Evraz buys 73 percent of Stratcor

Evraz Holding has reported the acquisition of 73 percent of the US based Strategic Mineral Corporation (Stratcor), a major producer of vanadium products, for $110 million. Sojitz, a Japanese trading company, will retain a strategic shareholding. The transaction will be financed from Evraz's own funds. Ervaz Holding, the largest producer of vanadium slag in Russia, had no processing facility to produce vanadium from slag. The transaction will compensate previous absence of vanadium production capacity and ensure strategic exposure of the company to attractive market of high value added vanadium products.