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Slovakia Signs Deal With U.S. Steel To Stay

Tue, 03/26/2013 - 9:41am
The Associated Press

BRATISLAVA, Slovakia (AP) — The Slovak government has signed a deal with U.S. Steel that will ensure the American ownership of a steel mill that employs thousands in Slovakia for at least five more years.

Prime Minister Robert Fico says that in the agreement signed Tuesday, "we created conditions to motivate U.S. Steel to stay in Slovakia and continue to produce steel."

The announcement came a day after Fico's meeting with U.S. Steel CEO John Surma in Pittsburgh.

U.S. Steel bought the operations in the eastern city of Kosice in 2000, but Europe's financial troubles have hurt demand for steel and profits at the plant.

The plant, U.S. Steel's last overseas operation, employs about 12,500 people.

Fico said Tuesday that his government will fight for every single job in Slovakia.

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