Russian steelmaker NLMK Group and Belgium-based SOGEPA (Societe Wallonne de Gestion et de Participations S.A.) have signed an agreement to increase SOGEPA's stake in NLMK Belgium Holdings (NBH).
Under the agreement, SOGEPA's interest in NBH will increase from 20.5 percent to 49 percent.
NLMK Group and SOGEPA have also agreed on a new stage of operational improvement programs, targeting a return to profitability for the main NBH production companies, as well as the optimization of the structure of the entity's auxiliary strip production companies.
NBH comprises the production companies and service centers of the NLMK Europe Strip Division and two NLMK Europe Plate production companies.