Slovakia woos US Steel amid European meltdown | Bangkok Post: news

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Slovakia woos US Steel amid European meltdown

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As meltdown menaces Europe's steel sector, Slovakia is scrambling to keep U.S. Steel -- the country's largest single employer -- from selling off a mammoth factory in Kosice, a gritty eastern industrial hub. 

The US Steel plant in Kosice, Slovakia, November 17, 2012. As meltdown menaces Europe's steel sector, Slovakia is scrambling to keep U.S. Steel -- the country's largest single employer -- from selling off a mammoth factory in Kosice, a gritty eastern industrial hub.

Across the EU, the steel sector accounts for some 360,000 jobs at about 500 factories, but production on the continent has slumped from 22 percent of total world output in 2001 to 12 percent in 2011 on weak demand for cars in Europe and cutbacks at auto plants.

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