U.S. Steel to acquire Serbian steel company. (Metal Industry News)
Metal Center News, May, 2003
U.S. Steel Balkan d.o.o., a wholly owned Serbian subsidiary of U.S. Steel Corp., agreed April 1 to purchase out of bankruptcy Serbian steel producer Sartid a.d. and six of its subsidiaries for $23 million.
The purchases, targeted for completion during the third quarter, are subject to an anti-monopoly review by competition authorities in several countries.
John Goodish, U.S. Steel executive vice president for international and diversified businesses, says the company is confident it can transform Sartid into a profitable and competitive steel producer and a long-term contributor to the economic development, stability and success of Serbia and the communities in which Sartid operates.
"The acquisition will enhance U.S. Steel's ability to service its...
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