Boryszew has signed a letter of intent with an unnamed foreign investor for the sale of its Rurexpol seamless pipe mill subsidiary located in Czestochowa, which has been in liquidation since last November.
The potential buyer will now carry out due diligence on the Polish unit, with the final sales contract expected to be signed by 15 October, Polish industrial holding Boryszew notes.
It decided to liquidate 70,000 tonnes/year capacity Rurexpol as a result of its to inability to compete on the market due to outdated technology and the deteriorating European steel industry situation (see Kallanish passim). This followed the liquidation earlier in the year of another of its pipemaking units, Walcownia Rur Andrzej (WRA), for the same reasons.
Netherlands-based industrial consultancy KRUDO Industrial B.V. was appointed to sell both units.
In March, Huta Czestochowa signed a letter of intent to define a framework of cooperation with Rurexpol, following the Polish defence ministry’s decision to exercise its right to acquire Huta Czestochowa.
Boryszew said in its first-half-of-2025 earnings report published last week that metals segment profitability fell significantly. Steel operations were most impacted due to the decline in steel product prices on the European market, lower sales margins, and a reduction in the scale of operations due to the liquidation of its pipemaking mills.
Adam Smith Austria
