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20 Nov, 2006 08:25

Russian steelmaker Evraz to buy assets in the US

Russian steelmaker Evraz to buy assets in the US

Russian steelmaker Evraz has announced it will buy Oregon Steel Mills for $US2.3 billion. Upon completion of the deal, the US steelmaker will become a subsidiary of Evraz.

The deal is still to be approved by anti-trust authorities.

Earlier Evraz announced it plans to buy new assets. The company already has assets in the Czech Republic and in Italy.

The Oregon deal gives Evraz a powerful position in the American steel market.