Bloomberg News

Novolipetsk Steel to Sign $500 Million Deal With TBEA

March 22, 2007

(Corrects to say deal to be signed next week.)

OAO Novolipetsk Steel, Russian billionaire Vladimir Lisin's steelmaker, plans to sign a $500 million deal with TBEA, China's largest manufacturer of electrical transformers, next week.

The Russian company plans to supply 100,000 tons of electrical steel through 2011, Anton Bazulev, a spokesman for Novolipetsk, said in an e-mailed statement today.

To contact the reporter on this story: Mark Sweetman in Moscow at msweetman@bloomberg.net Henry Meyer in Moscow at Hmeyer4@bloomberg.net

To contact the editor responsible for this story: Malcolm Fried at mfried@bloomberg.net


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