Severstal International and Severstal North America's managing director Sergei Kuznetsov has stated that the company is considering to sell its European assets, including Italian subsidiary Lucchini Spa.
"The selling issue concerns all assets in Europe: Italian plants as well as French ones. Currently, we are taking account of offers from several investors", said Kuznetsov, adding that the company is now focused on the Asian and North American steel markets, where business seems to give more opportunities.
A few weeks ago Severstal acquired the outstanding 20.2 percent stake in Lucchini Spa which wa still owned by the Italian Lucchini family.
"Lucchini is recovering from the crisis. Currently, the Italian plants are producing at 85 percent of capacity, this represents a peak for the Italian steel industry at present. 2009 was very tough for the steel markets, but now outlooks are improving, prices are trending up and so is steel demand. In 2010 European steel consumption will post a 20 percent year-on-year increase," concluded Kuznetsov.