Russian pipe producing company United Metallurgical Company (OMK) has announced its acquisition of Russia-based Chusovoy Steel Works (ChSW), one of Europe's largest producers of car springs. ChSW manufactures 400 types of springs, which are delivered to all of Russia's largest car manufacturing plants and are also exported abroad.
According to OMK, the ChSW acquisition was part of the announced plans to create an integrated pipe and steel making complex to produce seamless pipes, spring plates, and billets for railcar wheels in Chusovoy. The complex is one of the largest metallurgical projects in Russia. The total volume of investments into the project for 2014-2017 is to amount to RUB 50 billion ($1.5 billion).
The project includes the construction of an electric arc furnace with an annual capacity of 1 million mt of steel and a pipe making production facility with an annual capacity of up to 50,000 mt.
