Stomana Back from the Dark.

16.03.2000

According to representatives of Stomana’s management, since the lease of the plant’s main production to Eurometal and Metal Traders the company is no more loss making. In February Stomana's output was 29 000 tonnes of metal, due to go up to 40 000 tonnes in March. 80-85% of the production is for export to EU states and to the USA. In the last month the price of the Stomana-made metal went up by 10% reaching USD 250 per tonne. Stomana’s receiver told the journalists that the rehabilitation programme of the enterprise is underway. Whether Metal Traders and Eurometal will work jointly at Stomana or separately will be clear by the end of this week. In both cases Metal Traders will strictly keep its commitments under the lease contract. Most of the financing for production and marketing has been ensured by the German partner. The two companies have confirmed their firm intention to buy the works