The Serbian government will on Tuesday form a working group in ćarge of maintaining production in U.S. Steel Serbia on the initiative of Serbian Prime Minister Mirko Cvetkovic, Tanjug learned at the prime minister's cabinet.

The government's goal is to find a better solution for the major steel producer, all its workers, so as to maintain the production proceš, the cabinet noted.

U.S. Steel released earlier that its financial results are unačeptable, and that it intends to explore all options so as to improve the current situation.

The economic situation in Europe, particularly Southern Europe where the U.S. Steel production facilities are located, is rather difficult, the release reads.

On January 9, the company decided to shorten its working week, so now most of its workers are being given one day of paid leave per week. The company's officials explained that the current economic situation has had a major effect on the steel market and customers'orders.

Besides the Smederevo-based iron and steel plant, U.S. Steel comprises 3 other units - in Sabac, Kucevo and Port (Smederevo), whić hire a total of 5,400 workers.