Moravia Steel, the parent company of Czech steelmaker Třinecké Železárny, has stated that it is considering the acquisition of the pipe mill and the rolling mills of Czech Republic-based steelmaker Liberty Ostrava, a subsidiary of UK-based Liberty Steel.
In June, Liberty Steel decided to sell some of Liberty Ostrava’s operations which face ongoing material risks and uncertainties, as SteelOrbis previously reported. Moravia Steel will soon submit a proposal for the acquisition, and the proposal will include a plan for financing the operations and a solution for the employees.
The pipe mill and rolling mills employ about 2,800 people. Urging Liberty Ostrava employees who are considering resigning to wait, Roman Heide, general director of Třinecké Železárny, stated, “We understand the difficult situation that Liberty Ostrava employees are in, but, given their expertise, their continued employment is crucial at this moment.”