Press Release: Czech and Polish steel restructuring: Further efforts needed

The European Commission on 3 August 2005 published its second monitoring report since enlargement on the steel industry in the Czech Republic and Poland. The report highlighted the risk that steel companies in these countries might fail to achieve viability by the end of the foreseen restructuring period in December 2006. Despite exceptionally favourable conditions on the steel market, some of them were still underperforming. The situation had arisen through accumulated delays in the restructuring process, in particular in relation to investment programmes, which needed to be reinforced, and efforts for reducing costs needed to be continued.