NLMK in talks with Duferco to create JV

The Russian Novolipetsk Steel (NLMK) has announced on Wednesday, October 18, that it is currently in talks with Italian Duferco Participations Holding Limited (Duferco) to set up a joint venture. The purpose of the joint venture is to buy certain mills owned by Duferco in Europe and the United States. The main Duferco facilities which are expected to be acquired by the joint venture include Duferco Farrell Corporation (USA), Carsid SA (Belgium), Duferco Clabecq SA (Belgium), Duferco La Louviere SA (Belgium), Duferco Coating SAS (France), Sorral SA (France), Acciaierie Grigoli S.p.a. (Italy) and Duferco Transformation Europe (France). The transaction is expected to be completed by the end of the current year.