Minister Malatinský: In short term, U.S. Steel looks promising

Negotiations with U.S. Steel are reaching the final stage. "We expect to conclude them successfully," Economy Minister Tomáš Malatinský said after a cabinet session on Wednesday, March 20.

Negotiations with U.S. Steel are reaching the final stage. "We expect to conclude them successfully," Economy Minister Tomáš Malatinský said after a cabinet session on Wednesday, March 20.

"Short-term, it looks very promising. I don't know about the long-term prospects, however. The American investor hasn't committed itself to anything yet in terms of the company's internal decisions, currently being made in Pittsburgh, on its course of action," Malatinský replied when asked whether the imminent departure from eastern Slovakia of the American steelmaker, announced late last year, had been averted.

On March 5, Prime Minister Robert Fico said that talks between representatives of the government and U.S. Steel Košice were about to terminate. He also emphasised that the government wanted the company to stay in Slovakia, because otherwise several thousand jobs would be put at risk in Košice. "I don't want to comment on any possible conclusions or results in advance, it wouldn't be right," he added, as quoted by the TASR newswire.

U.S. Steel was reported have decided to sell the giant steelworks in Košice because of increased costs for energy arising from new EU environmental regulations, which would require significant additional investment. Several firms are reported to be interested in buying the works.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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