Two Russian steelmakers – Evraz and TMK – have been awarded a $4 billion deal to supply specialist pipes to the US energy industry.
Evraz – Russia’s second largest steelmaker – is to buy the North American pipe business of SSAB for a net $2.3 billion. It will then sell on some parts of the business to fellow Russian firm, TMK, for $1.7 billion. The two companies will become key players in the pipe industry as a result of the move.
The firms will be relied upon by the currently politically sensitive US energy sector.
