Mittal seeks to fulfill merger pre-condition

One of the three companies for which Mittal must find an investor is Huta Bankowa steelworks, which belongs to Mittal Steel Poland. "Besides Alchemia and Zlomrex, there are two foreign candidates [to invest in Huta Bankowa] - Celsa and Moravia Steel," said a sector representative. Celsa is a Spanish company which has a steel plant in Ostrowiec Swietokrzyski. Moravia, meanwhile, is a Czech company from the Huta Trzyniec group. It is still difficult to forecast which of the potential investors will win the bid since the issue of how the arrangement will benefit the workforce must be taken into consideration along with the price. However, if Mittal decided to sell these three assets - including the two located outside Poland - to one investor, the best chances belong to foreign manufacturers. (Puls Biznesu, p. 6) A.K.