In early January 2018, VÍTKOVICE STEEL signed an agreement for loans to cover operational financing in the amount of 26,077,000 Euros with a club of banks consisting of Citibank Europe and Všeobecná úvěrová banka, a.s. (Universal Credit Bank).
The company will use the two-year loan to optimize its current financing and to increase production. “This loan is the logical continuation of our existing cooperation with Citibank. It will help us reduce the cost of financing production considerably. We see the signed agreement as a sign of trust in the management of the company, while recognizing the results of the transformation of the company carried out in 2014-2016,” said CEO and Chairman of the Board Dmitry Ščuka on this significant financial development.