Japanese Nippon isn't interested in “outdated”plants of Severstal in th USA

Nippon Steel & Sumitomo Metal Corp. isn't interested in the acquisition of the "outdated" of American plants of Severstal, one of the managers of the Japanese steel giants said in an interview to the Reuters.

But Nippon can consider the issue of investing the funds of its Foreign Investments Fund in the amount of $1 billion into the mining of iron ore or coking coal, the company's executive vice -president Katsuhiko Ota said.

Severstal of billionaire Alexei Mordashov considers various “strategic opportunities” concering its American plants against the background of crisis on the metallurgical market - excessive production and weak demand.

Previously the Wall Street Journal wrote that plants in Dearborn and Columbus might be sold for $1.5 billion, and American Steel Corp and Brazilian Companhia Siderurgica Nacional SA were potential buyers.