MOSCOW, April 10 (RIA Novosti) - Evraz Group has signed an agreement to purchase 73% of shares in the largest vanadium producer in the U.S. for $110 million, the company's press office said Monday.
The company will finance the deal through its own funds, the press office said.
"The deal will compensate the company for the absence of a vanadium factory and guarantee its presence on the promising markets of vanadium products with high added value," Evraz Group general director Valery Khoroshkovsky said.
Evraz Group is one of the leading vertically integrated mining and metallurgical companies in Russia. It incorporates three large steel enterprises and some ore mining and coal producing facilities. The company holds more than 20% of the world market of primary vanadium raw materials.
