Russian steel giant NLMK has reached an agreement with NLMK Belgium Holdings, a joint venture with the Belgian investment fund SOGEPA owned by the Wallonia region, to integrate Danish NLMK Dansteel into NBH. NLMK said “Consolidation will optimize the management of European assets and provide flexibility in decision-making. The expansion of the NBH holding will strengthen its position in the European market with a unique competitive product portfolio to meet the demand of customers in industries such as shipbuilding, civil engineering, automotive, mining, wind energy and others. The consolidation of assets and strengthening of the portfolio will help reduce operating costs and optimize NLMK Group's operations on foreign markets in the current economic environment.” The deal is currently under review by the EU merger control authorities. DanSteel, based in Frederiksvärk Denmark, manufactures premium hot rolled plate. For over 80 years, DanSteel has played an indispensable role in the Danish industry. NLMK Dansteel specializes in the production of thick plates. The production site of NLMK Clabecq in Belgium produces medium and thick sheets with a thickness of 3 to 120 mm. The NLMK Verona steel plant in Italy produces extra-thick and heavy ingots, plates & slabs and structural steels. NBH is a joint venture between SOGEPA 49% and NLMK Group 49%. The joint venture includes a number of steel mills, service and distribution centers. The NLMK Europe Flat Products division includes NLMK La Louvière in Belgium, NLMK Strasbourg in France, NLMK Manage service center in Belgium. The NLMK Europe Thick Sheet consolidated division includes NLMK Clabecq in Belgium, NLMK DanSteel inDenmark and NLMK Verona in Italy. NLMK Group is a vertically integrated steel company, Russia's largest and one of the world's most efficient producers of steel products. NLMK's production assets are located in Russia, Europe and the USA. The company's steel production capacity exceeds 18 million tonnes per year. The Belgian investment fund SOGEPA was founded by the Walloon authorities in 1984 to support the economic development of the region. SOGEPA promotes the creation of sustainable businesses by investing in industrial projects and assets. The Fund operates on the principles of effective private investment, playing an active role in the strategic management of companies at the level of the board of directors.