Severstallat, a wholesale trade and metal services subsidiary of the Russian steel producer Severstal, has announced the acquisition of the Polish company Technologie Buczek for a consideration of €15 million.
Technologie Buczek owns four pipe mills with a total annual production capacity of 70,000 metric tons, and also two slitting lines, a 50.72 percent stake in Buczek Automotive and a 100 percent stake in transportation company Przedsiebiorstwo Uslug Transportowych SAMKOL.
A new company called Severstallat Silesia has been created under Severstallat to manage the assets of the newly acquired Technilogie Buczek.
Severstallat plans to use the newly acquired assets to set up a production and storage facility for the processing and distribution of metal products.