Russian state arms exporter seeks to enter steel business

The Russian state arms export monopoly Rosoboronexport is reportedly seeking to buy Volgograd-based Red October Steel Works, which is owned by Canadian Midland Group. A Rosoboronexport representative confirmed the company's intention to enter the steel business, but said that it was too early to speak about the company's interests in the Volgograd mill. Red October Steel Works specializes in the production of bloom, rebar, plates, hot rolled sheets and flats from stainless grades of steel.