Latest news with #Zenica
Yahoo
23-06-2025
- Business
- Yahoo
ArcelorMittal to sell Bosnian steel plant and mining business to Pavgord Group
ArcelorMittal has entered into a sale and purchase agreement to divest its operations in Bosnia and Herzegovina to Pavgord Group. The divesture will include the integrated steel plant, ArcelorMittal Zenica, and the iron ore mining business ArcelorMittal Prijedor, which supplies the Zenica plant. Despite substantial investments to maintain the Bosnian entities within the group, ArcelorMittal concluded that selling them would be the most beneficial move for their continued development and the welfare of the workforce. The employees of both ArcelorMittal Zenica and ArcelorMittal Prijedor will retain their positions under the new ownership. The financial impact of the transaction will result in ArcelorMittal recording a non-cash loss on disposal of approximately $200m (€173.95m). This figure includes foreign exchange losses that have been accumulating in equity since the initial acquisition of the businesses. The completion of the sale is anticipated in the third quarter of 2025, contingent upon obtaining merger control clearance and satisfying all conditions precedent. Operations will continue without interruption until the deal is finalised, supported by the local and company leadership teams. ArcelorMittal vice-president and ArcelorMittal Europe – Long Products CEO Sanjay Samaddar said: 'ArcelorMittal acknowledges the support of the Government of Bosnia and Herzegovina, and the Government of the Federation and Republika Srpska, during the 21 years that the company has been operating in the country. 'We believe the company will continue to be a major contributor to the economy of Bosnia and Herzegovina. We thank all our employees at ArcelorMittal Zenica and ArcelorMittal Prijedor for their hard work and passionate engagement during all these years and wish them all the best for the future, as well as to Pavgord Group in this new phase.' In a related development, ArcelorMittal South Africa is in talks with the government and other stakeholders over financial support that could delay the planned shutdown of its long steel business. The closure, initially scheduled for April, threatens 3,500 jobs and could disrupt several industries, following unsuccessful negotiations with the government and challenges such as weak demand and infrastructure problems. "ArcelorMittal to sell Bosnian steel plant and mining business to Pavgord Group" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-06-2025
- Business
- Yahoo
ArcelorMittal announces agreement to sell Bosnian operations
ArcelorMittal (MT) signed a sale and purchase agreement to sell its operations in Bosnia and Herzegovina. ArcelorMittal Zenica, an integrated steel plant, and ArcelorMittal Prijedor, an iron ore mining business which supplies the Zenica plant, will be sold to Pavgord Group. The company has made considerable investments and efforts to keep ArcelorMittal Zenica and ArcelorMittal Prijedor within the group. However, after a thorough strategic review, the company concluded that a sale is the best solution for the development of the business and its people. Under the terms of the transaction, ArcelorMittal's shares in ArcelorMittal Zenica and ArcelorMittal Prijedor will be sold to Pavgord Group, and all employees' jobs are transferred to the new owner. Net of sale proceeds, the company expects to record a non-cash loss on disposal of approximately $0.2B. The deal is expected to close in the third quarter of 2025, subject to merger control clearance and the fulfilment of all conditions precedent. Until then, all operations of the company will continue as usual, with the full support of the local management team and the company leadership team. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on MT: Disclaimer & DisclosureReport an Issue Canada imposes steel, aluminum tariffs to curb imports, FT reports ArcelorMittal's Strategic Growth and Expansion in the US Market: A Buy Recommendation Trump Trade: U.S. President says China getting 10% tariffs in 'done' deal U.S., Mexico near deal to remove 50% steel tariffs, Bloomberg reports Trump to increase steel tariffs to 50% from 25%, Bloomberg reports Sign in to access your portfolio
Reuters
06-06-2025
- Sport
- Reuters
Bosnia's women rugby pioneers target Olympic qualification
ZENICA, Bosnia, June 6 (Reuters) - Erna Huseinovic fell in love with rugby after coaching young children at a local club in the central town of Zenica, the home of Bosnia's first women's rugby sevens team. A speedy winger, Huseinovic is preparing with her teammates for their first international competition in Croatia in September. "I found in rugby something that I did not find in other sports," said Huseinovic, a 25-year-old student at the Zenica faculty for sports. "The goal of my team is to achieve success in regional competitions and qualify for the 2032 Olympic Games," she said. Rugby has been played for 50 years in Zenica, and Celik, regular winners of rugby championships in the former Yugoslavia, established the first women's team last year after a previous attempt had failed during the COVID-19 pandemic. "Our goal is to form women's teams in several cities across Bosnia so they can compete in domestic and international competitions," said Mirza Oruc, a vice-president of Bosnia's rugby association and coach of the national women's team. "We want to compete in rugby sevens and qualify for the Brisbane Olympic Games," Oruc told Reuters, adding that sevens was a version of rugby helping to break stereotypes about the tough sport being exclusively for men. Sara Hadzic, 25, heard about rugby at Zenica university, where she studies German language and literature. "I wanted to try something new and different, to meet new girlfriends," said Hadzic, who did karate as a child. "I am playing now recreationally but I might go professional in the future." The mothers of several children training at the Celik club decided to try out the sports themselves. "Rugby is love, friendship, socializing, family," said Brankica Sekerovic. "I have come to the club as a supporter during tournaments and met some wonderful mums ... and then came a love for rugby."
CNA
06-06-2025
- Sport
- CNA
Bosnia's women rugby pioneers target Olympic qualification
ZENICA, Bosnia :Erna Huseinovic fell in love with rugby after coaching young children at a local club in the central town of Zenica, the home of Bosnia's first women's rugby sevens team. A speedy winger, Huseinovic is preparing with her teammates for their first international competition in Croatia in September. "I found in rugby something that I did not find in other sports," said Huseinovic, a 25-year-old student at the Zenica faculty for sports. "The goal of my team is to achieve success in regional competitions and qualify for the 2032 Olympic Games," she said. Rugby has been played for 50 years in Zenica, and Celik, regular winners of rugby championships in the former Yugoslavia, established the first women's team last year after a previous attempt had failed during the COVID-19 pandemic. "Our goal is to form women's teams in several cities across Bosnia so they can compete in domestic and international competitions," said Mirza Oruc, a vice-president of Bosnia's rugby association and coach of the national women's team. "We want to compete in rugby sevens and qualify for the Brisbane Olympic Games," Oruc told Reuters, adding that sevens was a version of rugby helping to break stereotypes about the tough sport being exclusively for men. Sara Hadzic, 25, heard about rugby at Zenica university, where she studies German language and literature. "I wanted to try something new and different, to meet new girlfriends," said Hadzic, who did karate as a child. "I am playing now recreationally but I might go professional in the future." The mothers of several children training at the Celik club decided to try out the sports themselves. "Rugby is love, friendship, socializing, family," said Brankica Sekerovic. "I have come to the club as a supporter during tournaments and met some wonderful mums ... and then came a love for rugby."
BBC News
04-06-2025
- General
- BBC News
The next step or too much to ask? NI earn promotion chance
It wasn't a classic, but it was enough for Northern Ireland to get the job done. The goal had long been for Tanya Oxtoby's youthful side to fight for a chance to earn promotion to League A for the first thanks to Tuesday's 1-1 draw in Bosnia-Herzegovina, they will play in a promotion play-off in the autumn. A draw was all that was required in Zenica, and captain Simone Magill found the opener after being played in by Rebecca Holloway's inch-perfect the hosts hit back as Sofija Krajsumovic capitalised on some soft defending to bring Bosnia wasn't the dramatics from the reverse fixture in February in Larne, when Magill netted two late goals for a 3-2 win, but it was mission hindsight, that victory was crucial and ultimately the difference between facing a relegation play-off and having a shot at the big time."We needed a draw to get into the position of a play-off and we've got that. That's the main thing," former Northern Ireland captain Marissa Callaghan said on BBC Sport NI commentary."It's been the same sort of theme from the campaign where we start off really well, get our goal and you just want them to kick on a go for a second or maybe even a third. "But then we've given away a soft goal and it just changes." Will NI close the gap to Europe's elite? Callaghan had touched on what has been a frustrating theme from NI's Nations League campaign. There has certainly been bright moments from the youthful squad, but the lack of a full 90-minute performance has left points on the table after conceding soft goals - most notably in the draws with Romania and Bosnia. It has been a campaign of transition for the squad, with debuts handed to teenagers Kascie Weir, Aimee Kerr and Abi such as Rebecca McKenna, Joely Andrews, Keri Halliday, Danielle Maxwell and Brenna McPartlan, all in their early 20s, have taken more steps forward as leaders in the team, popping up with pivotal the top end of experience, Magill has led the way, but players such as Lauren Wade, Jackie Burns, Holloway and Rachel Dugdale have had their moments the campaign has been inconsistent, the blend in the squad shows things are pointing towards a bright the positives, such as the flowing first-half football at home to Romania and defensive solidity in the second half away in Poland (albeit when the team were already 2-0 down) can start outweighing the negatives then the team will continue to move in the right direction. Is it enough for Northern Ireland to take the next step and join the top tier of European football? Time will tell. The 7-0 aggregate defeat by Norway in the Euro 2025 play-offs showed that Europe's elite are on a different level, and the two Nations League games with Poland suggested there's work to do to close the gap to the best of the rest in the autumn they will get another opportunity to try and bridge that gap in a promotion play-off. They will be drawn against either Iceland, Denmark, Belgium or Austria, and will have nothing to lose as the underdogs - a tag which has suited Northern Ireland well in the past. "They would be really tough games. Iceland might be a team we would hope to get, but all four of them are League A teams who have qualified for major tournaments in recent years," Callaghan added. "We've played Austria and we know what they are capable of, but you can only take it one game at a time."Tanya and her team will make sure they do their homework on the opposition and set up accordingly."Even if the step up to League A is out of reach in the autumn, Callaghan doesn't necessarily believe that staying in their current tier would be a bad outcome."We're bringing a lot of youth into the squad and there are so many players who have less than 10 caps or just come out of the Under-19s. "So, to expect them to go up to League A and compete, I think it's a little bit too much to ask."We have a few 30-year-olds in terms of experience. Listen, League B has been a good league for us and it's been challenging for us."
