South West | Finance, business

NLMK pays $12m to consolidate control

23 Jul '08
Novolipetsk-based metallurgic company NLMK has become the full owner of all of its subsidiaries after it paid $12m for the remaining stakes in these companies, sources in NLMK report.

The firm has bought the remaining 2.0205 percent in Lipetsk’s Dolomit for $943,500; 2.5629 percent in mining company Studenovskaya in Lipetsk for $1.2m; and 1.5646 percent in Altay-Koks, Altay Region, for $9.8m.

All these subsidiaries are supplying its parent company with raw materials needed for metallurgic production, including dolomites, coking coal, and limestone.
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Locations: Altai

Tags: limestone (7) / Altay Koks (5) / Dolomit (3) / NLMK (26) / Novolipetsk (24) / coking coal (0) / Studenovskaya (0) /

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