NLMK acquires additional 30% stake in NTK

Novolipetsk Steel of Russia (NLMK) closed a deal on purchase of 30 percent of stakes in Independent Transportation Company (NTK) yesterday, raising its total stake in NTK to 100 percent. NTK is considered as the key logistic component of NLMK, arranging the transportation of the company's supplies of raw materials and providing delivery of steel products to customers in Russia and abroad. This acquisition is in line with the previously announced internal restructuring plan, one of key steps of which is a further consolidation of NLMK's core assets.