Jul. 21, 2014, 3:35 AM
- Severstal has announced that it will sell two of its North American steel plants to Steel Dynamics (NASDAQ:STLD) and AK Steel (NYSE:AKS) for $2.3B.
- The Russian steelmaker is attempting to rid its international assets to cut costs.
- Since last year, the company has been looking to sell the two plants, and the sale is not tied to the tensions over the Ukrainian crisis.
- Severstal reported EBITDA of $2B in 2013 - a 4% drop from 2012.
Other News & PR