Steel is the future
Steel is the future
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29. 5. 2024
Sympozium is focused on the design, construction, reconstruction and maintenance of road and railway bridges in the Czech Republic and worldwide. VÍTKOVICE STEEL presented technological innovations, sustainable approaches and current projects. Steel is the future.
Thank you to SEKURKON s.r.o. for the partnership, business meeting and presentation.
More info about Sympozium: https://www.sympozium-mosty.cz/
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1. 5. 2024
VÍTKOVICE STEEL organized a #STEELish Open Day for the families of employees, the media, as well as former retired colleagues.
On Wednesday, May 1, Vítkovice Steel employees had the opportunity to take their relatives to the production plant and show them where other workplaces of the steel company work.
Exactly 430 people took advantage of the opportunity, which takes place only one day a year.
THANK YOU to everyone who participated in the organization and preparation.
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17. 7. 2023
Within the framework of the Operational Programme Enterprise and Innovation for Competitiveness, Vítkovice STEEL, a. s. implemented a project entitled “Replacement of Ward converters – Leonard II” Project Number CZ.01.3.10/0.0/0.0/18_183/0017753.
The aim of the project was to replace the existing Ward-Leonard rotary converters for the drives of the rolling line on the heavy section line (TPT) with modern solid-state converters. The implementation of the project resulted in savings in electricity and operating water consumption.
This project was implemented with financial support from the European Union.
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Press releases
27. 12. 2024
Jindal Steel International officially becomes the new owner of VÍTKOVICE STEEL. The Office for the Protection of Competition has cleared their merger. Jindal Steel International acquired 100 percent of the shares of the Ostrava-based company by buying the shares from the previous owners. VÍTKOVICE STEEL thus becomes a member of a strong industrial group that is moving towards green steel.
In its decision, the Office for the Protection of Competition confirmed that the merger between Jindal Steel International and VÍTKOVICE STEEL will not result in a significant distortion of competition and therefore cleared the merger.
“This is a great event for the company and especially for the future. We are convinced that this will strengthen the company and the Czech steel industry. The new industrial owner will bring stability and, above all, development to the company in the form of investments in production technologies, sharing of foreign know-how and moving towards environmentally produced low-emission steel,” said Radek Strouhal, CEO of VÍTKOVICE STEEL.
VÍTKOVICE STEEL has been cooperating with the Jindal Group for more than a year in the field of operational financing and this spring concluded a binding memorandum of mutual business cooperation on the supply of input material produced with low CO₂ emissions and minimal environmental impact. It has thus secured low-emission steel slabs from Oman in volumes of up to one million tonnes per year. Thanks to the partnership with the Jindal Group, VÍTKOVICE STEEL can become one of the first producers of green sheet metal in Europe and significantly strengthen its competitiveness and market position.
“The steel industry in the Czech Republic is known for its long tradition and Vítkovice Steel has the know-how, quality products, experienced employees and a good reputation as a stable supplier. These are the main prerequisites for long-term cooperation. We see great synergies between Jindal Group and Vítkovice Steel. We want to be a strategic investor and develop and expand production in Ostrava,” said Harssha Shetty, CEO of Jindal Shadeed Iron & Steel in Oman, when announcing the acquisition.
VÍTKOVICE STEEL is the first European acquisition for Jindal Group. The international group intends to invest up to EUR 150 million in the development of the company in Ostrava in the coming years, mainly in the expansion of the capacity of rolled sheets and the production of products with higher added value. Along with the investment and development of the company, new jobs are expected to be created. Already in the last year of cooperation with the Jindal Group, the number of VÍTKOVICE STEEL employees has increased by several dozen.
VÍTKOVICE STEEL, a. s. is a traditional European producer of rolled steel products, the largest producer of steel plates in the Czech Republic and the only producer of sheet metal in the Czech Republic. The company employs over 800 people. Most of the products of the Ostrava company are used in the construction and engineering industries. 70 % of the products sold go abroad.
JINDAL GROUP is a global industrial group with a dominant position in the steel, energy and mining industries, whose global investments have reached USD 25 billion. It produces 12.6 million tonnes of steel per year and 7,000 MW of electricity. It employs more than 50,000 people worldwide. It has a fully integrated supply chain, including iron ore and metallurgical coal mines. The steel arm of the group is currently undertaking a major global expansion to expand steel production from 12.6 MTPA (million tonnes per annum) to 30 MTPA by 2030, and the group is also pursuing similar growth in its power and mining verticals aimed at transitioning to low-carbon energy.
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7. 11. 2024
After many years of losses, VÍTKOVICE STEEL has made a profit again. Although the steel industry is facing serious problems, the company reported a profit of CZK 331 million for 2023. This is the best result in more than 15 years. The main contributors to this result were the acquisition of a new financial partner and an increase in production.
“The steel industry is facing many challenges, but last year was a successful year for us and even the most successful compared to previous years. We were able to increase production thanks to good organisation of production and favourable demand, and especially thanks to the establishment of financial cooperation with the JINDAL Group. This had a very positive effect on the economy,” explained Radek Strouhal, CEO of VÍTKOVICE STEEL.
Revenues from the sale of own products, services and goods in 2023 reached CZK 12 billion and the profit after tax amounted to CZK 330.8 million, which is the highest figure in the last 15 years. The company ended 2022 with a loss of CZK 550 million.
The steel industry is plagued by high energy prices, tightening environmental regulations, cheap imports from non-European countries and weakening demand. However, VÍTKOVICE STEEL has managed to maintain its business relationships, product quality and reliability of supply, and following a change in the provider of operating financing, it has managed to significantly increase production. Last year, production increased by 37% compared to 2022, when the company faced financial difficulties. In 2022, the company produced 350,000 tonnes of hot-rolled steel products, and in 2023, the company returned to the production level of half a million tonnes per year, exactly 480,000 tonnes.
The world-famous industrial group JINDAL Group has recently strengthened its involvement in Ostrava and its company Jindal Steel International will become the owner of VÍTKOVICE STEEL, following approval by the Antimonopoly Authority. The new industrial owner will bring the company stability and, above all, development in the form of massive investments in the modernization and expansion of production technologies, sharing of foreign know-how and a move towards environmentally produced low-emission steel. “We believe that this turnaround will herald further positive developments for our company, which has historically gone through a very difficult period following the closure of its own steel production through the gradual stabilisation of the model of rolling over purchased steel slabs to the consequences of the war conflict in Ukraine,” the CEO added.
During 2023, the company continued its long-term development through investments. For example, a new compressor station was built and workstations were robotized for the installation of identification labels on sheet metal and cranes were further renovated. Investments continued to increase employee safety and improve the working environment, and investments were also directed towards reducing energy consumption and CO2 emissions, optimising the use of raw materials and minimising waste generation.
VÍTKOVICE STEEL produces steel plates, sheet metal and shaped products. They are used in the construction, engineering and energy sectors. The key markets for the company are EU countries. Recently, demand has been weak in Germany, but the company has been successful in the Czech, Slovak and Polish markets and has also started to supply Ukraine.
VÍTKOVICE STEEL, a. s. is a traditional European manufacturer of rolled steel products, the largest producer of thick steel plates and the only manufacturer of sheet piles in the Czech Republic. The company employs almost 900 people. Most of the products of the Ostrava company are used in the construction and engineering industries. 70 % of the products sold go abroad.
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7. 10. 2024
VÍTKOVICE STEEL will have a new strong owner who will provide it with green steel and investment in development. The owner will be Jindal Steel International from the world-famous industrial group Jindal Group, which is active not only in the steel industry, but also in the energy and mining industries. By purchasing the shares from the current owners, the company will acquire 100 percent of the shares in the Ostrava company.
“This is a strategic step and we are convinced that it will strengthen the company and the Czech steel industry. The new industrial owner will bring the company stability and above all development in the form of massive investments in modernisation and expansion of production technologies, sharing of foreign know-how and moving towards environmentally produced low-emission steel,” said Radek Strouhal, CEO of VÍTKOVICE STEEL.
VÍTKOVICE STEEL has been cooperating with Jindal Group for more than a year in the field of operational financing after Jindal Group stabilized its financial situation last year. This spring, VÍTKOVICE STEEL and the Jindal Group entered into a binding memorandum of mutual business cooperation for the supply of input materials produced with low CO2 emissions and minimal environmental impact. The Ostrava company has thus secured low-emission steel gates from Oman in volumes of up to one million tonnes per year. Thanks to the partnership with the Jindal Group, VÍTKOVICE STEEL can become one of the first producers of so-called green sheet metal in Europe and significantly strengthen its competitiveness and market position.
“The steel industry in the Czech Republic is known for its long tradition and Vítkovice Steel has know-how, quality products, experienced employees and a good reputation as a stable supplier. These are the main prerequisites for long-term cooperation. We see great synergies between Jindal Group and Vítkovice Steel. We want to be a strategic investor and develop and expand production in Ostrava,” said Harssha Shetty, Managing Director of Jindal Shadeed Iron & Steel in Oman.
VÍTKOVICE STEEL is the first European acquisition for Jindal Group. The international group intends to invest up to EUR 150 million in the development of the company in Ostrava in the coming years, mainly in the expansion of the capacity of rolled sheets and the production of products with higher added value. Along with the investment and development of the company, new jobs are expected to be created. Already in the last year of cooperation with the Jindal Group, the number of VÍTKOVICE STEEL employees has increased by almost 100 people.
A prerequisite for the investor’s entry was the completion of the investigation by the Financial Analysis Authority, which had blocked the company’s disposal of shares since 2022 by way of a preliminary measure. As the suspected ownership link to Russia, which the company has denied all along, was not confirmed, the authority closed the investigation in July. The restriction is now over and investors can buy shares in the company.
The entry of the investor has yet to be assessed by the Antimonopoly Office.
VÍTKOVICE STEEL, a. s. is a traditional European producer of rolled steel products, the largest producer of steel plates in the Czech Republic and the only producer of sheet metal in the Czech Republic. The company employs over 800 people. Most of the products of the Ostrava company are used in the construction and engineering industries. 70 % of the products sold go abroad.
JINDAL GROUP is a global industrial group with a dominant position in the steel, energy and mining industries, with global investments of USD 25 billion. It produces 12.6 million tonnes of steel annually and 7,000 MW of electric power. It employs more than 50,000 people worldwide. It has a fully integrated supply chain, including iron ore and metallurgical coal mines. The steel arm of the group is currently undertaking a major global expansion to expand steel production from 12.6 MTPA (million tonnes per annum) to 30 MTPA by 2030, and the group is also pursuing similar growth in its power and mining verticals aimed at transitioning to low-carbon energy.
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VÍTKOVICE STEEL, a.s. has an environmental product declaration (EPD) for sheet piles and hot-rolled heavy plates
The information system QUICKLOOK provides the individual customers with detailed information about a contract and its status in production and expedition.
It is accessible after registration at the contact address 📧 tradesteel@vitkovicesteel.com