ISD Poland to sell its seamless pipe plant to Alchemia

Polish steel group Alchemia has preliminarily agreed to acquire the seamless pipe plant Zaklad Produkcji Rur from ISD Huta Czestochowa, the Poland-based steelmaking subsidiary of the Ukrainian steel group Industrial Union of Donbass (ISD).
 
According to Alchemia's representative, the agreement with ISD Huta Czestochowa is a part of the group's strategy to strengthen its positions in the steel sector, as the new seamless pipe production plant will allow it to extend the range of its products offered for the oil and gas industry.
 
"The sale of Zaklad Produkcji Rur is the next step in the restructuring of ISD Poland. We are selling the asset which does not correspond to our core business," the chief executive of ISD's Polish unit Konstanty Litwinow said.
 
The Alchemia group already owns a seamless pipe plant in Poland, i.e., Huta Batory.
 
The financial details of the deal have not been disclosed.