The bankrupt Liberty Ostrava steelworks has been acquired by SPV NH Ostrava, a company owned by former Deputy Prime Minister Martin Pecina, for over CZK 3 bln (USD 143.6 mln), according to local media. The plant, renamed Nova Hut, officially changed ownership on October 1.
The new owner plans to resume production but warned that further layoffs are inevitable. A new collective agreement valid until 2028 has been signed with unions, including a wage increase for employees.
For now, operations will be financed through tolling arrangements, flat and tube mills in partnership with Vitkovice Machinery Trade, and the long products mill with Don Quixote.
CEO Radek Strouhal said investing in a modern electric steel mill would be more viable than restoring outdated technologies. The company is considering building an electric furnace with continuous casting, though this would depend on state subsidies. Alternatively, Nova Hut could operate without primary production, re-rolling purchased slabs, which Strouhal described as a sustainable long-term model.
Ostrava’s steelworks have four blast furnaces with a combined capacity of over 4 mln tons per year, though the last operational furnace was idled in October 2023. The plant can produce HRC, CRC, sections, and wire rod using imported semi-finished steel.
1 USD / 20.8 CZK
