.jpg?lang=en-US&ext=.jpg)
Post-Gazette: Slovakia Says Deal May Be Near for U. S. Steel Plant
03/25/2013 - Slovakia's prime minister said today he is close to finalizing a deal that will maintain U.S. Steel's ownership of one of the Eastern European country's largest employers, the Pittsburgh Post-Gazette reports.
Slovakia's prime minister said today he is close to finalizing a deal that will maintain U.S. Steel's ownership of one of the Eastern European country's largest employers.
The Pittsburgh steel producer disclosed in November it was considering offers for its mill in Kosice in eastern Slovakia. The company acquired the formerly government-owned steelmaker in 2003 for $475 million. The plant can produce 5 million tons of sheet steel annually for the automotive industry and other customers.
The talks occurred today at U.S. Steel's Grant Street headquarters.
They took place as U.S. Steel faces an investment of $400 million over the next several years to bring the plant into compliance with environmental regulations. Europe's continuing economic woes, which prompted U.S. Steel to sell its troubled Serbian plant to the government for $1 in January 2012, also remain an issue.
"We are on the right track," Prime Minister Robert Fico said in a statement released by his government...
Click here to continue reading this article from the Pittsburgh Post-Gazette.
