LONDON — Novolipetsk Steel announced Tuesday the creation of new business divisions — NLMK Europe and NLMK USA — following the acquisition of the rolling business of Steel Invest & Finance last month.
The Lipetsk-based steelmaker paid Duferco Group $600 million to gain control of the Steel Invest & Finance venture, which includes seven steel-rolling mills in Europe and the United States.
Novolipetsk Steel also announced the new management structure of its international operations, appointing Horacio Malfatto chief executive of NLMK Europe. Malfatto was chief executive of Steel Invest & Finance.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.