S. African Ispat Iscor to change its name
SteelOrbis reported last week that Ispat International N.V completed the takeover of LNM Holdings. With the completion of the takeover, the new name of the company has become Mittal Steel Company N.V.
Moreover, following the takeover, the name of Ispat Iscor, 50% of which is currently held by LNM Holdings will also change, the sources reported.
The new name of the company will be Mittal Steel South
Africa, however the name change is subject to the approval of the shareholders.
Procedures regarding the name change are expected to be completed in the first quarter of 2005.
Ispat Iscor officials stated that the name change will provide the company with many opportunities. For instance, the company will be able to take part in a more extensive marketing platform.