Slovakia-based financial advisory services company MiddleCap Partners has announced that a bankruptcy trustee has launched an international tender with the intention of selling the machinery, buildings and other assets of Slovakia Steel Mills located in eastern Slovakia. Accordingly, the deadline for applications is August 7, indicative offers are due on September 25, with final offers due on December 19 this year.
Designed with an annual production capacity of 600,000 mt of steel billets and long steel products, SSM started production in 2011 with approximately 400 employees. However, the company, with annual revenues of €170 million, was forced to file for bankruptcy in 2015. The total investment in SSM was more than €220 million.
On the other hand, the bankruptcy trustee in question, Miroslav Duracinsky of Slovakian trustee company SSR, stated, “Considering the unique and one-of-a-kind nature of this investment opportunity, we expect to have the name of the investor and owner of this ultra-modern mini-mill by the end of the year. We are all looking forward to restarting production and hiring.”