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Business Briefs

Mittal plant

New Delhi, March 22: Severstal will acquire ArcelorMittal’s Sparrows Point mill in the united states for $810 million. “The transaction reflects a significant strategic opportunity to add complementary assets and scale to Severstal’s existing US business,” the company said in a statement. Sparrows Point, a fully integrated steel mill based in Baltimore, Maryland, has a capacity of 3.6 million tonnes of crude steel and shipped 2.3 million tonnes of finished steel products in 2007.

Maruti

New Delhi, March 22: Maruti Suzuki India has emerged as the most preferred imported car manufacturer in Sri Lanka. This is the fifth year in succession that Maruti has bagged the position. The company has so far exported over 3,600 units to Sri Lanka.


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