Severstal, GM Uzbekistan sign agreement

Tashkent, Uzbekistan (UzDaily.com) -- Severstal, Russian steel producer, signed agreement with GM Uzbekistan on supply of steel products in 2010.

Sales Director of Severstal Dmitriy Goroshkov said this year, the company used long-term agreement with fixed volume and prices for 2010.

He said currently this is one of the most effective forms of cooperation with the automobile producers.

Russian company did not disclose any other details of the deal.

Severstal supplied over 300,000 tonnes of steel to Russian automobile makers in 2010, which is lower by 47% year-on-year. But the company kept its market share at 30%.