FACTBOX: Russian investment in North American steel
May 26th, 2008 | by admin |MOSCOW (Reuters) - Russian steel companies, owned by some of the country’s richest men, have invested about $9 billion in the last few years buying up steel melting and rolling assets in the United States and Canada.
Russian companies, led by Severstal (CHMF.MM: Quote, Profile, Research) (CHMFq.L: Quote, Profile, Research) and Evraz Group (HK1q.L: Quote, Profile, Research), have accumulated 9.1 percent of steel capacity in the United States, according to a Reuters calculation from data supplied by London-based consultancy CRU.
Novolipetsk Steel (NLMKq.L: Quote, Profile, Research) and TMK (TRMKq.L: Quote, Profile, Research) are also among the Russian investors in the North American steel sector.
The United States ranks third among world steel producers behind China and Japan, last year accounting for 7.2 percent of global output. Russia, the fourth-largest producer, had a 5.4 percent market share, International Iron and Steel Institute data shows.
Following are some of the main North American steel assets owned, or in the process of being acquired by, Russian companies:
SEVERSTAL (CHMFq.L: Quote, Profile, Research)
Main owner: Alexei Mordashov
Personal fortune (according to Forbes Magazine in March 2008): $21.2 billion (world’s 18th-richest man)
Its U.S. assets are grouped as Severstal North America:
