National Steel evaluation body receives new business plans

The National Steel Corp. (NSC) evaluation committee received yesterday new business and financial plans from Allengoal Steel Fabrication and Trading, Cathay Pacific Steel Corp. and Voest Alpine as part of the committee’s additional requirements for the rehabilitation of the shuttered steel plant.

But Allengoal expressed its concern that the request for clarification and more detailed business and financial plans may be an attempt by the committee to give the two other bidders an opportunity to improve, revise and even possibly top the offer submitted by Allengoal.

In two separate letters to the evaluation committee, Allengoal president Alexander Demo said that the business and financial plans should only "be an enhancement to the offer and would not be allowed to change, alter or modify their original proposals."

According to Allengoal, "to allow such change, alteration or modification to these parties’ basic offer would already be constitutive of giving undue advantage to some parties at the expense of another with manifest partiality, evident bad faith or gross or excusable negligence."

Allengoal will also renew and actively pursue its earlier motion with the Securities and Exchange Commission (SEC) indicating that the firm already has a contract to operate the mothballed NSC facilities.