Mittal Steel Poland trade unions strike

APA - Austria Presse Agentur
opublikowano: 04-03-2005, 13:28

Warsaw (Puls Biznesu) – Trade unions in Mittal Steel Poland (MS) demand data concerning the investment programme worth PLN 2.4 billion (EUR 610.9 m). The European Commission (EC) is also concerned that investments are delayed. EC questions the plans to buy flat steel plant in Krakow. It agreed for modernisation of the old plant, before.

Warsaw (Puls Biznesu) – Trade unions in Mittal Steel Poland (MS) demand data concerning the investment programme worth PLN 2.4 billion (EUR 610.9 m). The European Commission (EC) is also concerned that investments are delayed. EC questions the plans to buy flat steel plant in Krakow. It agreed for modernisation of the old plant, before. Now, MS will have two plants before the old one is closed. ‘If before 2006, a substantial deterioration of conditions on the steel market has place, there is a danger that the restructuring of MS fails’, Irena Herbst, deputy Minister of Economy wrote in a letter to Frantisek Chowaniec, MS CEO.

Stanislaw Speczik, deputy Treasury Minister, admits that he also has doubts concerning investment programme. ‘We have received auditor’s report and it is rather sceptical’, Stanislaw Speczik said. According to the privatisation agreement, if the investor fails to conduct investment programme, he will have to pay to the Treasury settlement at the amount of the unrealised projects. MS representatives promise to realise all promised investments soon.

Although MS postpones investments, it cuts employment quicker than agreed in the privatisation agreement. ‘Till December 31st 2004, the employment should not be lower than 15,350 jobs and not higher than 15,429 jobs’, the agreement reads. Meanwhile, Jacek Mirenski, MS representative, said that at the end of last year 14,000-14,500 people worked in the plant, and at the end of January – 13,500 employees.

(PLN 1 = EUR 0.255)Poland/Enterprises/Metals and Mining/Privatisation

 

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