On February 11, Czech steelmaker Moravia Steel announced the signing of a deal for its acquisition of 100 percent ownership of Polish company Metalurgia S.A.
The transaction will be completed after certain conditions are met, including approvals from the relevant anti-monopoly offices, both Polish and German.
"The acquisition of the Polish company supplements our investment intentions in the area of steel fabrication. We plan to implement some of our investment projects in Radomsko," said chairman and CEO of Moravia Steel, Jiří Cienciala.
Metalurgia S.A, located in Radomsko in central Poland, produces special drawn wire and other special wire products. Employing 280 people, the company's revenue for 2008 exceeded PLN 100 million ($28.26 million).