USSK to takeover Sartid in Smederevo

USSK to takeover Sartid in Smederevo

Slovakian mill, US Steel Kosice (USSK) has now taken control and management of the integrated company Sartid, located in Smederevo, 45 kilometers southeast of Belgrade, Yugoslavia. It has just been confirmed to SteelOrbis that the sales of Sartid products will be controlled from Kosice in order to co-ordinate the prices and deliveries. In August this year, the Commercial Court put Sartid steelworks under receivership due to the company's massive debts, and USSK had the priority to take place in any restructuring of Sartid due to a separate agreement between these two companies, signed in March 2002. USSK is a wholly owned subsidiary of United States Steel Corporation.