Moravia Steel eyes US plant

By OTHERS
January 06, 2016

Reuters

Bratislava

Czech steelmaker Moravia Steel is eying the Slovak branch of United States Steel Corp (X.N) and the two sides have already had talks, newspaper Hospodarske Noviny reported on Thursday, citing unnamed sources.

U.S. Steel Kosice is the biggest employer in the country of 5.4 million, employing 12,000. It considered a sale three years ago before the state offered annual incentives worth up to 15 million euros ($16.46 million) for 15 years.

Moravia Steel spokeswoman Petra Juraskova and U.S. Steel Kosice spokesman Jan Baca declined to comment on the report.

The Slovak steel company reported a net profit of 17 million euros last year after a 369 million euro loss in 2013.

Meanwhile, Taiwan Semiconductor Manufacturing Co Ltd says orders machinery equipment worth T$1.4 billion ($42.28 million).