European consortium plans long-term development of Poland's steel sector

A consortium consisting of four Western European steel-makers, Usinor of France, Arbed of Luxembourg, and Salzgitter AG and Thyssen Krupp of Germany, has placed an offer with the Treasury Ministry to purchase four Polish steel mills. The investors are interested in the Katowice, Cedler, Sendzimira and Florian mills, which together account for some 70% of Poland's steel output. The consortium said in a statement, "Considering that Eastern Europe is a key growth market for steel, the consortium foresees specific investment programs to restructure and develop the four factories to ensure the long-term competitiveness of Poland's steel industry." The statement also said the consortium is confident its offer will meet the expectations of the government. (Gazeta Wyborcza, p. 20; Rzeczpospolita, p. B2; Reuters) M.T.K.