Latest SeverStal Stories

By Harris, Linda WHEELING - Russia's OAO Severstal has emerged as a new suitor for Esmark Inc., the Chicago-based steel services and distribution company that recently signed a memorandum of understanding with India's Essar Steel Holdings. Severstal is willing to pay $17 a share for Esmark's outstanding stock, just as Essar is. The Russian company, however, has the support of the United Steelworkers union, which earlier this week vowed to use its contractual protections to block Essar's...

By Joe Napsha, The Pittsburgh Tribune-Review Jun. 14--Pittsburgh will gain another steel company headquarters, if India-based Essar Steel Holdings Ltd. wins the battle to buy Esmark Inc. and its subsidiary, Wheeling-Pittsburgh Steel, the head of Essar-Americas said Friday. Essar Steel, which is competing against Russian steelmaker OAO Severstal to buy Esmark, would move its Essar-Americas headquarters from New York City to Pittsburgh to be close to the new company's operations and give it...

Reportlinker.com announces that a new market research report related to the Metal manufacturing industry is available in its catalogue. World Steel Markets http://www.reportlinker.com/p087369/World-Steel-Markets.html This report analyzes the worldwide markets for Steel in Millions of Metric Tons. The End-use applications for Steel analyzed are Construction, Automotive, Machinery, Domestic/Commercial Equipment, and Others. The report provides separate comprehensive analytics for the US,...

By Joe Napsha Wheeling-Pittsburgh Steel Corp.'s parent firm said Wednesday that a $1.1 billion buyout offer from India's Essar Steel Holdings Ltd. won't save its mill in Allenport in Washington County. Esmark Inc., which merged with Wheeling-Pittsburgh in November, agreed to a $17-a-share offer from Essar that was the best deal among interested buyers, Chief Executive Officer James Bouchard said in a conference call with analysts. The cash offer pays Esmark about 13 percent more than its...