Auction Announcement and Sale Conditions
The long-anticipated auction of Huta Częstochowa, the steelmaker that was formerly known as Liberty Częstochowa, is scheduled for February 17, 2025. The starting bid has been set at PLN 226,947,697.85 ($66.8 million), and the sale will be conducted at the Commercial Court in Częstochowa. Interested parties must submit their offers by February 14, 2025, along with a deposit as part of the bidding process. This move comes after the plant was officially declared bankrupt in late October 2024.
In accordance with bankruptcy law, the current lessee, the state-owned coal exporter Węglokoks, has the right of first refusal. If Węglokoks does not submit a bid in the first round of the auction, they will lose this preferential right. However, should another buyer be successful in purchasing the plant, Węglokoks will still have the option to match the winning bid within a month of the sale notification, securing the right to purchase at the auctioned price.
Węglokoks’s Role in the Lease Agreement
Since November 2024, Węglokoks has been the official lessee of Huta Częstochowa, having signed a lease agreement with the bankruptcy administrator of Liberty Częstochowa. Węglokoks created a special-purpose company called Huta Częstochowa Sp. z o.o. to manage the operations and revitalization of the plant. The current lease agreement is set to last until March 18, 2025, with the possibility of an extension until May 18, 2025, should the plant remain unsold by the initial auction date.
Under Węglokoks's management, the plant has begun testing and preparing for full-scale operations. Since December 20, 2024, a variety of tests have been conducted, including cold trials of the furnace mechanisms, continuous casting equipment, and rolling mill operations. The results from these tests have reportedly been successful, indicating a promising future for the plant's technical recovery and readiness for production.
Plans for Revitalization and Industry Involvement
Węglokoks’s plans for Huta Częstochowa include efforts to return the plant to full production, with a particular focus on sectors such as defense manufacturing and energy transformation. These sectors are seen as key opportunities to ensure the plant’s long-term sustainability and economic relevance, especially in light of the global shift towards greener, more energy-efficient industrial practices.
The company aims to leverage the plant’s existing infrastructure and workforce to drive forward these initiatives, potentially transforming Huta Częstochowa into a critical supplier for industries that are poised for growth, including the defense sector and renewable energy. This could help revitalize the plant and secure its place in the future of Poland’s industrial landscape.
Upcoming Relaunch and Key Guests
The full resumption of operations is scheduled for January 20, 2025, marking a key milestone in the plant’s recovery process. On this date, a formal ceremony will be held to celebrate the restart of steel production at Huta Częstochowa. High-profile figures, including Marzena Czarnecką, the Minister of Industry, Robert Kropiwnicki, Secretary of State at the Ministry of State Assets, and Wojciech Saługa, Marshal of the Silesian Voivodeship, are expected to attend the event, signaling the importance of the plant’s relaunch to Poland’s industrial and political spheres.
The Future of Huta Częstochowa
With the upcoming auction and the potential for significant revitalization under Węglokoks’s leadership, Huta Częstochowa is at a crossroads. The auction on February 17, 2025, will determine the future ownership of the plant and its ability to bounce back from bankruptcy. Whether the plant will be acquired by Węglokoks or another bidder, the focus remains on ensuring that the steelmaker continues to be a vital part of Poland’s industrial ecosystem, contributing to both economic growth and strategic industries such as defense and energy transformation.
As the auction date draws closer, all eyes will be on the outcome, with the future of Huta Częstochowa set to unfold in the coming months. The plans for rejuvenation and the involvement of key industries will be critical factors in the plant’s long-term viability.
