Tag: Huta Ostrowiec

Polish steelmaker Celsa Huta Ostrowiec has received acquisition bids from at least two southern European long steel producers, but both were below the valuation of its Spanish parent company, multiple sources tell Kallanish.

Celsa has been looking to divest a number of its European operations, including in Poland and the UK, to raise cash to alleviate financial problems. Sources indicate the group has set a sales price target of €800 million ($890m) for its Polish electric arc furnace-based steelworks that produces around 1 million tonnes/year of rebar, beams and merchant bar.

The operation has good prospects considering Poland is expected to receive and utilise new EU funds from 2025, which will be put towards construction projects that are expected to increase steel demand.

Representatives from one other European steelmaking company are meanwhile visiting Celsa’s 1.2m t/y EAF-based UK plant in Cardiff this week, for which the group is seeking €200m, sources reveal.

Celsa could not be reached for comment.

Celsa’s is not the only Polish plant up for sale. Plate maker Huta Czestochowa, owned by Liberty, is looking for a new owner after being declared insolvent, with at least five potential suitors in the running.

Adam Smith Poland