Mechel denies Donetsk-based ISTIL acquisition rumors

It is reported that Mechel, one of the leading Russian mining and steel groups, has denied the media rumors that it is in the process of acquiring the Ukrainian steel producer Donetsk Electrometallurgical Plant, the mini-mill previously known as ISTIL.
Mr. Alexander Tolkach, director of Mechel’s department of communications, said “We categorically deny this information.”
Donetsk Electrometallurgical Plant has a capacity of more than one million tons of crude steel per year, and specializes in the production of round billets of special grades and also in the production of continuous cast round and square billets. In August 2009, management of the plant was taken over from Russian steel producer Estar Holding by A1, a company owned by Russian investment conglomerate Alfa Group. (SteelOrbis)