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. Last Updated: 07/27/2016

Siemens Steel Deal

MUNICH () -- Siemens AG said Monday a consortium it headed had won contracts to build steel rolling mills in Russia worth a total 400 million marks ($264.9 million), of which Siemens' share was about 180 million marks.

The consortium includes Schloemann-Siemag AG, Sket Schwermaschinenbau GmbH, Siemag Transplan GmbH, Netphen, Kieserling GmbH, Solingen, and Ebner Industrieofenbau of Linz, Austria.

The first of the mills, for fine and medium-grade steels, will be built at Stary Oskol, about 700 kilometers south of Moscow, for Oskol Electrometallurgical Combine OEMK.