18 Oct 2019 18:43

Evraz considering possibility of selling Italian plant - CEO

LONDON. Oct 18 (Interfax) - Evraz is considering the possibility of selling its Palini e Bertoli plant in Italy, the company's CEP Alexander Frolov said.

"We are studying various options with regard to the Italian asset, including its sales, but it's too early to make any announcements at this time," Frolov said, adding that there are already potential buyers.

Earlier, foreign media outlets reported, citing sources, that Italian steelmakers Marcegaglia or Tecnosider, with which Evraz is in talks, could acquire the plant.

Palini e Bertoli is a rolling plant in the north of Italy that produces sheets for construction, shipbuilding and automotive industries and has a capacity of 0.5 million tonnes per year.

Evraz acquired the company in 2005 paying 112 million euros for 75% + 1 share. In 2007, Evraz acquired the remaining 25% minus 1 share for 76 million euros.