Uralvagonzavod Drops Plan to Buy Serbia Sole Steel Plant

Feb. 28 (Bloomberg) -- NPO Uralvagonzavod OAO of Russia placed no binding offer for Zelezara Smederevo d.o.o., Serbia’s sole steel producer, by today’s deadline, Serbia’s Finance Ministry said in an e-mailed statement.

The Serbian government will discuss the sale of the unprofitable producer tomorrow and won’t extend the deadline for placing bids for a third time, according to the statement.

Uralvagonzavod was the only company to have expressed interest in the Smederevo-based plant, which U.S. Steel Corp. sold back to Serbia for $1 in January 2012.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net