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Russian giant Mechel - third asset in Romania

de R.R.
Joi, 29 noiembrie 2007, 6:58 English | Business

Russian company Mechel intends to open a third production facility in Romania, buying a local ferro concrete and ironware company, Ductil Steel. Russian experts evaluate the transaction at 45-55 million dollars. Mechel, having its own general manager, Igor Ziuzin, as main shareholder (68.2% of the stock) already submitted the documentation for approval to the Romanian Competition Council, asking to acquire the control stock at Ductil Steel, 50% + 1 share.

Mechel refused to offer any further details regarding the price. Analysts underline the fact that Mechel has a firm position in Romania, where it owns Mechel Steel Targoviste and Mechel Steel Campia Turzii. Yuri Vlasov, analyst at Renaissance Capital, declared for RBK Daily that Romania's accession to the EU provided the Russian company with access to the European market. 

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