LNM To Take Controlling Interest in Iscor

The South African Competitions Commission have approved LNM’s application to increase their share in South African-based steel manufacturer, Iscor. LNM currently hold a 49% share in Iscor, the increase in their stake will give them a controlling interest in Iscor.

LNM have been waiting since December for the decision. They also stated that they have no intention of taking their stake beyond 60%.

The controlling share however will allow LNM to implement proprietary technology which will increase the efficiency of the operation.

For more information on steel manufacture, click here.

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