NLMK shows good resuts despite tough market
This is 9.6 percent increase quarter – on –quarter basis, while for the year production was up 3.6 percent to 12 million tones.
“Production results of NLMK showed good dynamics amid a tough situation in Russia and in the whole world”, says Pavel Emelyantsev from Investcafe.
In 2011 NMLK bought a 50% stake in Steel Invest Finance (SIF) from the Duferco Group for $600 million. This purchase helped NLMK to push its annual sales up 12.4% to the record level of 12.9 million tonnes of steel products, experts say.
The sale of higher-value-added products also grew significantly, and it could contribute to good results in 2012.
Novolipetsk Steel plans to increase production in Q1 of 2012 by up to 15% or 3.6 million tonnes with the introduction of new steel-making vessels and renovation of older ones.