Magnitogorsk Iron and Steel Works has finalized the deal on the purchase of 100% of LMK Group.
The group comprises of Lysva Metal Company, Lysva Iron and Steel Works and Insayur-Autotrade-TL Trade House.
LMK Group is the only producer of electrolytic galvanized rolled metal with coating in Russia. Its total capacity is 350 thousand tons per year.
“The acquisition of LMK assets will provide for the strengthening of MMK positions via the expansion of the product range. Moreover, the deal will improve efficiency and competitiveness of MMK Group due to the growth of output and sales”, MMK CEO Pavel Shilyaev declared. (Ukrainian metal)