Donbas does a deal
Donbas has been locked in a protracted battle with Mittal Steel for HC and now has the upper hand. Donbas agreed to 10-year job guarantees, one-off privatization bonuses and pay rises for all 5,500 workers at the plant and its subsidiaries.
The value of the package is estimated at zł.881 million.
Mittal Steel was originally the favorite to acquire HC, but the Polish government opened negotiations with Donbas after Mittal Steel failed to reach an agreement with unions. The plant, based in the southern city of Częstochowa, is Poland's main producer of heavy plates for the shipbuilding industry. Its annual capacity stands at 0.7 million tonnes.
Earlier, Treasury Minister Jacek Socha said Mittal Steel's bid zł.1.25 billion for the plant, about zł.140 million more than Donbas. Before starting final negotiations with the Ukrainians, the Treasury had asked Donbas to raise its bid.
Donbas hopes to buy the plant to expand its presence in the protected European Union market for one of Ukraine's top exports. Mittal Steel already owns Poland's top steel producer, controlling around 70 percent of the local production market. (Reuters)
The value of the package is estimated at zł.881 million.
Mittal Steel was originally the favorite to acquire HC, but the Polish government opened negotiations with Donbas after Mittal Steel failed to reach an agreement with unions. The plant, based in the southern city of Częstochowa, is Poland's main producer of heavy plates for the shipbuilding industry. Its annual capacity stands at 0.7 million tonnes.
Earlier, Treasury Minister Jacek Socha said Mittal Steel's bid zł.1.25 billion for the plant, about zł.140 million more than Donbas. Before starting final negotiations with the Ukrainians, the Treasury had asked Donbas to raise its bid.
Donbas hopes to buy the plant to expand its presence in the protected European Union market for one of Ukraine's top exports. Mittal Steel already owns Poland's top steel producer, controlling around 70 percent of the local production market. (Reuters)
