The Ukrainian Metal

Russia: Severstal finalizes deal to sell Balakovo Bar Works

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)

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