Corus and Danieli invest in Huta Katowice

Corus and Danieli invest in Huta Katowice

The Treasury Minister approved a restructuring programme of the steel mill Huta Katowice, accepting investment offers made by the UK-Dutch group Corus and Italy's Danieli. Huta Katowice's privatisation will be conducted through spinning off parts of the company and creating subsidiaries with its foreign partners. The proceeds from the sale of the assets, together with revenues coming from these subsidiaries will be used to pay Huta Katowice's debt. Because of the heavy debts, no investors were interested in buying the mill directly. The management board of Huta Katowice has been permitted by the ministry to continue negotiations with Corus and Danieli concerning the details of the deals. Corus will participate in the production of long elements, while Danieli in integrated casting and rolling of metal sheets operations.

Źródło: IntelliNews Daily
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