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Mechel acquires Romania's Ductil Steel for $221 mln

Russian coal miner and steel maker Mechel has acquired 100% of Romanian steel bar and wire rod producer Ductil Steel for €142 million, the company said.

New York-listed Mechel said in a statement the purchase price included 180,000 ordinary shares from a company called Lakewind Ltd.

Ductil Steel produced about 340,000 tons of crude steel last year, as well as 320,000 tons of steel billet, 180,000 tons of rebars, 105,000 tons of wire and 68,000 tons of wire rod, Mechel said. (Reuters)