Steel mill Kremikovtzi waits the new owner

Merrill Lynch, the bank drafted in to advise the sale of stricken Bulgarian steel mill Kremikovtzi, has entered the business end of its negotiations with potential buyers of the plant currently owned by Indian businessman Pramod ... More

Alas Holding continues with investment in Serbia

The Management Board of the Austrian company Alas Holding has announced that the current situation in Serbia would not affect the company’s business plans. The company will continue with the investments in Serbia and these ... More

Austria's Biggest Steel-Maker to Invest EUR 5 B in Black Sea Region

The Austrian steel-making group Voestalpine confirmed its plan to invest EUR 5 B in a steel plant close to the Black Sea by 2012, Sofia News Agency wrote. It is yet to choose among Bulgaria, Romania, and the Ukraine as the ... More

Bulgarian govt trying to wrest Kremikovtzi from Mittal's grasp

State-controlled gas distributor Bulgargaz announced last Friday it has ramped down supplies to Kremikovtzi over the 19 mln levs in unpaid bills it is owed by the nation's biggest steel mill. The supplies are lowered to the ... More

Privatization of Aluminij postponed

The Government of the Federation pushed back the deadline for privatization of Mostar Aluminij yesterday, to May 8. The change came because negotiations between the privatization commission and the first-ranked bidder - ... More

Sidenor,Sidma examine entrance in Serbian market

According to sources from the companies, Sidma along with Sidenor examine a potential entrance into the Serbian market. Serbia is considered a rapidly growing economy, with high GDP growth rates and is considered ... More

20 mln Euro from EBRD to Croatia for steel works’ debts

The European Bank for Reconstruction and Development (EBRD) has extended a 20 million euro loan to Croatian steelworks Zeljezara Split, owned by Polish group Zlomrex. The financing will be mainly used to pay the debts of the ... More

MN Specialty Steels should pay EUR 20mn

Representatives of the Montenegro Agency for Economic Restructuring and Foreign Investments officially notified the British MN Specialty Steels (MNSS), owner of Ironworks Nikšić, of the obligation to pay in EUR 20mn for ... More

Strikers decided to work for another company

46 workers from Minel Promont from Niksic continue to be on strike, but they decided during a meeting held yesterday that they would work for another private company that would pay them. The strike that began on October 27 is ... More

Strike at Hamerock Metal: over 200 workers discontent of labour conditions

218 workers employed by the Hamerock Metal company from Miercurea Ciuc, owned by businessman Csibi Istvan, started a strike yesterday, to express their revolt against the employer’s behaviour and against the labour ... More

Glencore, Feal and Dalekovod enter final negotiations first

After rating the offers for privatization of 88 per cent of Mostar Aluminij, the federal government will begin negotiations about concluding a sale agreement. Price of electricity to be paid by Aluminij and environment protection ... More

Bïsnian Govt to sell 88% of Aluminj for 130 mln Euro

The government of Bosnia and Herzegovina has announced its plans to approve the sale of 88% of Bosnian aluminium smelter company Aluminij to a consortium including Swiss industrial materials provider Glencore, Bosnian aluminium ... More

Kloeckner buy of Metalsnab wins regulatory approval

Bulgaria's anti-trust authority has approved the acquisition by German steel distributor Kloeckner&Co AG of a 70% stake in Bulgarian distribution company Metalsnab Holding AD. 'The deal will be finalised by the end of '07 after ... More

Voest planning Black Sea steel production

Austria's biggest steel concern Voest plans a second steelworks on the Black Sea coast, APA News Service reported on Tuesday. With investments of billions of euros, it would double its annual production capacity to 11 mln ... More

Finnish supplier of metal-based sys enters Bulgarian market

Rookie, the Finnish provider of metal-based solutions for retail, industrial, logistics and infrastructure construction, is aiming for a leading 30% share of the Bulgarian market, Jukka Hirviniemi, vice president Ruukki ... More

Deadline for Mostar offers extended

The deadline for the offers for the Bosnian aluminium company Aluminij Mostar was extended to 24 September. Mytilineos is short-listed in the final phase of the international tender, together with EN+Group, Glencore International ... More

MYTILINEOS-ALUMINIUM-DELTA, mass industrial merger

The shareholders of Mytilineos, Aluminium of Greece and Delta Project have approved a merger plan of the three companies, signaling the creation of one of the largest listed industrial groups in the country. Also yesterday, the ... More

Ironwork sued by around 3,000 workers

Around 3,000 former and present workers of the Niksic Ironworks have pressed charges against the company before the Podgorica Commercial Court staking a claim to free shares. According to them, back in the 90s they were ... More

Romstal to expand in Romania, Bulgaria and Serbia

Romstal will invest this year EUR 40 million to expand the sales center in Romania and to enter Bulgaria and Serbia markets. The company plans to open 30 subsidiaries in franchise system and to open 14 branches, said the ... More

Steel mill Kremikovtzi faces power cuts

National power utility NEK said it has started to power down the electricity supply of Sofia-based steel mill Kremikovtzi over the non-payment of its bills. Current outstanding debts total 5.2 mln levs. NEK has already ... More