Separately, Bloomberg News reported the potential buyer as Russian steelmaker
Evraz Group. Now Russia’s second largest steel maker, the company would vault
to the ninth largest in the world.
Evraz purchased Oregon Steel Mills Inc., in January for $2.3 billion, one of
the largest investments ever by a Russian company in the U.S. If the deal falls
through, it is thought IPSCO would make an inviting target for several North
American steel companies.