Board member of (10,35 EUR, 1,56%) Ostrava (AMO) Jan Rafaj said operations are stabilized in Ostrava for at least two years after a 53 mln. USD investment to modernize the plant. While the investment allows the unit to produce higher- quality steel and increase exports to markets such as Saudi Arabia, its long-term prospects remain uncertain as prices and demand for construction steel in Europe remain low, Rafaj said. He added that the investment should stabilize the plant for two to three years, but it’s not a long-term solution. / has already closed plants in western Europe at Liege in Belgium and Florange in France and has said it’s considering shuttering plants in eastern Europe as it battles falling demand in its biggest market. NEUTRAL for (28,6 CZK, -0,87%) in our view at the moment. AMO is the largest customer of buying of about 1/3 of NWR’s coking coal production.