CORPORATE NEWS

VSŽ interested in privatizating steel mill in Hungary

VSŽ, a steel mill located in Košice, intends to purchase the poorly performing engineering company Digép in Diosgyör, and, together with this company, then privatize the Hungarian steel mill in Ózda, said the trade director of the Hungarian Association of the Iron and Steel Industry, József Zambó. This step culminates VSŽ's long-term effort to strengthen its position in Hungary, Zambó said. Now, VSŽ exports to Hungary are limited by a 1994 agreement that limits exports to 50,000 tons of steel annually. Ladislav Jakubec, chief of VSŽ's press department, said: "VSŽ has some activities in Hungary. However, no decisions have been made so far."

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