Vitkovice Steel posts robust first-half profits
Czech steelmaker Vitkovice Steel announced pre-tax profits of CZK 1.89 billion ($79.9 million) for the first half of the year, a five-fold increase year on year.
The sales revenue of the company increased 45 percent year on year to CZK 8 billion ($320.9 million).
Last week, the Czech Republic decided to sell the 99% state-owned share of the company to
Russia's Evraz Group for CZK 7.05 billion ($283.1 million). Evraz plans to invest CZK 2.5 billion ($100 million) in the plant.