Evraz Group, a world leading vertically integrated steel and mining conglomerate, and TMK, Russia’s largest manufacturer and exporter of steel pipes, have succesgully competed acquisition of American IPSCO from SSAB Svenkst Stal AB.
      
      The estimated cost of assets acquired by Evraz Group is $2.9 billion, while TMK paid $1.25 billion. Besides, Evraz plans to sell another shareholding in IPSCO to $TMK for 500 million.
      
      IPSCO is one of the largest steel companies on the North American pipe market. The company comprises of 21 enterprises in the USA and Canada.
      
      source:
      Russian Business
      
      picture:
      www.ipscointernational.com