EvrazHolding plans to increase sales in Russia
Russian steelmaker EvrazHolding is planning to purchase an Asian steel processing plant to avoid import quotas and tariffs on crude steel. Company which owns three steelmaking plants in Siberia, also aims to increase its production by 1.4% to 14 million tons in 2004. 45% of the total production will be exported. Export rate was 47% in 2003 and 50% in 2002. Company officials express that it becomes more difficult every year to take place in the market with big export volumes. EvrazHolding targets to sell 70% of its steel production in Russia in five years. The company sells ready made products in Russia while exporting mostly semi products.