Russia’s United Metallurgical Co (OMK) has completed buying spring steel producer, Chusovoy Steelworks, which occupies 60% share of the Russian spring steel market.
OMK had ever owned Chusovoy between 1997 and 2011.
In 2014, OMK plans to unfold a US$1.5 billion plan to transform Chusovoy into a 0.9 million ton/year EAF-based integrated tube and steelworks which OMK targets to run by 2018.
The new project will develop pipe billet and wheel blocks, seamless OCTG and other products.