US Steel announces its interest in Erdemir's privatization

US Steel announces its interest in Erdemir’s privatization

As SteelOrbis reported yesterday, the US's largest steel producer has expressed interest in Erdemir's privatization tender. John Surma, US Steel's new CEO who assumed office only two months ago, in his first press conference announced his wish for the company to strengthen its presence in Eastern Europe, and Erdemir is on the list of steel producers US Steel is considering for potential acquisitions. This news follows a similar report from Luxembourg-based Arcelor, the world's largest steel producer, which also announced its interest in purchasing a stake in state-owned Erdemir's privatization during the International Iron & Steel Institute (IISI) conference October 5-7. As a first priority, US Steel's CEO Surma stated that following its acquisitions in Slovakia and Serbia, the company is most interested in acquiring factories and mines to support its growth in Eastern Europe, namely in countries such as Croatia, Ukraine, Romania and Bulgaria.