Duferco joint venture

18 Oct 2006 07:01

OJSC Novolipetsk Steel18 October 2006 OJSC NOVOLIPETSK STEEL Press Release Liptetsk, Russian Federation, October 18, 2006 -- OJSC Novolipetsk Steelannounced today that it is in discussions with Duferco Participations HoldingLimited ("Duferco") to create a joint venture that would acquire certain steelproduction facilities currently owned by Duferco in Europe and the UnitedStates. The main companies expected to be acquired by the joint venture includeDuferco Farrell Corporation (USA), Carsid SA (Belgium), Duferco Clabecq SA(Belgium), Duferco La Louviere SA (Belgium), Duferco Coating SAS (France),Sorral SA (France), Acciaierie Grigoli S.p.a. (Italy) and Duferco TransformationEurope (France). The transaction, which is subject to the negotiation and execution of adefinitive agreement and competition and other approvals, is expected to becompleted by the end of the year. No further announcement is expected to be made until the execution of adefinitive agreement for the transaction. Contact:NLMKAnton Bazulev +7 495 915 1575Financial DynamicsJon Simmons +44 207 831 3113 This information is provided by RNS The company news service from the London Stock Exchange