Posted in | News | Ferrous Alloys and Metals | Iron and Steel

LNM Complete $1.06 billion Acquisition of Part of Polskie Huty Stali

Mar 8 2004

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Following their victory over rival US Steel to gain the right to bid for a stake in Polish steel manufacturer Polskie Huty Stali, LNM Group have now successfully completed the deal.

Under the agreement with the Polish government, LNM will purchse from them a 70% share in Polskie Huty Stali for $1.06 billion.

Polskie Huty Stali produce approximately 6 million tons of steel which accounts for about 70% of the Polish steel market.

Polskie Huty Stali has been owned by the Polish government since communist times and funds from its divestment will be used to reduce their budget deficit.

For more information on steel manufacture, click here.

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