Polish plate mill up for sale again at reduced starting price

The bankruptcy administrator of Polish steel plate producer Huta Czestochowa (HCz) has reduced the starting price for the mill sale by Zloty 30 million ($7.6 million) in a second attempt to find a buyer, Dominik Bogacz, a judge at a regional court in Czestochowa, said in an email to S&P Global Platts on June 5.

The new starting price has been set at Zloty 220 million ($56 million). Interested parties can submit their offers by July 27.

The first tender, closed on June 3, was inconclusive as no valid offers were submitted.

The mill remains under lease by investment company Sunningwell International Polska until September 19. Although the lease holder did not submit its offer in the first tender it expressed interest in buying HCz outright, outside the tender process, by exercising its pre-emptive right.

Other companies previously mentioned as being interested in HCz are Liberty Group and Metinvest, an industry source said.

The mill has an in-house meltshop and its heavy plate production capacity stands at 800,000 mt/year.

— Wojtek Laskowski