Duferco Participations Holding earns profit of €405.7 million in 2011

Tuesday, 29 May 2012 17:53:34 (GMT+2)

In 2011, Duferco Participations Holding, Luxembourg-based subsidiary of the Swiss-based steel group Duferco, achieved a profit of $405.7 million, as reported by international media sources.

Duferco Participations Holding's excellent profitability in 2011 was mainly due to the divestment of shares in certain joint ventures. Last summer, the Russian steel producer Novolipetsk Steel (NLMK) purchased the stake owned by Duferco Partecipations Holding in the 50-50 joint venture Steel Invest And Finance at a cost of $272 million.