Time extension for final bids to Poland's PHS

Time extension for final bids to Poland’s PHS

Under the ongoing privatisation process of the Polish mills Polski Huy Stali (PHS), the originally set April 14, 2003 deadline for submitting the final bids has been extended by the Polish government. This extension is granted upon the request received from one of the bidders. The new deadline set is April 22, 2003. The bidders Arcelor, LNM Holdings and US Steel have completed their due diligence in March. After completion of the submitted final bids analysis by a special committee, the next step of the privatisation procedure will be outlined.