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PrintEvraz Group S.A. (LSE: EVR) ("Evraz") announces the closing of the deal with Carbofer Group for the acquisition of Carbofer Metall, one the largest Russian steel distribution networks, which Evraz and Carbofer Group was discussing at the time of Evraz's 1H2009 results announcement.
The acquisition is in line with Evraz's plans to increase direct sales of its steel products to end customers in Russia.
Carbofer Metall is a Russian network of six steel trading companies having 35 steel service centres located all over the country. In 2008, it shipped 1.2 million tonnes of long products and generated revenues of US$1.07 billion. Evraz sold approximately 25% of its construction products produced in Russia through Carbofer Metall in 2008.
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