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U.S. Steel Serbia Mill Changes Name to Zelezara Smederevo - Media

U.S. Steel Serbia Mill Changes Name to Zelezara Smederevo - Media

BELGRADE (Serbia), February 7 (SeeNews) – The U.S. Steel Serbia steel mill was renamed to Zelezara Smederevo after the Serbian government took over the loss-making plant from the Pittsburgh-based steel giant, local media reported.

The city council of Smederevo gave the green light for the use of the city's name in the company’s official name, news agency Tanjug (www.tanjug.rs) said on Monday.

The Serbian government on January 31 signed a deal to buy back the plant in Smederevo for a token price of $1.0 (0.77 euro) in a bid to avoid its closure and save over 5,000 jobs, after U.S. Steel decided to leave Serbia because of the global economic crisis.

U.S. Steel bought the plant in Smederevo, about 60 kilometres southeast of Belgrade, in 2003.

($=0.7666 euro)

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