Russian pipe maker United Metallurgical Co (OMK) is planning to buy a spring steel mill, Chusovoy Steel Works (ChMZ). OMK hopes to complete the acquisition before the end of the year. Russia's federal anti-monopoly service (FAS) has approved two requests, one by OMK to acquire ChMZ's executive functions and a second by OMK affiliate Jalpark Co to buy 100% of the shares in Metallurgical Investment Co (Metallinvest) which owns ChMZ. A FA asks the two parties to sign a sales policy for spring steel within three months of the acquisition. According to FAS, this policy should be posted on OMK's websites. Early this year, ChMZ has shut down its last blast furnace. The shutdown will make the company loss 200,000 tons per year capacity for merchant pig iron.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66780&division=A9
