Market Segment
Esmark Steel Negotiating for Serbian Steel Mill
Written by Sandy Williams
September 10, 2014
Esmark Steel Group is continuing to pursue the purchase of Serbian steel mill Zelezara Smederevo but is waiting for sale or lease approval by the Serbian government. A spokesperson for Esmark said the company is returning to Serbia next week for continued negotiations and expects the government to announce the final bidders at that time.
Smederevo Steel works was sold to US Steel in 2003 for $23 million and was a major exporter of steel until 2012 when the Serbian government repurchased the company for $1.00.
“We are doing our best to find a solution and a strategic partner for Smederevo steelworks, which creates huge losses for the country,” said Serbian Prime MinisterAleksandar Vucic.
“We are ready to help anyone who would take over Zelezara steelworks as it is not only the interest of 5,200 families in Smederevo whose members work there, but of the entire Serbia,” added Vucic.
Sandy Williams
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