Spectator on facebook

Spectator on facebook

BUSINESS SHORTS

Steel giant enters Orava metal company

INTERNATIONAL steel company ArcelorMittal has bought the Orava metallurgical plant of Slovakia’s OFZ company.

INTERNATIONAL steel company ArcelorMittal has bought the Orava metallurgical plant of Slovakia’s OFZ company.

The corporation announced on December 6 that it acquired the ferro-alloy (iron alloy) production of OFZ Istebné to strengthen its supply portfolio in that field. The amount of the deal was undisclosed, the Pravda daily wrote.

OFZ managers said they expect the addition of ArcelorMittal would help develop metallurgical production in the Orava region, the daily reported.

“In the past, there have already been plans to extend the production of ferro-alloys,” OFZ general director Vladimír Klocok told the daily.

AcelorMittal bought the whole OFZ plant in Široká. The steel giant will take over the plant only after the antirust bureaus of the countries where OFZ occupies significant shares of the market – Slovakia, the Czech Republic, Poland, Hungary, Bosnia and Serbia – greenlight the deal.

“Negotiations with ArcelorMittal about the acquisition of the OFZ ferro-alloy production started in May,” Klocok said. “ArcelorMittal also considered acquiring other ferro-alloy producers, but in the end it decided for OFZ as the best solution.”

OFZ is a major employer in the Orava region, employing more than 650 people with an average monthly wage of Sk25,300 (€760). Incorporating the plant into the world’s biggest steel producer should bring stability to the company, as well as the whole region, Klocok said.

Klocok estimates OFZ’s sales at about Sk4.5 billion this year. OFZ has an annual operating capacity of 150,000 tonnes, producing 141,000 tonnes of ferro-alloys in 2006.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Another For a Decent Slovakia protest was also joined by farmers

People took to the streets for the eighth time.

Farmers with tractors awaited the protesting crowd at the SNP Square in Bratislava.

Coronations return to Bratislava Photo

This year Bratislava will recall the coronation of Leopold II, the younger son of Maria Theresa.

Bratislava will again enjoy re-enactment of coronation ceremony

Police detain another person in promissory notes case

Ex-director of private broadcaster TV Markíza, Pavol Rusko, was detained shortly after being heard.

Pavol Rusko

Last Week in Slovakia: Farmers staged a protest by driving across the country Audio

Listen to all the headlines from The Slovak Spectator's news podcast.

Farmers also met President Andrej Kiska in Bratislava