New hopes for Częstochowa Steel Mill following capital transfer

Centrala Zaopatrzenia Hutnictwa (CZH), a company specializing in trade of bulk materials and logistics, in which the Industrial Development Agency (ARP) controls a 66% stake, has granted financial aid to the ailing Częstochowa Steel Mill (HSC). CHZ's support was critical as HSC had troubles in obtaining further loans and therefore continuing its current activities. "CZH obtained a zł. 5 million loan from Bank Ochrony Środowiska (BOŚ). These funds will be transferred to HSC," said the head of CZH, Marian Bąk, adding that the company is seeking further loans which also be used to support the steel mill. An improving economic situation, as well as a new restructuring program, may act as a magnet to attract potential investors. "The mill's restructuring program is quite unique. It envisages the separation of the manufacturing and non-manufacturing divisions. The latter would become an industrial park and help create a regional investment fund," said the head o f ARP, Arkadiusz Krężel. (Puls Biznesu, p. 5) A.K.