It is reported that Industrial Union of Donbass, the owner of Alchevsk Steelworks has completed the sale of its pipe plant in Poland to Alchemia SA. The deal got the approval of the Polish and German anti-monopoly authorities.

According to Millennium Capital analyst “The news is positive for ALMK. The announced USD 41.2 million price of the deal makes up approximately one third of the ALMK debt to Metinvest for iron ore as of the end of the summer. The sold Zaklad Produkcji Rur is only a pipe making part of the ISD Huta Czestochowa, while the remaining assets are involved in the production of steel sheets and constructions.”

(Sourced from Millennium Capital)