NLMK.L Regulatory News (NLMK)

22 Jun 2007 10:32

OJSC Novolipetsk Steel22 June 2007 Novolipetsk Steel (NLMK)June 22 2007 Novolipetsk Steel (NLMK) transfers DanSteel A/S ownership to its subsidiary,NLMK International BV Novolipetsk Steel, NLMK (LSE: NLMK), a leading Russian steel producer, todayannounced the transfer of ownership of its 100% interest in DanSteel A/S to NLMKInternational BV. NLMK International BV is a 100% owned NLMK subsidiaryregistered in the Netherlands. NLMK International BV was established in 2006 within the framework of the "Sustainable growth strategy 2007 - 2011". A key element of the strategy is theacquisition of high quality rolling assets in core markets. NLMK InternationalBV will play the role of the investment vehicle for future acquisitions offoreign assets by NLMK Group. The ownership of the 50% interest in NLMK -Duferco Group JV will also be transferred to NLMK International BV in the nearfuture. The establishment of NLMK International BV advances several important objectivesof the company's M&A policy. In particular, it enables to NLMK to optimize theownership and management structure of foreign assets. An additional factor infavor of establishing NLMK International BV is the necessity of consolidatingfinancial flows for future international acquisitions. About Novolipetsk Steel (NLMK) Novolipetsk Steel (NLMK) is one of the world's most profitable steel companies,with EBITDA margin over 40%, and one of the three largest flat steel producersin Russia, with over 9 million tonnes of crude steel capacity. NLMK's productionfacilities are among the most technologically advanced in Russia, producing flatsteel products in a variety of grades and sizes. For further information visit www.nlmksteel.com About DanSteel A/S DanSteel A/S was established in 2002 in continuation of Danish Steel Works Ltd.,which was founded in 1940. DanSteel produces around half a million tonnes ofhot rolled steel heavy plates. DanSteel A/S' production facilities consist of a rolling mill and services inthe form of shot blasting and priming, marking, tests, burn and plasma cutting.The product range includes structural steel, shipbuilding steel and steel forboilers and pressure vessels. The company has its own harbour from whereapproximately 70% of its production is loaded on coasters and transporteddirectly to the customers. In January 2006 NLMK acquired a 100% stake ofDanSteel A/S. For further information visit www.dansteel.dk This information is provided by RNS The company news service from the London Stock Exchange