October 4, 2004, Kosce - As part of its overall strategy, in 2001 U. S. Steel Kosice has established Economic Development Center (EDC) to support influx of new foreign investors into region of Eastern Slovakia. During nearly four years of existence and active cooperation with other subjects such as Slovak Agency for Development of Investments and Trade (SARIO) EDC team of specialists participated in successfully attracting 8 foreign investors. Overall investments made during that period reached USD 60M and 1000 new jobs have been created.

One of recent EDC activities was to complete negotiations with Belgian company JONCKHEERE Subcontracting N.V., which has, after 18 months of familiarizing with the environment and entrepreneurial options in this region decided to start-up its business activities. Company is a sub-supplier for various industrial clients. Major activity is production of welded, treated and assembled components.

"JONCKHEERE Subcontracting N.V. was established in 1881 in Belgium. After ten years of cooperation and good experience with sub-suppliers from Central Europe, our company decided to start own facility outside Belgium. On the basis of documented study and detailed business plan we decided to take advantage of investment opportunities in Slovakia, specifically in Kosice. We believe our subsidiary will help us to implement company vision - to offer quality services along with attractive prices. I hope that our plan of production and technology development, capacity expansion as wells as new job creation will be moving forward quickly to the benefit of both parties", said Paul J. A. Schodts, CEO.

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Further information:

Jan Baca
Director Public Affairs
U. S. Steel Kosice, s.r.o.
Tel.: +421 55 673 4476
Fax: +421 55 673 0330
E-mail: jbacask.uss.com