Stalprodukt buys Czech plant for €40 mln

WSE-listed steel producer Stalprodukt signed a conditional purchase agreement to acquire 100 percent shares of the Czech GO Steel Frydek Mistek from ArcelorMittal, the company said in a market filing. The value of the transaction is €40 million. The entry into force of the contract depends on obtaining consent for concentration from the relevant antimonopoly offices in Germany, Austria, and Turkey. GO Steel Frydek Mistek produces transformer and cold-rolled sheets “This transaction will allow the company to strengthen its position on the transformer sheet market by increasing its production capacity to about 150,000 metric tons per year,” Stalprodukt said.