Arcelor leading the pack to buy attractive Huta Zawiercie

Publicly listed Impexmetal is drawing close to completing its plans to sell its 71% stake of steel mill Huta Zawiercie (HZ). According to unofficial information the sale may even take place in July. One of the potential investors is the French-Belgian Arcelor, which finalized the due diligence of the mill on May 10. The European concern has not officially announced plans to acquire the stake of one of the country's most profitable steel mills, however, sources close to the company confirmed that Arcelor is seriously considering the acquisition. HZ, which seems a lucrative investment, mainly because the size of production is not limited by EU norms, has more potential investors. These include the British-Dutch LNM, Ispat, and two domestic companies. HZ managed to record a Q1 profit of zł. 4.1 million with revenues of zł. 212.9 million. (Puls Biznesu, p. 3) A.K.