Industry sources guarded about prospective Evraz-Severstal tie-up

Dec 14, 2011 | 08:00 AM |

Industry observers are taking a guarded view of comments by Evraz group chairman Aleksandr Abramov that merging his company with fellow Russian steelmaker Severstal would be a “good idea”, ascribed in an interview in the UK’s Financial Times daily newspaper. “I guess that [the idea of an Evraz/Severstal combination] would have several advantages,” the FT quoted Abramov as saying on December 13. However, no serious discussions between the two parties have yet begun, Abramov also said. A Severstal spokewoman declined to comment on Abramov’s comments, while an Evraz source claimed that the group chairman’s comments were only part of a larger interview. Merging the two companies would result in a wide breadth of products in one....

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