Posted by on 24 Nov 2010. Filed under Business, Top news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

U.S. Steel denies speculations about sale

As the end of the highly advantageous 10-year tax holiday of U.S. Steel Kosice draws to an end, speculations appeared in the US daily Pittsburgh Tribune-Review that the steel plant might be up for sale or be ready to make mass redundancies.

The tax holiday will finish at the end of November in line with the agreement made back in 2000 with the former government of Mikulas Dzurinda. The deal at the time allowed U.S. Steel to a maximum tax relief of USD 430 million, which was depleted already two years ago.

The company has categorically denied the reports about the possible sale of the company, and company spokesman Jan Baca says the end of the tax holiday will not affect the company’s future development plans.

The prospective buyer according to Pittsburgh Tribune-Review was the company ArcelorMittal.

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