Court Accepts Liberty Steel Bid for Huta Czestochowa
Polish Business Insider reported that Huta Czestochowa, after a year and a half of searching, has found a buyer Liberty Steel who has agreed to pay the
Polish Business Insider reported that Huta Czestochowa, after a year and a half of searching, has found a buyer Liberty Steel who has agreed to pay the minimum price expected by the trustee. Czestochowa District Court spokesman informed "On January 22, 2021, a meeting was held to select a bidder in the tender for the sale of Huta Czestochowa. The deadline for submitting bids expired on January 21, 2021 at 15.00 and one offer was submitted by Corween Investments sp Zoo in Warsaw and an appropriate vadium was paid. The offer meets all formal conditions. The purchase amount was PLN 190 million, which is the minimum price specified in the terms of the tender. The decision is not legally binding, the parties have the right to lodge a complaint with the District Court in Czestochowa.”
This is the result of the third tender for the sale of Huta Czestochowa. Its conditions were approved by the Czestochowa court at the end of November last year. In early December, the receiver terminated the contract with earlier lessee Sunningwell International Polska after production at the plant was stopped.
In December, the receiver of Huta Czestochowa started negotiations with Corween Investments, in the process of changing the name to Liberty Czestochowa, with which he signed a lease agreement on December 23, 2020. The lessee took over the company and all employees. As of January 1, it was 1,148 people. The plate rolling mill was the first to start work on January 10. The first melts in the steel plant as part of the technological start-up began on January 14
ArcelorMittal controls about 70%steel production potential in Poland. It has branches in Sosnowiec former Huta Cedler, Swietochłowice former Huta Florian, Chorzow Huta Krolewska, Zdzieszowice, Dąbrowa Górnicza former Huta Katowice and Krakow former Huta T Sendzimir. The collapsing Polskie Huty Stali took over in March 2004 for a symbolic zloty, restoring their profitability. In October, it permanently closed the blast furnace in the Krakow steelworks.