2 Steelmakers in Deal to Rebuild Coke Plant
A subsidiary of Russian steel giant Severstal Group will spend $140 million to rebuild the aging coke ovens at Wheeling-Pittsburgh Steel Corp.’s site in Follansbee, W.Va., then take half-ownership and share the coke, the companies announced.
Severstal, which has been making acquisitions in recent months, aims to become one of the top five global steel producers. Severstal North America Inc. signed a letter of intent for the coke plant deal with Wheeling-Pittsburgh last week and plans to close the deal by March 31.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
