Ministry pushes ahead with PHS sale as another bidder prepares an offer
The Economy Ministry is pushing ahead with plans to consolidate the ailing
steel sector, as two potential bidders line up to buy a stake in the Polskie
Huty Stali (PHS) conglomerate. PHS, the result of the merger of four mills,
Katowice, Sendzimira, Cedler and Florian, is to begin operations by the end
of this year, according to deputy Economy Minister Edward Nowak. However,
the privatization process of PHS is well under way already, with Ispat, one
of the world's leading steel producers, granted exclusive negotiating rights
to acquire a controlling stake. Meanwhile, according to Nowak, another major
bidder, namely the so-called Eurokonsorcjum comprising Arbed of Luxembourg,
Usinor of France, and Germany's Thyssen Krupp Stahl, could place an offer in
October. (Puls Bzinesu, p. 11) T.J.
