokesman for U.S. Steel Košice declined to give details about the company’s attempts to sell the plant, although previously it said it had received expressions of interest (amm.com, Nov. 14). At the time, a Slovak business publication listed Donetsk, Ukraine-based Metinvest and London-based Evraz Plc as interested parties, but Evraz declined to comment and Metinvest would neither confirm nor deny its interest.

A weak European steel market, plus the European Union’s imposition of tighter environmental regulations, prompted Pittsburgh-based U.S. Steel Corp. to consider selling the plant.

Slovak government officials would not confirm late in 2012 that the administration would offer new concessions to U.S. Steel if it decided to remain in the country.

The Košice operation has a capacity to produce 4.4 million tonnes of crude steel per year. It can cast slab and roll hot- and cold-rolled coil for the automotive and white goods sectors. The plant also produces value-added products, including hot-dipped galvanized sheet, tinplate, color-coated steel and spiral-welded pipe.

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


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