Zlomrex said it is founding a new company, Zlomrex Steel Services (ZSS). It will consolidate companies from the group which distribute steel.
“We want to build Poland’s biggest group with PLN 2.5 billion (EUR 655m) of annual sales”, Przemyslaw Sztuczkowski, Zlomrex CEO said.
The group would sell 1.4m tons of steel products annually.
ZSS will first acquire Austrian VoestAlpine Stahlhandel (it owns 75 percent already). Then, it will merge with Centrostal Gdansk, also controlled by Zlomrex. It would also like to acquire the steel operations of Stalexport. Centrostal Gdansk will be withdrawn from the stock exchange while ZSS would be listed in the fourth quarter of this year.
Yesterday, Centrostal’s stock jumped 13.8 percent to PLN 21.4.
(PLN 1 = EUR 0.262)