LNM wins exclusive talks for PHS

LNM wins exclusive talks for PHS

The LNM Group, one of the world's largest steel producers, has been selected by Treasury Ministry of Poland to enter into exclusive negotiations for the privatisation of PHS. The final negotiations on PHS are scheduled to initiate in the next couple of days and will end on August 22. Polish Treasury Ministry stated that the treasury could hold exclusivity talks with US Steel, if the talks with LNM fail. PHS expects to convert its debts to profit and to make new investments at a cost of $1 billion by this privatisation. LNM produces 35 million tons of steel per annum and sells in more than 50 countries.