NLMK acquires Beta Steel for $400 million
Vladimir Lisin’s Novolipetsk Steel (NLMK), a Russian
steelmaker, has signed a definitive agreement to
acquire Beta Steel for approximately $400 million.
Beta Steel is based in Portage, Indiana and will
provide unprocessed steel for NLMK’s previous American
acquisition, John Maneely Co. (JMC). JMC was acquired
in August for $3.53 billion and is headquartered
in Beachwood, Ohio. It operates eleven plants in
five states and one Canadian province.