Slovenian Steel Group tender will be ready in 2006

Slovenian Steel Group tender will be ready in 2006

The first stage of Slovenian Steel Group's privatization will be concluded before 2006 ends, according to Slovenian Ministry of Economy. The first stage privatization plan recalls for the group to be sold as a whole, while selling group companies separately may also be preferred in the forthcoming periods. The actual way of privatization will be determined in a way that would yield the highest possible income and a part of the income will be spent to pay the debts of the group. Slovenian Steel Group consists of four major steel making plants more than seventy percent of whose products are exported and three non-core companies. Acroni and Metal Ravne are manufacturers of high-grade steel, flat steel and long steel products, Nozi Ravne is a producer of high-quality industrial knives and STO produces machines and technological equipment. The non-core companies are Elektrode Jesenice (commerce and service company), SUZ and ZIP Center Ravne (recruitment companies) . In 2004, Acroni produced 332.443 mt, and Metal Ravne produced 104.194 mt steel. The group announced 400% year on year increase in net profits through the first nine months of 2005, to €23.37 million. The sales revenue in the same period was €360.6 million.