Kosice's globalization

Article Abstract:

VSZ (Kosice, Slovakia), metallurgy company, should become the centre of metallurgy production in Central Europe after 2000. This will be enforced by U.S.Steel (US), which entered VSZ in Oct 2000. U.S.Steel, which is a part of USX (US), will invest USD 700 mil in VSZ. The firm plans to increase the capacity of tinplate and tinned sheet production by 200,000 t per year at VSZ shortly compared to 120,000 t per year in 2000. The worth of the investment will be USD 70 mil. U.S.Steel and VSZ have had a tinplate and tinned sheet production joint venture since 1998. The joint venture has 400 employees. Besides, USD 200 mil will be invested in car-body tinned sheet production at VSZ. VSZ should produce 330,000 t of the sheet per year from 2002-2003. VSZ should become the leading supplier of the sheet on the Central European market.

United States Steel Corp.

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Nafta has a new co-owner

Article Abstract:

Nafta (Gbely, Slovakia), natural-gas storage company, had a 29.1% stake acquired by Westfaelische Ferngas (WF) (Germany) at end 2000. WF bought the shares from the investment group J&T Finance (Slovakia) for about SOK 1.6 bil. Gradually, WF wants to acquire at least 34% of shares in Nafta. Nafta's majority shareholder is the state company Slovensky plynarensky priemysel (Slovakia), which is also its main customer.

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