Acquisition

10 Aug 2007 10:43

OJSC Magnitogorsk Iron &Steel Works10 August 2007 10.08.2007 MMK announces acquisition of 75% stake in INTERCOS-IV MMK announces acquisition of 75% stake in ZAO Itercos-IV in the Leningrad region.The stake was acquired by two blocks of 37,5% of shares each. INTERCOS-IV produces large-sized (up to 70 tons of weight) dies and press-molds,as well as stamped details for cars and household appliances. Key customers ofthe company are Russian and international car-manufactures. As the result of the acquisition, MMK will be able to process its rolledproducts at INTERCOS-IV. Besides, MMK will expand its presence in the North-westregion of Russia and will take the leading positions in the growing market ofstamped parts and components for international industrial companies operating inRussia. Investor relationsEvgeny KovtunovTel.: +7 3519 24 93 55E-mail: kovtunov@mmk.ru Press serviceElena AzovtsevaTel.: +7 3519 24 90 82Fax: +7 3519 24 80 24E-mail: azovtseva@mmk.ru This information is provided by RNS The company news service from the London Stock Exchange