Severstal-metiz, a holding uniting metal ware assets of Russian steelmaker Severstal, has closed the sale of Italy’s Redaelli Tecna S.p.A. to Austria’s Teufelberger Wirerope GmbH for 50 million euro, Severstal said in a statement on May 2.
A binding agreement was signed in January.
The sale will allow Severstal-metiz to focus on operations on the Russian market and will ensure a greater value for the shareholders, the company said. (Prime/Ukrainian metal)