NLMK not having any problems with SOGEPA
MOSCOW. March 20 (Interfax) - The NLMK Group , the flagship asset of OJSC Novolipetsk Steel Company, is not having problems in its work with Belgian government company SOGEPA, an NLMK partner in European assets, amid the current political situation and possible western sanctions against Russia.
"On the contrary, in this situation they are happy they came [bought into the Belgian subsidiary] - they support a certain social climate, they are interested that the situation in Belgium remains good," NLMK Board Chairman Vladimir Lisin told the press. If the plant comes to a stop, for example, "their workers will be left without jobs, not ours," he said.
Overall, commenting on possible sanctions, Lisin said they are unlikely - considering trade turnover between the EU and Russia "they [Europe] will cause more problems for itself than for us."
NLMK, which plans to raise up to $500 million in a club credit from foreign banks to refinance current debt, is not having any difficulties in talks with potential creditors. "We continue to work and have not had any difficulties yet," Lisin said.