US Steel closes down recently acquired Sartid
American steel producer
US Steel Corp. (USS) has recently announced that it had to close down the two mills of its recently acquired Sartid in
Serbia due to the pay strike.
The company has been struggling with strike issue over wages at Sartid for a while, as previously reported by SteelOrbis. Around 10'000 workers at the state owned steel mill Sartid, requested the hourly wage to grow up by 66.7% to 55 Dinars.
The officials of the company state that for security reasons, they are forced to take such a decision.
US Steel had acquired Sartid mill with the cost of $23 million plus a $5 million transaction cost at the beginning of September 2003.