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Russian steelmaker Severstal buys American coal miner for $1.3 billion

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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-23-08 11:21 AM
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Russian steelmaker Severstal buys American coal miner for $1.3 billion
Severstal is expanding in the US to take advantage of a weaker dollar, which has made the nation's steel exports more competitive. Company owner Alexei Mordashov said in June he's seeking iron-ore and coal assets in the US to protect the company from surging prices for its main raw materials. Metallurgical coal is used as both a fuel and reducing agent in steelmaking.

http://www.domain-b.com/management/m_a/20080823_severstal_buys.html
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rox63 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-23-08 11:25 AM
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1. I assume you meant to say "mine" rather than "miner"
Otherwise, that would be one valuable guy.
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