Press releases

The modernization of Big Mannesmann, the key production line of the Třinecké železárny operation in Ostrava, where the company produces pipes, will take four years. The tube rolling mill modernization will start in September this year. The goal of the investment for almost CZK 25 million is primarily to increase the quality of seamless tubes.

An amendment to the collective agreement concerning wage growth was signed on Tuesday 15 December by the management of Třinecké železárny with representatives of the Trade Union organizations of KOVO Třinecké železárny. Both parties have agreed on wage growth next year starting from 1 January 2021.

Třinecké železárny has concluded 2019 with the company's profit of CZK 610 million. This is the lowest economic result since the economic crisis in 2008. The financial results were approved by the General Meeting of the company on Monday, June 29.

All administrative buildings of Třinecké železárny have started using energy exclusively from renewable sources. Likewise, a chemical water treatment plant is operated for green energy all year round.

Třinecké železárny is going to be ready for a difficult year. Last year's decline in demand and the downward pressure on prices of products had a negative impact on the preparation of financial plan. Already last year, the company reduced the planned investments by CZK half billion. Plan for this year is in amount of CZK 1.4 billion.

Production of hydrogen from coke oven gas as well as increasing the potential of steel utilization in environmental sectors. In addition to looking for options to address the European Union's requirements for reducing CO2 emissions, these are the key topics for further steps towards greening production at Třinecké železárny (TŽ).

On Monday, June 24, the General Meeting of Třinecké železárny concluded the year 2018. Despite the difficult situation on the steel market, the Company achieved a profit of CZK 3.33 billion after tax last year. Revenues from the sale of products, services and goods amounted to CZK 40.496 billion. This is CZK 4.637 billion more compared to 2017.

In 2017, Třinecké železárny (TŽ) earned CZK 35.859 billion for sales of products and semi-products. It was CZK 3.64 billion more than in 2016. Today, the General Meeting has concluded the company's profit with CZK 1.424 billion, representing a slight decrease compared to 2016 despite the higher sales volume.

Steel maker Třinecké železárny plans to invest more than three billion Czech crowns in modernisation and equipment renewal this year, with almost one third of the amount being earmarked for the environmental projects. It is the most significant financial expense for the last ten years. In Třinec it refers to super renewal year when major transformation will pass through the heart of mills – blooming mill. Minor changes are also awaiting for the steel and iron production plant, company builds new facilities to increase the added value and the production quality during the finalization processes.

The Collective Agreement guarantees employees of Třinecké železárny earnings growth for the current year. Appendix dealing with the wage growth was signed by the senior management of steelworks together with representatives of ZO OS KOVO (the unions) on Monday 30 January 2017.