Polish seamless pipe mill seeks investors

Polish seamless pipe mill seeks investors

The bankrupt seamless pipe producer of Poland, Huta Andrzej is seeking potential buyers, according to recent industry reports. The company has invited bids with this purpose and has set a deadline of July 15. The receivers of the bankrupt steel mill is reported to have set a price of Zloty 86 million (approx. $22 million) to hand over the company. It is required from the investor to invest in the modernisation and restructuring of the mill for cost reduction. The mill's production continues without interruption for the time being. The estimated current production capacity is around 85'000 tons per year. The company exports one fifth of its production, according to reports.