The Russian steel mill West-Siberian Steel Works (ZapSib) has acquired 100 percent of shares in Novokuznetsk Iron and Steel Plant (NKMK) - both companies are subsidiaries of the Russian mining and steel producing company
Evraz Group - for Ruble 15.7 billion (about $554 million).
The deal has been carried out under
Evraz's plan, announced in late February this year, to consolidate ZapSip and NKMK into an enterprise that will be named
Evraz-Consolidated West Siberian Metallurgical Combination.
As SteelOrbis previously reported, the annual capacity of the consolidated enterprise will amount to six million mt of pig iron, 8.5 million mt of steel and more than 7.3 million mt of rolled steel products.