Hungary-based long steel producer ÓAM Ózdi Acélművek Kft (Ózd Steelworks, Ltd.), owned by German company Max Aicher Group, has bought the bankrupt Slovakia Steel Mills (SSM) located in eastern Slovakia, according to media reports. Financial details of the transaction were not disclosed.
Designed with an annual production capacity of 620,000 mt of steel billets and long steel products, SSM started production in 2011 with approximately 400 employees. However, the company was forced to file for bankruptcy in 2015. SSM’s biggest creditor is the Czech Republic-based state-owned Czech Export Bank, which provided €168.6 million loan for the project.