Also in the news...
UK seeks business views on response to US tariffs
Government begins process seeking business views on response to US tariffs
UK/Viet Nam: Free Trade Agreement
This treaty was presented to Parliament in April 2025.
How AI Is Fueling Creative Innovation for Startups Abroad
When most people think about starting a business overseas, their minds immediately jump to logistics: registering the company, navigating local laws, and finding office space. But one of the most exciting (and often overlooked) aspects of expanding internationally is tapping into the global pool of innovation especially in the realm of artificial intelligence (AI).
Support for UK businesses helping to rebuild Ukraine
Department for Business and Trade (DBT) initiatives to support UK businesses helping to rebuild critical infrastructure in Ukraine.
Now is the time to generate growth together with India
£400m of trade and investment wins from UK-India Economic and Financial Dialogue set to boost the British economy.
U.S. Steel won't be on sale, on contrary new investment of 130 mil Euro is in move
The biggest employer in the east of Slovakia, U.S. Steel Kosice will build a new production line. In Kosice they want to produce special electrotechnical plates from the 3rd quarter of 2020.
2 years ago they were already talks about the sale of this company to the Chinese group He-Steel. In 2016, the corporation had a net loss of 240 mil USD and on 31 January 2018, United States Steel Corporation announced a net profit 341 mil USD. The Slovak government was also alerted and performed activities to negotiate with the management. Certain law suit about lands under the company and a stop from the Chinese government in that time for foreign investment froze the deal as it was stated in Slovak newspaper.< /p>
Today almost 2 years ago it must be stated that U.S. Steel Kosice is back on track and makes again huge profits. This is underlined also with the fact that a new production line worth 130 mil Euro will be lunched in the second half of 2020.This brand new line for the production of grain-free electrotechnical steel (NGO) will be able to produce around 100,000 tons per year. A contract has been signed with and undefined strategic partner who will get most of this product. The company will produce high quality steel for electric cars. Very positive fact that there will be no state support in forms of some subsidies or tax/fee reductions.
Do you want to know more about this topic or other issues related to Slovakia. Don't hesitate and contact us.