Severstal and Air Liquide form air separation joint venture

摘要

LONDON -- Russian steelmaker Severstal has set up a joint venture with gas supplier Air Liquide for the building of an air separation unit at Severstal's Cherepovets site in northern Russia. The value of the joint venture, known as ALS, will be about cents100 million. Air Liquide will hold 75 percent of the company, with Severstal holding the remaining share. Air Liquide started working on the deal almost two years ago, said Pierre-Etienne Franc, vp metals market at Air Liquide. "We approached Severstal about two years ago to look at its existing oxygen plant and see what we can bring to the table," he explained. "It became clear that Severstal had the need to revamp its existing unit."