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Esmark mulling interest in USS' former mill

Keywords: Tags  steel, Esmark Steel Group, Železara Smederevo, Serbia, Bojan Bojkovic, U.S. Steel, mergers, acquisitions steel


CHICAGO — Esmark Steel Group LLC is conducting due diligence at Železara Smederevo d.o.o., U.S. Steel Corp.’s former operations in Serbia, an executive at the Serbian mill said, noting that company representatives recently visited the facility.

Chicago Heights, Ill.-based Esmark Steel Group is "interested in some way of cooperation with steel mill Smederevo," Bojan Bojkovic, financial director of Železara Smederevo and a member of a Serbian government working group formed to negotiate with potential strategic partners for the facility, told AMM. "Their representatives were present last week in the factory."

The working group was formed in May, according to the government’s website.

A spokesman for Esmark Steel Group declined to comment.

U.S. Steel, Pittsburgh, sold the mill to the Serbian government in 2012 for $1 (amm.com, Jan. 27, 2012). The government subsequently began seeking a buyer (amm.com, April 6, 2012).

Steel industry observers last year had questioned the government’s plans to restart the mill after a Russian company failed to place a bid for the flat-rolled products producer (amm.com, March 5, 2013).

Železara Smederevo has two blast furnaces and three basic oxygen convertors that can produce 2.2 million tonnes of crude steel annually to be cast into slab and subsequently rolled into hot- and cold-rolled coil. The plant can also produce tinplate at its Sabac Works.


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