21 May 2004 22:45
Mechel Steel Group takes control of Izhstal
MOSCOW. May 21 (Interfax) - The Mechel Steel Group has increased its stake in Izhstal, a special steels and alloys
producer from Udmurtia, to 58.35%, the group said in a press release.
"The range of steels produced by Izhstal overlaps to a large degree with the products turned out by our company.
Therefore [Izhstal's] inclusion in Mechel Steel Group will strengthen our leading positions on the Russian market
for special steels and alloys and their manufactures. We plan to introduce a single marketing and production
policy," the press release quoted Vladimir Iorikh, the group's general director, as saying.
Izhstal is capable of producing 1.1 million tonnes of crude steel, 1 million tonnes of roll, 38,000 tonnes of
metalware and 17,000 tonnes of forged products a year. It produced 427,000 tonnes of steel in 2030. [RU ASIA EUROPE EEU
EMRG STL MRG STX] pr
[Interfax] |
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