Hungarian media INDEX has reported that Liberty Steel has signed a contract to operate ailing Hungarian steelmaker Dunaferr for three months. Hhigh-level negotiations took place in recent days between the Hungarian government and Liberty Steel, which is interested in Dunaferr. Liberty Stel has also held talks with members of the Hungarian government and they also visited the Dunaújváros plant. They have also registered a Hungarian subsidiary Liberty Steel Central Europe in Budapest. Liberty Steel also sent coal in December to Dunaferr to keep the plant's coke ovens running.Hungarian media has recently reported that Ukrainian steelmaker Metinvest is interested to buy Hungary’s insolvent steelmaker. Metinvest CEO Mr Yuri Ryzhenkov in a letter to Prime Minster Mr Viktor Orbán said that they are ready to participate in the reorganization of Dunaferr.The long-established factory in Dunaújváros has been in a difficult situation in recent years. Liquidation proceedings against Dunaferr were started in December due to the company's debts. By then, several employees had already resigned, and the company was not even able to transfer the November salaries of more than HUF 200,000 in one lump sum at the beginning of December. Earlier, they also started shutting down the Dunai Vasmű coking plant, which carries the risk that it will never be restarted. Liberty Steel sent coal from Poland to Dunaújváros to prevent this from happening.The Hungarian smelter, built in the 1950s, operates on the basis of ore imported from Russia and Ukraine. This is one of the reasons for the plant's problems - supplies from Russia are blocked and Ukraine has also lost a significant part of its iron ore production. The supply of coke and iron ore by Metinvest is probably among the synergies mentioned by the company.
Hungarian media INDEX has reported that Liberty Steel has signed a contract to operate ailing Hungarian steelmaker Dunaferr for three months. Hhigh-level negotiations took place in recent days between the Hungarian government and Liberty Steel, which is interested in Dunaferr. Liberty Stel has also held talks with members of the Hungarian government and they also visited the Dunaújváros plant. They have also registered a Hungarian subsidiary Liberty Steel Central Europe in Budapest. Liberty Steel also sent coal in December to Dunaferr to keep the plant's coke ovens running.Hungarian media has recently reported that Ukrainian steelmaker Metinvest is interested to buy Hungary’s insolvent steelmaker. Metinvest CEO Mr Yuri Ryzhenkov in a letter to Prime Minster Mr Viktor Orbán said that they are ready to participate in the reorganization of Dunaferr.The long-established factory in Dunaújváros has been in a difficult situation in recent years. Liquidation proceedings against Dunaferr were started in December due to the company's debts. By then, several employees had already resigned, and the company was not even able to transfer the November salaries of more than HUF 200,000 in one lump sum at the beginning of December. Earlier, they also started shutting down the Dunai Vasmű coking plant, which carries the risk that it will never be restarted. Liberty Steel sent coal from Poland to Dunaújváros to prevent this from happening.The Hungarian smelter, built in the 1950s, operates on the basis of ore imported from Russia and Ukraine. This is one of the reasons for the plant's problems - supplies from Russia are blocked and Ukraine has also lost a significant part of its iron ore production. The supply of coke and iron ore by Metinvest is probably among the synergies mentioned by the company.
