Factories in Poland, Norway and Great Britain are subject to disposal. The total market value of assets reaches 1.3 billion euros
Celsa, Spain's largest private industrial group, is considering the sale of its steel factories in Poland, Norway and the United Kingdom. The total market value of the assets reaches 1.3 billion euros. The information was published by the local newspaper Expansão .
Celsa's Polish unit, Huta Ostrowiec, is expected to attract the most interest from potential buyers and could be worth up to 800 million euros. The Norwegian factory could be valued at around 300 million euros, while the British Celsa Steel UK is valued at around 200 million euros.
According to the report, Celsa is working with Citi to analyze the triple agreement with its foreign subsidiaries.
The potential divestment of the company's foreign operations is part of a new strategy it is implementing with advice from consultancy Bain & Company.
In 2022, Celsa produced 5.52 million tons of steel. Production of finished products was 1.18 million tons.
As the GMK Center previously reported, in 2023, EU countries reduced steel production by 7.4% compared to 2022, to 126.3 million tonnes. Global steel production decreased by 0.1% year on year – to 1.85 million tonnes.
In 2023, Spanish steelmakers reduced steel production by 2.7% compared to 2022, to 11.26 million tons. In December 2023, Spanish steel mills produced 712 thousand tons of steel, an increase of 7.4% compared to December 2022 and a drop of 30.9% compared to November.
