The Russian iron ore and steel producing group Metalloinvest Holding (Metalloinvest) has acquired Kurskvtormet - the largest scrap processing company in the country's Kursk region.
According to Metalloinvest, Kurskvtormet has a potential to process about 150,000 metric tons of scrap per year.
This acquisition will allow the company to further secure scrap supplies for its steel subsidiaries Ural Steel and OEMK.
Kurskvtormet will be incorporated into Metalloinvest's scrap subsidiary Ural Scrap Company (UKM) which was created in 2005 to satisfy the company's needs in this raw material.