Poland prepares for EU access
Poland's steel mill Polski Huty Stali(PHS) is in talks with certain interested parties to invest in the plant's upcoming privatisation. the plant is currently state owned and according to reports, Ispat, ThyssenKrupp and Arcelor as well as U.S. Steel are interested in investing in the privatisation of the plant and therefore are currently studying the books.
Poland plans an access to the EU by 2004 and the reconstruction of the steel industry and privatisation plans still constitute the crucial issues for attaining the goal. What
Poland needs to fulfill is to improve with a reconstructuring plan and budget that it can compete on the European market until 2006 without subsidies.
According to reports, almost 75%(approx. 650.000mts) of the annual
production cut, which is required for the revamping of the steel industry, will be borne by PHS.
According to an Eurofer representative the importance of accurate planning of revamping the steel industry in a realistic way is important in order to avoid future misfortunes such as plant closures or layoffs.
The Polish Government is expected to finalise the issues within this week.