OREANDA-NEWS. Severstal (RTS: CHMF; LSE: SVST) has acquired the Dearborn, Michigan-based Victory Industries Inc., which manufactures and repairs  spare parts and components for metallurgical equipment for US$ 885 thousands.

According to the press service of the company, Severstal acquired the asset via its services subsidiary ZAO Firma STOIK.

"The main reason for buying the assets of Victory Industries Inc is to develop equipment servicing for Severstal North America, which Severstal acquired in 2004," said Dmitry Romanov, the director of STOIK.
STOIK's management, when planning the development prospects and additional investment in Victory Industries Inc's existing assets, is not ruling out cooperation with other nearby industrial enterprises.