Rautaruukki receives approval for AZST-Kolor acquisition

Finnish steelmaker Rautaruukki Corporation announced yesterday that it had received the approval of competition authorities for acquiring Ukrainian company AZST-Kolor CJSC, which owns a color coating production line in Antratsit, eastern Ukraine, with an annual color coating capacity of 80,000 mts. Currently, the line is not in operation; however, it is expected to commence operations in July. As previously reported by SteelOrbis, the transaction price was announced as Euro 4.5 million ($5.78 million). The transaction is expected to be completed within two weeks.