MMK has received the approval of the Federal Antimonopoly Service for the purchase of Lysva Iron and Steel Works with the capacity of 360 thousand tons per year.
Back in September MMK reported that it was regularly monitoring the M&A market and was ready to discuss the acquisition of prospective assets.
At present neither MMK, nor LMZ are commenting the deal.
Lysva Works is the only producer of rolled metal with multi-layer decorative coating and electrolytic zinc coating in Russia.
LMZ planned to build a sheet-rolling complex with the capacity of 820 thousand tons per year valued at 13 billion rubles. In 2016 the first stage was commissioned – the decorative polymer coating line with the capacity of 110 thousand tons per year and the investments of 5 billion rubles. (Ukrainian metal)