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.