3rd Aug 2007 08:11
OJSC Magnitogorsk Iron &Steel Works03 August 2007 August 03, 2007 MMK announces acquisition of 25,67% stake in OAO "Bashmetallopttorg" Today, on August 03, 2007, MMK announces acquisition of 25,67% stake in OAO"Bashmetallopttorg" in the capital of the Republic of Bashkortostan - the cityof Ufa. The company was created to secure supplies of steel products to the Republic ofBashkortostan. Today it is the largest metal warehouse in the city of Ufa andone of the largest in Russia. The acquisition of the blocking shareholding in the company is in line with thestrategy of MMK in the domestic market to establish a metal service centersnetwork in different regions of Russia in order to advance its products tocustomers. At present MMK has the approval of the Federal antimonopoly service of theRussian Federation to acquire up to 100% at OAO "Bashmetallopttorg". Investor relationsEvgeny KovtunovTel.: +7 3519 24 93 55E-mail: [email protected] Press serviceElena AzovtsevaTel.: +7 3519 24 90 82Fax: +7 3519 24 80 24E-mail: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MMK.L