Novolipetsk Steel, NLMK (LSE: NLMK), the leading Russian steel producer, is pleased to announce that it has agreed to acquire 100% of the issued share capital of VIZ Stal, the second largest Russian electrical steel manufacturer, for USD 550 million. The acquisition is to be financed in full from NLMK’s existing cash funds.
NLMK has passed recertification audit for compliance of its quality management system with the requirements of ISO-9001 : 2000 international standard, as well as compliance audit of the quality management system used for the production of hot rolled coils from carbon steel grades in accordance with the requirements of EC Directive – 97/23/EG and German Technical Rules - AD 2000 W.
Novolipetsk Steel (NLMK) has started construction of the first in Russia grain-oriented electrical steel laser treatment system with planned annual production capacity of up to 40 thousand tonnes. The implementation of this project elaborated within the framework of Company’s R&D activities will allow producing a new high value-added steel product with high level of magnetic properties.
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