Novolipetsk Steel (NLMK) agrees to acquire additional 30% interest in its key logistics provider
Novolipetsk Steel, NLMK (LSE: NLMK) today announced that it has completed the acquisition of an additional 30% stake in LLC NTK from LLC EuroAsian Transport Company. As a result of this transaction NLMK now has a stake of 100% in LLC NTK.
LLC NTK is the key logistics provider for NLMK, arranging the transportation of the company’s supplies of raw materials and providing delivery of steel products to customers in Russia and abroad. LLC NTK manages NLMK’s relations with Russian Railways and, in relation to the exported products, with port authorities.
This acquisition is in line with the previously announced internal restructuring plan. One of key steps of the restructuring plan is a further consolidation of NLMK’s core assets.