OREANDA-NEWS. Metinvest Holding LLC is has announced that one of its subsidiaries has signed a definitive share purchase agreement to acquire from the Malacalza family 100% interest in Trametal SpA and Spartan UK Ltd to an undisclosed amount. The transaction is now being notified to the relevant competition authorities and the approval is expected to be obtained within 60 days. Metinvest plans to combine Trametal and Spartan with its existing Italian steel-rolling company, Ferriera Valsider SpA, thereby creating a company with more than 1 million metric tons of plate rolling capacity in the European Union. According to the company's press division, the transaction represents the first step of an expected further cooperation between the two groups in the fields of the steel industry, devoted to providIng specific specialization to each of them.

Mr. Igor Syry, General Director of Metinvest Holding LLC stated: "We are extremely proud of today's acquisition and believe that Trametal and Spartan perfectly fit our long-term strategy of producing more value-added products and improving the company industrial balance. Trametal and Spartan are excellent companies, producing high-quality steel plate and having a reputation for outstanding customer service. They will make excellent additions to our company and will be fully integrated into our corporate structure. We plan to maintain the existing high standards of customer service and the current client networks and sales channels. Furthermore, we will keep in place the existing management team, employees, and business model. Lastly, we plan to invest in these companies and help them develop further. This acquisition will allow us to enhance our presence in the Italian market, which we view as a key market for us. As a result of this acquisition, Metinvest will have more than 1 million metric tons of plate rolling capacity in the European Union. Furthermore, we recognize the outstanding work that the Malacalza family has done over the years, putting Trametal and Spartan among market leaders. Moreover, we are discussing the possibility of having them acquire a minority stake and becoming partners with us in the new company."

Trametal SpA and Spartan UK Ltd are plate rolling facilities located in San Giorgio de Nogaro, Italy and Newcastle, UK, respectively. The companies had combined sales of more than Euro 370 million and produced more than 536 thousand metric tons of plate in 2006. Ferriera Valsider is a facility producing plate and hot-rolled coil located in Verona, Italy. It had sales of more than Euro 265 million and produced 515 thousand metric tons of rolled-steel products.