Koks buys 55.35 % stake in Slovenska Industria Jekla

The Slovenian government has sold a 55.35 percent stake in Slovenska Industria Jekla to Industrial Metallurgical Holding's (IMH) affiliate company Koks, which is one of the largest producers of metallurgical coke in Russia, for more than Euro 300 million at a privatization tender. Slovenia's largest steel producer incorporates seven different enterprises, the two largest of which are Acroni (specializes in production of HR, CR, stainless, electro and dynamo steel flat products) and Metal Ravne (specializes in production of special steel bars). IMH commented that the main objective of this acquisition is the vertical integration of the holding since the major part of the raw materials used by Slovenska Industria Jekla, such as pig iron, nickel, ferroalloys, are produced by IMH enterprises. In 2006 Slovenska Industria Jekla produced about 500,000 metric tons of crude steel. 30 percent of its finished steel products were sold in the domestic market, while the rest was exported to western Europe and the USA. IMH unites under its management seven different steel plants, coke plants and coke-mining enterprises. IMH's main companies are Tulachermet (Russia's largest exporter of pig iron) and Koks (one of the country's largest producers of metallurgical coke).