Press releases
OJSC Novolipetsk Steel announced today that it is in discussions with Duferco Participations Holding Limited (“Duferco”) to create a joint venture that would acquire certain steel production facilities currently owned by Duferco in Europe and the United States. The main companies expected to be acquired by the joint venture include Duferco Farrell Corporation (USA), Carsid SA (Belgium), Duferco Clabecq SA (Belgium), Duferco La Louviere SA (Belgium), Duferco Coating SAS (France), Sorral SA (France), Acciaierie Grigoli S.p.a. (Italy) and Duferco Transformation Europe (France).
Further to the announcement on August 16th, 2006, Novolipetsk Steel (LSE: NLMK), a leading Russian steel producer, has completed the disposal of its stake of 92.04% (236,605 ordinary shares) in OJSC “KMA Ruda”. As stated previously, the deal is valued at USD 300 million in cash. The 59.99 % interest in KMA Ruda was sold to OJSC “KOKS” and 32.04 % interest was sold to Lesser Enterprises Limited Company for USD 195.5 and 104.5 million respectively.
OJSC Novolipetsk Steel (NLMK), the LSE listed leading Russian steel producer, today announces its consolidated US GAAP results for the first half of 2006.
Novolipetsk Steel (LSE: NLMK), a leading Russian steel producer, today announced that it has agreed to sell its stake of 92.04% (236,605 ordinary shares) in OJSC “Kombinat KMA Ruda” for USD 300 million. According to the agreement, approximately 60% interest in KMA Ruda is sold to OJSC “KOKS” and around 30% interest is sold to Lesser Enterprises Limited Company for USD 195.5 and 104.5 million respectively. The parties are planning to close the transaction before the end of the year after seeking the necessary approvals from the state regulatory authorities.
Novolipetsk Steel, NLMK (LSE: NLMK), the leading Russian steel producer, has completed the acquisition of 100% in VIZ Stal, the second-largest Russian electrical steel manufacturer, for USD 550 million. As previously stated in the announcement dated June 9th, 2006, the deal was financed in full from NLMK’s existing cash funds. VIZ Stal will be consolidated by NLMK from the mid-August, 2006.
NLMK’s Quality Management System (QMS) has successfully passed its second supervisory audit to comply with the requirements of ISO/TS 16949:2002 (Quality management systems – Particular requirements for the application of ISO 9001:2000 for automotive production and relevant service part organizations).
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