Stalexport switches track to enter motorway management

Stalexport wants to focus on trade activities and manage a paid section of a freeway. Due to this, the company has disposed of almost all its production units. It also plans to sell its 90.6% stake in rolled steel producer Ferrostal Łabędy, for which it has already received three offers. "These are two domestic and one foreign investor. The transaction might be concluded by the end of the year, but we are interested in cash and not in exchanging assets. Due to this we are willing to wait for the best offer," said Stalexport's strategy office director Marek Cywiński. He stressed that the financial condition of Ferrostal, which was posting losses for the past few years, has recently improved. "For a few months the company has been recording profits and this means it has managed to end a difficult period in its history," added Cywiński. According to Parkiet, Stalexport is planning to receive a higher price for Ferrostal than its balance value of zł. 52 million. (Parkiet, p. 3) M.M.