LNM completes acquisition of Romanian mill Petrotub
LNM Group, one of the world's largest steelmaker, reported that they have concluded the acquisition of the state owned Petrotub Roman by LNM Holdings N.V. as the conditions of the privatization agreement, signed on October 28, 2003, have been fulfilled. Thus, the transfer of 69.7% of the share capital from the Romanian Privatization Authority will be performed soon.
LNM Group aims to make Petrotub that has an annual
production capacity of 450'000 tons one of the leading seamless
pipe producer in
Europe.