Huta Częstochowa has a chance to become profitable – Weglokoks

The return of the Polish steel company Huta Częstochowa to the market was positively received by its participants. This was announced by Tomasz Slezak, Chairman of the Board of Weglokoks, which currently leases the plant, at the European Economic Congress in Katowice, netTG reports.

According to him, capacity utilization has increased to a high level after the restart, and the number of orders has increased. However, the fact that the company is under state control does not in any way protect it from real market conditions. However, Slezak expressed confidence that the project has a chance to pay off and be profitable.

The CEO of Weglokoks emphasized that the next step in the company’s development will be the implementation of the next stages of the technological process.

“This is not an easy project, but in terms of investment, it can give itself a chance in the market. There is also potential for modernization,” he said.

In February of this year, Huta Częstochowa reached a key milestone in its resumption of operations by launching production in the plate mill (Walcownia Blach Grubych). This was the last step towards the company reaching full capacity after more than a year of downtime.

In March, the Ministry of Defense announced its intention to buy all or part of the steel complex.

In April, it was reported that Huta Czestochowa would be officially revalued. The new value of the asset will be PLN 253.8 million. This is 26 million more than during the last year’s assessment. The main reason for the increase in value is the launch of production in the steelmaking and hot rolling shops by the current tenant. In addition, the plant renewed its international quality certificates.