03
Feb
16:10
Zagorsk Pipe acquires Ural Steel after 1.5-year delay
Metalloinvest has agreed to sell its Ural Steel plant to Zagorsk Pipe Works (ZTZ), with the deal due to be finalised this month, the companies say. Negotiations started two years ago, but the companies parted ways in summer 2020, having decided to develop their assets independently, after ZTZ had received all the necessary anti-trust permissions.
The $500 million deal, subject to adjustments, includes the continuation of Ural Steel's long-term merchant pi…
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Very good overview of the weekly steel market.
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