Ispat takes over steel mill in Romania
According to recent news in the market, Indian mill Ispat has recently taken over Bucharest based steel mill Sidex Galati. Ispat has agreed to assume debt of Sidex, accounting $351 million. Ispat officials state that, through the acquisition of the Romanian mill, Ispat will be able to show its existence in Central Europe. Moreover, the take over is expected to improve relations between India and Romania.