Mechel Pays $221 Million for 3rd Romanian Steel Mill

OAO Mechel, the Russian steel and coal producer controlled by billionaire Igor Zyuzin, will pay $221 million for Ductil Steel, its third mill in Romania, as the company expands metals operations in eastern Europe.

Ductil, which has a steel alloy and wire-products plant in Buzau and a billet-making facility in Otelu Rosu, will bolster Mechel's wire business and reinforce the operations of the Campia Turzii and Targoviste mills in Romania it bought in the past two years. Mechel also owns 49 percent of the Toplofikatsia Rousse power plant in Bulgaria, bordering Romania.