Russia's biggest steelmaker plans to buy fast-growing PBS Coals, which counts the Quecreek Mine among its operations in Somerset County. OAO Severstal of Cherepovets, Russia, said Friday it will acquire PBS for $1.3 billion to supply its U.S. operations with coking coal.

WHEELING - Russia's OAO Severstal plans to take Esmark Inc. off the public stock market after an upcoming buyout that was nearing completion Monday.

Russian metals and mining company OAO Severstal announced Wednesday it has an agreement to buy West Virginia-based Esmark Inc. for $19.25 per share. Including the assumption of debt and loans, that puts the value of the deal at $1.25 billion.

MOSCOW, June 25 /PRNewswire-FirstCall/ -- OAO Severstal (LSE: SVST; RTS: CHMF; "Severstal", "the Company"), one of the world's leading metals and mining companies, today announced that it has entered into a definitive merger agreement to acquire Esmark Incorporated (Nasdaq: ESMK; "Esmark"), a manufacturer and distributor of flat rolled and other steel products.

Russian power plant supplier Power Machines has signed an agreement with power engineering major Siemens Energy for the licensing of Siemens's advanced gas turbine technology, as part of broader plan to expand co-operation.