LNM Holdings acquires 51% stake in Bosnian mill

LNM Holdings acquires 51% stake in Bosnian mill

According to recent news in the market, LNM Holdings has recently acquired 51% stake in Bosnian steel mill BH Steel for $80 million. Under the scope of the deal signed, LNM will invest at least $135 million for the modernization of the mill for the next ten years. Moreover, LNM will increase the annual production capacity of the mill, which is currently 150'000 tons, to 2-2.5 million tons by 2007. As previously reported by SteelOrbis, LNM was chosen for the negotiations after the bid of Ispat Group of India was rejected.