U.S. Steel Košice keeps increasing profits
Košice-based U.S. Steel reported a pre-tax profit of $544m in the first half, up 74% annually, despite its output being down by 33,000 tons. It continues to benefit from strong demand and high steel prices. Last year, it reported a record profit of $874m. It warns that an economic slowdown and high energy prices may take a toll on its results. HN sources say that U.S. Steel is trying to sell its Slovak subsidiary, with Czech businessman Pavel Tykač and Hungarian MOL showing an interest.
