The F16 industrial concern has proposed an offset deal worth USD300m to the Polish steel industry provided that US Steel acquires Polish steel works PHS on privatisation. The other bidders in the steel sell off are Arcelor, LNM Holdings and ThyssenKrupp.
US Steel is of course part of the F16 industrial group and alongside Lockheed Martin it is now the favourite to win the order to supply the combat aircraft. The word in the economy ministry is also that US Steel is the favourite in the privatisation but Andrzej Szarawarski, the minister responsible for the steel industry and at the same time the head of the offset commission, chose not to comment.
Philip N. Georgariou, the director of the F16 industrial concern said that US Steel can supply the latest technology and that if the treasury chooses another investor in the privatisation race then it would indicate that such technology is not considered necessary.
There is also a feeling, whether it be true or not, in the steel industry that the Americans would develop production in this country whilst the Europeans would not.