Czech-based NWR completes sale of its coke subsidiary OKK

Friday, 06 December 2013 15:39:54 (GMT+3)   |   Istanbul
       

Czech-based coal miner New World Resources (NWR) has announced that it has completed the sale of its coke subsidiary OKK Koksovny, a.s. (OKK) to the Czech-based METALIMEX Group for €95 million.
 
NWR said that the freed-up cash from the divestment of OKK will be reinvested in the company's core business including mining equipment and mine expansion projects. The divestment was also a part of NWR's plan to become the Europe's leading miner and marketer of coking coal by 2017.

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