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Reuters: Hungary Offers to Buy Steelmaker Dunaferr to Save Jobs
08/20/2013 - Hungary's government will offer to buy back the loss-making steelmaker Dunaferr from Ukraine's ISD group, to prevent a layoff of 1,500 workers planned by the company, Economy Minister Mihaly Varga said on Monday, according to a Reuters report.
"If the firm says that it makes a loss ... I think it is a fair offer from the government to say that we should sit down and talk about how we could reverse the bad privatization (which happened) in 2004," he told HirTv after a government meeting.
A takeover would guarantee the jobs of 7,500 workers employed by Dunaferr in Dunaujvaros, a town 60 kilometers south of Budapest, in the long term, Varga said…
