LNM begins privatization talks over Polish Steel Mills

International steel concern, the LNM Group intends to buy shares in the financially troubled Polish Steel Mills (PHS). LNM's representatives arrived in Warsaw yesterday to talk about a possible privatization deal with the government. "As part of our development strategy, PHS would become a major producer of steel products and steel in Central and Eastern Europe," said the Group's chairman Lakshmi N. Mittal. The concern first would seek to ensure the financial recovery of PHS through helping PHS regain its position on the domestic market, and at the same time expand Polish Steel Mill's cooperation with LNM partners to develop exports through their international network. LNM is experienced in taking over troubled steelworks: it has bought steelworks in Rumania, Algeria and South Africa during the last two years. Other companies interested in the privatization of PHS include Arcelor, American US Steel and German Thyssen Krupp Stahl. (Rzeczpospolita, p. B1) M.T.