Steel Mills
Esmark Steel Negotiating for Serbian Steel Mill
Written by Sandy Williams
September 10, 2014
Esmark Steel Group is continuing to pursue the purchase of Serbian steel mill Zelezara Smederevo but is waiting for sale or lease approval by the Serbian government. A spokesperson for Esmark said the company is returning to Serbia next week for continued negotiations and expects the government to announce the final bidders at that time.
Smederevo Steel works was sold to US Steel in 2003 for $23 million and was a major exporter of steel until 2012 when the Serbian government repurchased the company for $1.00.
“We are doing our best to find a solution and a strategic partner for Smederevo steelworks, which creates huge losses for the country,” said Serbian Prime MinisterAleksandar Vucic.
“We are ready to help anyone who would take over Zelezara steelworks as it is not only the interest of 5,200 families in Smederevo whose members work there, but of the entire Serbia,” added Vucic.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.