2 Mar 2010 18:38

Koks' Slovenian subsidiary to acquire German metals plant

MOSCOW. March 2 (Interfax) - Slovenian Steel Group, subsidiary of the industrial and metallurgical holding Koks , intends to take control over German metals company Niro Wenden GmbH, and Koks applied to the German anti-trust agency for approval last week.

Both Slovenia Steel Group and Niro Wenden have confirmed for Interfax that deal preparations are in the works, but declined to provide further comments.

Niro Wenden was founded in 1994 and is owned by German citizens. It employs forty workers and specializes in stainless steel, including plasma and laser cutting, and polishing. It does not publish its financial data.

Slovenian Steel Group is composed of six companies, of which the key members are Acroni, a flat-roll producer, and Metal Ravne, a sections producer. Others in the group produce industrial knives and electrodes. Acroni makes specialty products such as stainless steel, electrotechnical steel and other special-use steels.

Koks also encompasses a range of metallurgical, chemical coking and hydrocarbon-extracting companies in Russia: OJSC Koks (Kemerovo region) OJSC Tulachermet, Tulachermet Vanadium, OJSC Polema (Tula), CJSC PO Rezhnikel (Sverdlovsk region), and OJSC Ufaleinikel (Chelyabinsk region). Boris Subitsky and members of his family control the holding.