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  mass-media about company
22 May 2008
Severstal-Metiz mulling acquisitions in Russia, abroad
Severstal-Metiz, the hardware division of Severstal (RTS: CHMF), is thinking of acquiring new assets in Ukraine, Russia or Europe, Olga Naumova, the company's director, said during a conference call."We're not going to go on a wild spending spree. We'll be focusing on the quality of our product portfolio," Naumova said.
The company is considering various forms of investment, including organic growth and acquisitions, and business partnership, she said.
Severstal-Metiz recently consolidated 95% of the shares in Ukraine-based Dniprometiz after buying 34.6% of the plant from the TAS Group.
Severstal-Metiz includes the Cherepovets, Volgograd and Oryol hardware plants in Russia, Dniprometiz in Ukraine and Carrington Wire Limited in Britain, acquired in April 2006. It produces more than 1 million tonnes of hardware last year, when EBITDA soared 80% to $87.3 million.
Interfax
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