US Steel to keep Slovak plant

PRAGUE: US Steel has agreed to stay on for at least five years as the owner of its mill in Slovakia, where it is the country's largest private employer, Slovak Prime Minister Robert Fico said on Tuesday.

Fico signed a deal with US Steel giving the company concessions on energy and environment costs, Fico said. He added that, in return, the company agreed to maintain its employment level, which at 11,000 is the main source of jobs in Slovakia's poorer eastern regions.

"The Slovak government fully understands the significance of US Steel for the region and for all of Slovakia," Fico said at a televised signing ceremony at US Steel's plant in the country's second biggest city of Kosice.