ID :
278683
Thu, 03/21/2013 - 10:19
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Emirates steel inks iron ore supply agreement with LKAB

Abu Dhabi, March 21, 2013 (WAM) - Emirates Steel Industries PJSC ("Emirates Steel" or the "Company") announced yesterday that it has signed a sales contract with Sweden's LKAB to source quality iron ore pellets beginning 2013. Highlighting the importance of the agreement, Hussein J Al Nowais, Chairman of Senaat, the Holding company of Emirates Steel, said it aimed to complement the company's efforts to enhance the value of its steel products by sourcing high quality raw materials with international standards. He recognised the expertise and high regard in the market for LKAB. Al Nowais, who is also the Chairman of Emirates Steel, confirmed that the Company will continue to elevate its investment plans to accommodate the increasing demand for steel in local and regional markets. He was confident that Emirates Steel will further grow its competitive advantages by increasing its focus on quality and raising the standards of products to higher levels as LKAB becomes one of the partners contributing to the Company's development plans. The Senaat Chairman, along with other board members and senior management officials from both parties, witnessed the contract signing by Emirates Steel CEO Engineer Saeed Ghumran Al Romaithi and LKAB CEO Lars-Eric Aaro. LKAB is an international high-tech minerals group that produces iron ore products for the steel industry and mineral products for other industries and applications. The LKAB Group has about 4000 employees in 14 countries and accounts for 10% of Sweden's industrial investments. LKAB's high-quality, climate-friendly iron ore products - mainly pellets - streamline customer processes while reducing global emissions of greenhouse gas. – Emirates News Agency, WAM

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