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Mittal Steel Poland captures 90% steel production in Poland


UK, July 30, 2007
Sant Parkash Singh

UK NRI Steel tycoon Lakshmi Mittal signed an agreement with the Polish government for the acquisition of the largest steel plant in Poland, Polskie Huty Stali S.A (PHS) at a cost of 2.3 billion dollars.

  • With this agreement, Mittal will capture 90 per cent of the steel production in Poland
  • In 2004, he had already acquired 69 per cent of the shares of Polskie Huty Stali .The total cost of the was US$2 billion. . LNM invest over US$600 million in the business.
  • Mittal Steel Poland consists of four plants located in Dabrowa, Cracow, Sosnowiec and Swietochlowice- producing around 6.5 million tons of crude steel annually.

Polskie Huty Stali transforms the group into the leading steel producer in central and Eastern Europe with production of around 15.5 million tonnes a year. It has headquartered in Katowice.

Mittal Steel has changed the Polish profile in the world steel market and has become the largest investor in the country.