Mittal Steel Hunedoara: 5.3m-euro income in H1

Steel plant Mittal Steel Hunedoara (SIDG) posted a 410.1 million-RON (124.2 million-euro) turnover in the first half of this year, an increase of 10.8% against the same period in 2006. The company’s profit increased by over four times in the first half of last year, from 4.2 million RON (1.18 million euros) to 17.7 million RON (5.36 million euros). The company conducted investments worth 2.7 million RON (830,000 euros) in the first six months of the year, a sum derived from its majority shareholder- Steel Holdings NV, which is a non-repayable sum, according to the privatisation contract. The company is controlled by the Arcelor-Mittal group, which holds 86.58% of the share capital of the Hunedoara-based steel plant through Steel Holdings NV. Another major shareholder in the company is SIF (Financial Investment Company) Banat Crisana, which holds an 11.05% stake.