US Steel Košice announces Sk 5 billion investment in 2002

STEEL maker US Steel Košice plans capital investments of more than Sk 5 billion in 2002.
The completion of a vacuum degassing unit planned for April is one of the major investment projects in the pipeline. A second continual annealing line and an electrolytic tinning line projects have also started, both projects should be completed this year.
Vice president for technology John Pavia revealed the company's investment plans at a meeting of the company's management with employees last week.

STEEL maker US Steel Košice plans capital investments of more than Sk 5 billion in 2002.

The completion of a vacuum degassing unit planned for April is one of the major investment projects in the pipeline. A second continual annealing line and an electrolytic tinning line projects have also started, both projects should be completed this year.

Vice president for technology John Pavia revealed the company's investment plans at a meeting of the company's management with employees last week.

Since the arrival of the US steel maker in December 2000, investments have focused on technologies that enable manufacturing of products with higher added value. During next five years such projects should make up 59 per cent of total capital investments. Development of infrastructure is expected to swallow 25 percent.

US Steel has promised to invest $700 million (Sk33.4 billion) into the Košice plant over next ten years. US Steel currently employs 16,000 workers.

In 2001, investments reached Sk2.9 billion when U.S. Steel Košice completed three investment projects. Of that figure, 67 per cent went in development of manufacturing of sophisticated products.

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