VUCIC: Zelezara Smederevo to resume operations if not bought by Esmark

Serbian Prime Minister Aleksandar Vucic said Thursday that it would be known within the next two days whether the U.S. company Esmark was going to be the majority owner of Zelezara Smederevo, adding that the steelworks in Smederevo would resume production if the deal fell through.

- We will do our best to reach an agreement with Esmark - Vucic told a press conference in the government building and reminded that Serbian Finance Minister Dusan Vujovic would start final negotiations with Esmark in Pittsburgh, USA that day.

He noted that in case Esmark gave up the acquisition of Zelezara, that state-owned company would continue to operate.

Vucic added that the employees of Zelezara Smederevo would be protected and that there would be no additional investments in that company by the state because "the state has already given all it could".

Negotiations between the Serbian government and the management of Esmark commenced January 27th because this company was the only bidder for the purchase of 80.01 percent stake in Zelezara on a tender opened January 9th.

Železara Smederevo d.o.o.

Esmark Steel Group SAD

Ministarstvo finansija Republike Srbije

Vlada Republike Srbije

Zelezara Smederevo

Dusan Vujovic

negotiations with Esmark

US Steel