NLMK completes DanSteel takeover
Russia's third largest steelmaker Novolipetsk Steel (
NLMK) completed the 100 percent acquisition of
Denmark based DanSteel for $104 million.
The deal has been financed fully from
NLMK's existing cash funds.
According to Mr. Anton Bazulev,
NLMK's spokesman, “This deal demonstrates the strong commitment of
NLMK to controlled international expansion and to increase downstream
production capacities.”
SteelOrbis had informed
NLMK's intention on
January 06, 2006.