The Russian mining and steel producing company Evraz Group (Evraz) has expanded its ferrovanadium business by acquiring the Czech Republic-based ferrovanadium producer Nikom, Evraz's Annual Report and Accounts 2007 says.
According to the newly-released document, Evraz acquired a 100 percent stake in Nikom on December 20, 2007, for a total consideration of $43 million in cash. The company has been incorporated into Evraz's other Czech Republic-based subsidiary, Vítkovice Steel.