Home
Russian steel producer buys US factory
Uzbekistan News.Net
Friday 9th May, 2008
Russia's largest steel producer Severstal has said it had finalised a deal to purchase the US-based Sparrows Point steel mill from ArcelorMittal for US$810 million.
The US Department of Justice demanded in February 2007 that ArcelorMittal sell Sparrows Point, located in Baltimore County, Maryland, in a bid to prevent the monopolisation of the market after the merger of Mittal Steel and Luxemburg Arcelor.
It then approved in mid-April Severstal's bid to purchase the steel mill.
ArcelorMittal was created in 2006 as a result of a merger between Mittal Steel owned by India-born tycoon L.N. Mittal and Luxembourg Arcelor with Mittal holding a controlling interest.
It is now the world's largest steel producing company and controls 10 percent of global steel output.
 Email this story to a friend
Have your say on this story
|
 |
 |
- Asean cyclone relief talks likely to be held in Singapore
Singapore, May 12 (DPA) Foreign ministers from the Association of South-East Asian Nations (Asean) are likely to meet in Singapore soon to discuss measures to support relief and recovery efforts in cyclone-hit Myanmar, The Straits Times reported Monday. [read story]
- Petition calls for aid workers to enter Myanmar
Singapore, May 12 (DPA) Nearly 2,000 people in Singapore have signed a petition calling on the international community to enter cyclone-battered Myanmar with or without the military government's permission, organizers said Monday. [read story]
- Myanmar cyclone toll rises to 28,458
Yangon, May 11 (Xinhua) The toll in Myanmar's cyclone disaster Sunday rose to 28,458 from the earlier figure of 23,335, the state-run television channel reported. [read story]
- Season's best result for Gangjee in Beijing
Beijing, May 11 (IANS) Rahil Gangjee bounced back in the final round to score a bogey free four-under 68 on the final day of the Pine Valley Beijing Open here and finish tied 21st for his best result of the year. [read story]
- Beijing to standardise 5,174 public toilet plates
Beijing, May 11 (Xinhua) Beijing is to standardise the city's toilet direction plates ahead of the Olympic Games, according to Beijing Youth Daily. The plates, already in use in some places, feature white male and female characters on a blue background, the paper quoted officials with the city government. [read story]
|
|
 |
 |
|
|
