Russian steel company OAO Severstall will buy Baltimore's Sparrows Point steel mill from ArcelorMittal for US$810 million in cash. Sparrows Point is a fully integrated mill. The purchase will make Severstal the fourth largest steel producer in the U.S. Its North American division also includes a mill and other facilities in the Detroit area and in Columbus, MS.
Sparrows Point has a capacity of 3.9 million tons of crude steel. It is the only integrated producer of flat rolled steel on the U.S. East Coast.