LNM takes over Vysoke Pece Ostrava
According to the latest news from the industry LNM Holding, the second largest steel producer in the world, has purchased 100% stake in Vysoke Pece Ostrava (VPO) which is a blast furnace operation in Ostrava, northern Czech Republic. VPO provides
pig iron to Ispat Nova Hut and Vitkovice Steel.
LNM has offered its 49% shares in the forwarding company NH Trans to Shiran in order to exchange for Shiran's 33.3% holding in VPO. The foreseen annual iron
production capacity for VPO is 3 million tons. Furthermore, Ispat Nova Hut and Vitkovice Steel have an annual crude steel producing capacity of 3.2 million tons and 1.1 million tons respectively.
LNM has purchased a majority stake in the Czech steel producer Ispat Nova Hut on January 31, 2003. And now the company wants to takover the 30% shares of Ispat Nova Hut that does not own.