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Press release
           

11/2/2006

FINOW Verwaltungs- und Service GmbH sold to a new owner


Author: USS Košice


Kosice, November 2, 2006 - U. S. Steel Kosice, s.r.o. announces that effective November 1st, 2006 it has sold its daughter company FINOW Verwaltungs- und Service GmbH in Regensburg, Germany, which is the parent and sole shareholder of Walzwerk Finow GmbH in Eberswalde, Germany, to a new owner: FSB Finow Stahl Beteiligungsgesellschaft mbH. The sale of Finow, which was previously disclosed, is in alignment with U. S. Steel Kosice, s.r.o. continuing to focus its efforts on its core business and value added metallurgical production and sales.

Walzwerk Finow GmbH was acquired by U. S. Steel Kosice, s.r.o. in 2000 as a part of the transaction with former VSZ a.s. Kosice. It produces welded cold sized tubes, plain end welded steel tubes, and welded cold sized square and rectangular tubes for precision applications mainly in the automotive industry. With a production of approximately 80 000 tons per year it serves more than 200 customers primarily in the European market.

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Further information:

Lubomira Soltesova
Media Relations Manager
U. S. Steel Kosice, s.r.o.
Tel.: +421 55 673 4476
Fax: +421 55 673 0330

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