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U.S. Steel denies report it has sold Slovak operation

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By Reuters

Published: Saturday, Nov. 17, 2012, 6:12 p.m.

U.S. Steel Corp. denied on Saturday a newspaper report saying it had sold its Slovak operation to Ukrainian mining group and steel producer Metinvest.

The Slovak economic daily Hospodarske Noviny cited sources as saying an agreement was signed late Friday.

“The situation from earlier this week has not changed,” Jan Baca, spokesman for U.S. Steel Kosice, said in response to the report.

Metinvest was not available for an immediate comment.

U.S. Steel Kosice, the eurozone country's largest private corporate employer with more than 11,000 staff including subsidiaries, said on Monday that investors had expressed interest in the subsidiary in eastern Slovakia.

The Slovak unit of the Pittsburgh-based parent company is an important supplier for Slovakia's booming car industry, the key driver of the small and export-reliant economy, which is one of the European Union's fastest-growing despite the current crisis.

Steelmaking conglomerate Thyssen, in the midst of a restructuring to cut debt and refocus the group on its core European business, has denied any interest in the company.

 

 
 


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