Severstal has finalized the deal to sell Severstal Balakovo Bar Works to Abinsk Electrometallurgical Works.
The cost of the deal is $215 million.
The sale will let Severstal focus on the steel manufacture at its main asset – Cherepovets Iron and Steel Works.
Despite the sale of Balakovo Bar Works, Severstal retains its presence on the bar market with the CherMK capacities. (Ukrainian metal)