On Friday, Minister for National economy Mihály Varga held talks with the representative of the Russian-owned ISD Corporation Yevgeny Potapov about the future of the Dunaferr conglomerate. At the meeting, Mihály Varga said that the Government maintains the intention to purchase the company and they will do everything in their power to preserve the jobs of company employees.

President of the Hungarian Energy and Public Utility Regulatory Authority Lajos Dorkota and Minister of State for Employment Sándor Czomba also participated at the event.

Dunaferr ISD Ltd is the largest employer within the Hungarian steel sector. Its legal predecessor, Dunaferr Dunai Vasmű Ltd, was privatized under the Socialist governments, in 2004, for only HUF 444 million.

As it is widely known, after the downsizing announced at Dunaferr, the Government entrusted Mihály Varga to commence negotiations with the company’s owner for purchasing the firm. Minister of State for Employment Sándor Czomba and Dunaferr Chief Executive Yevgeny Tankhilevich had held regular meetings and came to the agreement that while negotiations are going on the company does not implement lay-offs.

(Ministry for National Economy)