30 January 2006
Novolipetsk Steel completes the acquisition of 100% interest in DanSteel A/S
Further to the announcement of January 5th, 2006, OJSC Novolipetsk Steel (LSE: NLMK) has completed the acquisition of DanSteel A/S, the Danish steel manufacturer, for USD104 million. As previously stated, the deal was financed in full from NLMK’s existing cash funds.
Mr. Anton Bazulev, NLMK’s spokesman, commented
“This deal demonstrates the strong commitment of NLMK to controlled international expansion and to increase downstream production capacities.”