The Strategist

Mining giant Evraz takes interest in bankrupt British Steel division


06/24/2019 - 12:27



Metallurgical and mining company Evraz is interested in buying the French division of British steelmaking corporation British Steel, which produces railroad rails, writes Financial Times, citing sources in the market.



Paul Smith
Paul Smith
The division is called Hayange and employs about 400 people. It is located in the north of France. The company is a supplier of the French state rail carrier SNCF.

British Steel is in a state of liquidation after the UK government refused to support it. EY, which is entrusted to search for new investors for the company, is accepting applications for the purchase of British Steel, either fully or in part, by the end of June.

The French company is interested in several more potential buyers, the newspaper writes.

Evraz is a vertically integrated metallurgical and mining company that includes enterprises in Russia, Kazakhstan, Canada, the USA, Italy and the Czech Republic.

source: ft.com




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