Novolipetsk Steel has completed a deal to acquire a half-share in a joint venture with Duferco, which makes and distributes steel in Europe and the United States. The purchase price is about $US 806 MLN.
The assets of the joint venture company include a steel making plant and five rolling facilities with an estimated output of 4.5 MLN tons, as well as a network of steel service centres.The deal will allow NLMK to boost sales in Europe where demand for hot rolled steel is expected to increase 5-fold.