Claymont Steel Holdings Inc.'s brief turn as a public company is over.
Evraz Group S.A. , a steelmaker owned in part by Russian billionaire Roman Abramovich, completed its purchase of Claymont Steel in a deal valued at $564.8 million, or $23.50 per share.
Claymont Steel manufactures plate steel out of scrapped railroad cars, automobiles, and other sources of scrapped steel at its mini-mill in New Castle County, Delaware.
The operation has had a string of owners in recent years following the bankruptcy of Phoenix Steel in the '80s. First, a Chinese company bought the operation out of bankruptcy. A Miami hedge fund bought Claymont Steel in June 2005 for $75 million. It took the company public in an offering completed Jan. 23, 2007.
Evraz is a steel and mining company that owns three huge steel plants in Russia, one is Italy and one in the Czech Republic. It also owns Evraz Oregon Steel Mills, in Portland.
