Saturday, September 25, 2010
Severstal Restructuring North American Operations
WEST VIRGINIA....
Severstal is in the process of restructuring it's North American operations, and, as a result, has put three mills on the auction block. According to American Metal Market, U.S. Steel Corp. and India's Essar Steel are two of the five companies interested in the U.S. steel mills put up for sale by Severstal. U.S. Steel's interest is limited to the Severstal Wheeling assets, while Essar is interested only in Severstal's Sparrows Point Mill. Such limited interest makes the two steelmakers longshots to succeed in their bids. Other bidders have made offers for all three mills.
Severstal is in the process of restructuring it's North American operations, and, as a result, has put three mills on the auction block. According to American Metal Market, U.S. Steel Corp. and India's Essar Steel are two of the five companies interested in the U.S. steel mills put up for sale by Severstal. U.S. Steel's interest is limited to the Severstal Wheeling assets, while Essar is interested only in Severstal's Sparrows Point Mill. Such limited interest makes the two steelmakers longshots to succeed in their bids. Other bidders have made offers for all three mills.
# posted by Homer Owens @ 2:10 PM 
