Celsa's president unveils his plans for Huta Ostrowiec

"The company needs urgent investments totalling zł. 70 million. Within the next four to five years these will rise to zł. 270 million," announced Francisco Rubiralta, Celsa President. The funds will primarily come from the company's own capital. Celsa purchased Huta Ostrowiec in late October last year for zł. 53.1 million and promised to invest zł. 380 million. The value of the mill's assets were estimated at zł. 235 million. "As for now, the employment guarantees are not endangered. However, we are rethinking our future policy on this issue," added Rubiralta. According to the original agreement, Celsa signed contracts with the 2,000 strong workforce, guaranteeing their jobs for 19 months. The Spanish company wants to make Huta Ostrowiec have the most diversified product portfolio of the entities within its group, announced the company President. (Puls Biznesu, p. 9) A.K.