Sewickley-based Esmark Inc. is still in talks to purchase United States Steel Corp.’s former operations in Serbia, the company confirmed Tuesday.
“We are doing our best to find a solution and a strategic partner for Smederevo steelworks, which creates huge losses for the country,” Serbian Prime Minister Aleksandar Vucic said in a statement posted to the Serbian government’s website.
A spokesman for Esmark could not provide additional comment, but did say the company intends to submit a bid. In addition to Esmark, Serbian officials have been in discussions with companies from Russia and India, according to Vucic.
U.S. Steel (NYSE: X) sold the Smederevo steelworks to the Serbian government in 2011 for $1 after the company purchased the facility for $23 million in 2003.
“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,” Vucic said.
Finalists for the project are expected to be announced next week.
Source Pittsburgh Business Time
