Corween Investments, the holding company of Liberty House, is closer to buying the Polish steel mill Hutu Częstochowa after the local city court on Friday, January 22, named the current tenant of the plant, Liberty Steel, as the preferred bidder. Corween's was the only offer received and fulfilled all formal conditions. The purchase price indicated in the offer was PLN 190 million (approximately $51 million), which is the minimum amount established in the tender conditions.
The decision is not final as the parties have the right to lodge a complaint with the Częstochowa district court.
As previously reported by SteelOrbis, Liberty Steel took over the lease on Hutu Częstochowa at the end of December last year and restarted the plant’s rolling mill. The rolling mill used steel from Liberty Ostrava in the Czech Republic. The plant benefited from Liberty’s European presence and procurement capability to secure the scrap and other material required for the restart of its electric arc furnace operation.