Poldi Steelworks auctioned off for 261 million crowns

The bankrupt Poldi Steelworks was auctioned on Thursday for 261 million crowns.

The former jewel of Czech steelmaking at Kladno has been closed for years and been in insolvency since the end of 2017. The winning bid came from Stanislav Kraslavski, who is based in Switzerland. He said he wanted to restart production as soon as possible.

The starting level for bidding was 160 million crowns with the estimated value of the assets given as 180 million crowns.