http://www.interfax.com/3/310012/news.aspx
*MMK investing over $1 bln in U.S. plant* ST. PETERSBURG. Sept 5 (Interfax) - Magnitogorsk Iron & Steel Works (MMK) (RTS: MAGN) is investing more than $1 billion in the construction of a plant in U.S. state of Ohio that will produce automobile body sheets, Viktor Rashnikov, chairman of the MMK board of directors, said at a briefing in St. Petersburg on Wednesday. The new plant will be able to produce 1.5 million tonnes of cold- rolled automobile body sheets a year, he said. Rashnikov announced plans back in July to build a plant in Ohio. The U.S. state of Ohio is expecting MMK to make a decision on the construction of a plant that would produce automobile body sheets at the end of 2007, U.S. media reported earlier, citing Ohio Lieutenant Governor Lee Fisher. Fisher said Ohio was competing with other states for the right to have the plant built on its territory. He declined further comments, citing confidentiality. MMK's principal beneficiary is company chairman Viktor Rashnikov. tj rm [Non-text portions of this message have been removed]
