Read
- Romney clawing his way back in Republican race
|
- Putin praises Cold War moles for stealing U.S. nuclear secrets
- Afghan soldier kills two NATO troops at protests
|
- Whitney Houston Open Casket Photo Graces National Enquirer Cover
- 'Seinfeld' Actor in Critical Condition After Apparent Suicide Attempt (Report)
Serbia buys local U.S. Steel unit for $1
BELGRADE |
BELGRADE Jan 27 (Reuters) - The Serbian government will buy back U.S. Steel Corp's underperforming Serbian unit for a single U.S. dollar, the country's prime minister said on Friday.
"We have agreed to buy it back for $1," Mirko Cvetkovic, the Prime Minister told a news conference. "U.S. Steel is leaving Serbia and the reason for that is the economic crisis."
U.S. Steel bought the then bankrupt Sartid steel mill from the central city of Smederevo in 2003 for $33 million, but the plant has been running well below annual capacity of 2.4 million tonnes for the past five years.
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.
Follow Reuters