Steel Mills
Rumors of Potential Buyers for US Steel Kosice
Written by Sandy Williams
July 27, 2016
US Steel Kosice, located in Slovakia, is attracting attention from Chinese, Russian and South Korean investors according to a report by BNE Intellinews.
The steelworks is Slovakia’s biggest employer in an area of high unemployment. Local media outlet SME said analysts are suggesting the mill may be taken over by South Korean steel mill POSCO which has an established relationship with US Steel.
US Steel considered selling Kosice three years ago but decided to keep the plant after receiving incentives from the government. According to BNE Intellinews, US Steel has been in contentious flights with the union and government regarding its plans for the plant.
Intellinews reported thee Slovak government said in May it would consider buying a stake in the plant if US Steel seeks an exit by “selling to a ‘non-standard’ owner.”
SME reported that Russia’s Metallaoinvest group and an unnamed Chinese company have shown interest in the Kosice plant as well as POSCO.
US Steel reported a strong performance for its European segment in Q2 with capacity utilization at 101 percent.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.
August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.
Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.
ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.