US Steel grows tired of privatization runaround

US Steel is demanding an acceleration of Polish Steel's (PHS) privatization. "The Polish government has to select an investor very quickly. PHS is in a very bad condition, however, the situation on the world steel market is quite optimistic. Lingering with the privatization means we are loosing precious time. We are tired of this process," said deputy president of US Steel John H. Goodish. He is also worried that PHS might turn out to be a pig in a poke. "The Polish government has informed us that PHS intends to sign new contracts on transferring the steel assets to the Industrial Development Agency (ARP). This transfer was taken into consideration only if PHS does not find an investor. If the privatization comes to fruition the transfer will not be necessary. We have also learnt that the government is planning to exclude the coking plant from PHS. We have already sent our protest on the issue," said Goodish. (Puls Biznesu, p. 11) A.Z.