The Slovak division of the U. S. steel corporation U.S. Steel Kosice closed last year with a net profit of €27.66 million, bouncing back from 2011 in which the company reached a loss of €24.77 million.
The Slovak division of the U. S. steel corporation U.S. Steel Kosice closed last year with a net profit of €27.66 million, bouncing back from 2011 in which the company reached a loss of €24.77 million. “The improvement of economic performance for 2012 versus 2011 reflects the influence of lower prices of raw materials and an increase in the volume of orders that were partly offset by a drop in sales prices and an increase of energy prices,” announced the firm. The steel manufacturer had intended to leave Košice due to the end of its tax holiday, growing energy costs, and stricter EU regulations regarding the environment. The Slovak government and the U.S. Steel giant ultimately signed a memorandum on the company’s continued presence in the eastern Slovak city, with the government promising relief in the energy field and in commitments towards the environment.
