LNM plans to submit an offer for Dunaferr
Dutch Group LNM announced that it is planning to submit an offer for the privatisation of
Hungary's major steelmaker Dunaferr.
As previously reported by SteelOrbis, Anglo-Dutch LNM Holdings, Russian mill
Mechel and
Germany's Thyssenkrupp AG are also indicated as possible investors.
However, after careful consideration, Thyssenkrupp has decided not to submit an offer for Dunaferr's privatisation.
LNM requires to increase its annual steel capacity in Central and Eastern
Europe. The company already produces over 8 million tons per annum of liquid steel in the Czech Republic and
Romania. Also, LNM has signed an agreement with the Polish Treasury Ministry for the privatisation of Polskie Huty Stali.