Russia’s Severstal buys into American rival
Severstal, Russia’s top steel producer, has increased its stake in the US-based steel mill SeverCorr to 85%.
SeverCorr currently produces 1.3 million tonnes of high-quality rolled steel per year. It has a full capacity of 1.5 million tonnes a year, but that's expected to double by 2011. The company employs 450 workers.
Severstal's U.S.-based companies account for 16% of its revenues, a fact that shows the level of importance for the Russian steel producer.
You can share this story on social media:
Follow RT on
Dear readers! Thank you for your vibrant engagement with our content and for sharing your points of view. Please note that we have switched to a new commenting system. To leave comments, you will need to register. We are working on some adjustments so if you have questions or suggestions feel free to send them to feedback@rttv.ru. Please check our commenting policy
