Coal concern could soon be founded

Alan Heath
22-01-2002, 00:00

At its 5 February meeting the cabinet could decide to accept the economy ministry plan to link the Cedler, Florian, Katowice and Sendzimir steelworks into a grouping called Polish Steelworks (PHS).

At a second stage the shares of the Czestochowa steelworks might also be added. At the end of September the sectorís debts came to almost PLN8.3bn, PLN6.8bn of which were short term.

The ministry is now seeking to speeden the consolidation of the steel sector in an attempt to halt the flow of money out.

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