Three companies bid for DAM Steel

Three companies bid for DAM Steel

Recent market news reports that, three companies have submitted four bids for the assets of Hungarian steel mill DAM Steel by June 30 deadline. The subject three companies are stated to be active in metallurgical industry. In line with the terms of tender, companies may submit separate bids for individual assets. It is reported that the latest offer in the tender was HUF 5.3 billion ($25.7 million). As previously reported by SteelOrbis, Ukrainian steel producer Industrial Union of Donbass (IUD) was to submit bid for DAM Steel, which bankrupted in March, 2004 however IUD announced later on that it gave up the idea of bidding for the mill.