LNM also submits improved offer for PHS

LNM also submits improved offer for PHS

After the US Steel's amended offer for the privatisation process of the Polish steel mills PHS, the world's largest steel producer LNM Holdings also announced that it has submitted a final improved offer for PHS. The company believes that its improved offer will be selected as the best bid by the Treasury Ministry of Poland in the end of this month. LNM's annual steel capacity in Central and Eastern Europe will be incresed to 19 million tons from 11 million tons if the company successful in purchasing PHS. Furthermore, the company is also a bidder in the privatisation of the Polish steel maker Huta Czestochowa. The group already owns Ispat Sidex in Romania and Ispat Nova Hut in the Czech Republic. Treasury Ministry of Poland considers to identfy the winning bidder in approximately two weeks.