LNM offers extension for negotiations over labour agreement
As previously reported by SteelOrbis, LNM Group which is one of the largest steel producers in the world, had reached a draft agreement with the Polish government for the acquisition of its largest steelworks Polskie Huty Stali S.A. (PHS) in a deal worth over £630 million (around $1 billion) earlier this month.
According to recent market reports Indian mill LNM, holding negotiations with trade unions over the agreement covering workers and employees of PHS, requested Polish Treasury Ministry to extend the deadline set to reach a new labour agreement, for two weeks. However, the new deadline is not yet disclosed by the Polish government.
Privatisation of
Poland's leading steel producer PHS comprises Huta Katowice, Huta Sendzimira, Huta Florian and Huta Cedler.