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US Steel Košice announces $41 million profit

US Steel Košice has announced a profit of $41 million for the second quarter of 2001, the same profit it recorded in the first three months of the year; its mother corporation, USX - US Steel Group, lost $30 million in the second quarter.

The US firm last year acquired Slovak steel mill VSŽ, creating US Steel Košice. It has since then attracted other investors to the region, largely on direct supply contracts, and has promoted the east Slovak region as an investment destination in major European countries.

The city of Košice, in co-operation with US Steel Košice and a local technical university, said July 23 that it is building a 185 hectare industrial park with a total investment cost of one billion crowns.

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Jaromír Čižnár