Mechel acquisition to boost Yildirim's ferrochrome offering

Aug 02, 2013 | 01:21 PM | Daniel Fitzgerald

Tags  Mechel, Yildirim Group, ferrochrome, chrome, Daniel Fitzgerald

NEW YORK — Yildirim Group will be able to offer a wider chemistry of ferrochrome in the U.S. market following its acquisition of Mechel OAO’s ferrochrome assets.

Russian coking coal and steel producer Mechel agreed to sell its chrome mine in Kazakhstan and its Russian smelting operation to Turkey’s Yildirim for $425 million, Mechel said Aug. 1.

The acquisition "will give us more variety to offer as the chemistry is different than our material" and will help "get our name out there for those who still don’t know how big we are," a source at Yildirim told AMM.....

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