Global steel giant ArcelorMittal’s Czech Republic-based subsidiary ArcelorMittal Ostrava has announced that ArcelorMittal has signed an agreement with Poland-based steel producer Stalprodukt for the sale of its grain-oriented electrical steel plant in Frydek-Mistek. The agreement will become effective as soon as the antitrust authorities issue their approval for the transaction.
According to the company’s statement, the Frydek-Mistek plant is a specialized manufacturer of electrical steel, supplying products to a very narrow market segment and that is why the group has decided to sell the plant to the company that focuses on this segment.
Frydek-Mistek plant produces grain-oriented electrical steel designed for generators, transformers and motors and cold rolled sheets. The plant has 460 employees and its total annual production capacity is 100,000 mt.