2008-12-19 11:18:00 MetallInvest Owns Scientific and Research Institute Metalloinvest acquired a 99,01% share of «The City institution for designing metallurgical plants» (Gipromez LLC). The company’s experience in elaboration and realization of the projects on technical revamping and construction of the new steelmaking facilities will ...
2008-12-18 12:22:23 OMZ affirmed KPMG as an auditor Joint Engineering Plants (OMZ) conducted the special meeting of holders, as it was informed. At the meeting the auditor (KPMG) and the deals of interest were approved. OMZ is the largest heavy engineering company working in the sector of the production, sale and servicing of the equipment ...
2008-12-18 11:33:34 PNTZ has produced the first batch of couplings for tubing and casing About 1000 couplings have been produced for tubing and casing within the commissioning at the coupling area of the Finishing Centre at Pervouralsk New Pipe Plant, which is part of the CHTPZ Group. The line for threading of couplings at the PNTZ Finishing Centre is fully automatic and ...
2008-12-17 16:11:13 CIS and Russian HRC export offers down another $70 cfr Gulf Ukrainian and Russian exporters have lowered hot rolled coil offer prices to buyers in the Persian Gulf by a further $70 per tonne, but failed to attract new business, market players told MB. “Even if you come down with prices, there are no buyers,” one pipe producer source ...
2008-12-17 07:16:33 TMK: Sixth in Annual Transparency and Disclosure Rating TMK took 6th place in Standard & Poor's annual Transparency and Disclosure Survey of the 90 largest publicly listed companies in Russia. TMK’s 2008 performance was a significant improvement over last year’s ranking. In 2007, in its first year as a public company, the ...
2008-12-16 12:51:13 Evraz signs $800 mln loan with Vnesheconombank Evraz Group announced signing of a $800 mln loan with Russia's State Corporation Bank for Development and Foreign Economic Affairs "Vnesheconombank (VEB).All the proceeds under this loan agreement were used to refinance the Company's short-term debt.As announced earlier, VEB approved ...
2008-12-16 11:09:25 NLMK upgrades industrial water supply system NLMK has completed an upgrade of its industrial water supply system at its main site in Lipetsk. This will allow the Company to halve river water consumption, reduce waste water discharge into the river Voronezh by 10 times and achieve the best environmental indicators among Russian ...
2008-12-15 11:25:15 MMC Norilsk Nickel is resuming the buyback of its outstanding shares On December 10, 2008 the Arbitration Court of Krasnoyarsk Territory issued a ruling lifting the previously adopted interim relief measures prohibiting OJSC MMC Norilsk Nickel (hereinafter – MMC Norilsk Nickel or the Company) and its registrar from implementing the resolution of the ...
2008-12-15 10:23:57 MMK IFRS Results for the 9 Months Key 9 months 2008 Financial Highlights Revenue up by 49% to $ 9.182bln year-on-year EBITDA for the period up by 41% to $ 2.673bln year-on-year 9 months EBITDA margin at 29.1% Net income up by 42% to US$ 1.483bln year-on-year Total debt at $ 1.478bln, net debt at $ 372mln ...
2008-12-12 10:17:00 Severstal closes deal to invest in a controlling stake in an iron ore deposit in Western Africa Severstal announced that its Severstal Resources mining division has closed the transaction to purchase up to a 61.5% stake in African Iron Ore Group Ltd («AIOG») which owns, through subsidiaries, the exploration rights for an iron ore deposit in the Putu Range area, Liberia ...
2008-12-10 11:24:17 NLMK agrees to sell stake in Tuapse Seaport Novolipetsk steel has announced that it has agreed to sell its 69.41 % share in OJSC Tuapse Seaport (TMTP) to Universal Cargo Logistics Holding B.V. (UCLH). The transaction is subject to antitrust regulatory approval and is expected to close in two months. This divestiture is in ...
2008-12-09 12:27:31 UC RUSAL invests almost $35 mln UC RUSAL has announced an expansion of the RA-400 pilot area at the Sayanogorsk Aluminium Smelter to test several new RA-400T cells that will be used at the Taishet aluminium smelter, which is currently under construction. The RA-400T upgrade and operational testing programme has cost the ...
2008-12-09 10:28:44 Mechel obtains credit lines from VTB Bank VTB Bank has opened one-year credit lines totaling 15 billion rubles for Yakutugol OJSHC, Southern Kuzbass Coal Company and CMK, subsidiaries of Mechel. The credit facilities will be used to fund the operations of these subsidiaries. The establishment of the credit line is a continuation of ...
2008-12-05 10:19:05 Evraz Board elects Alexander Abramov new Chairman Evraz Group announced the election of Alexander Abramov as Chairman of Evraz's Board of Directors. He succeeds Alexander Frolov who will remain the Company’s CEO.Splitting the roles of Chairman and CEO will ensure Evraz is best positioned to deliver the Company’s strategic and ...
2008-12-03 11:21:29 TMK to Ship Premium Connections to Rosneft TMK announced that it signed a supply contract for TMK FMC Premium threaded casing with Rosneft. The premium grade tubulars will be used in the development of the Vankor oil and gas field located in eastern Siberia. The agreement was signed between TMK Premium Service and Rosneft ...
2008-12-01 10:38:56 MMC Norilsk Nickel announced preliminary consolidated production results for IIIQ Norilsk Nickel announced preliminary consolidated production results for the third quarter of 2008 at its Polar and Kola Divisions in Russia and international operations in Finland, Australia, Botswana and South Africa. • Overall saleable nickel production for the first 9 months ...
2008-11-28 05:01:40 Victor Rashnikov: We Have Everything Necessary for Overcoming the Crisis Victor Rashnikov, Chairman of the OJSC MMK Board of Directors, emphasized the Company's advantages which will contribute to overcoming the current financial and economic crisis. According to the Company's CEO, one of the Company's most important advantages is the fact that in recent years ...
2008-11-27 13:55:13 First production of the Ural Steel’s modernized Rolling Mill 2,800 was shipped to customers The first consignment of commercial steel products with improved consumer characteristics was produced at Ural Steel (a subsidiary of Metalloinvest Holding Company) at the modernized Rolling Mill 2,800. The new product met the strong demand of the manufacturers of tubes, bridges and ...
2008-11-27 13:26:51 Evraz receives VEB loans Evraz Group announces signing of a $1,006.5 mln loan with Russia's State Corporation Bank for Development and Foreign Economic Affairs "Vnesheconombank (VEB). The first tranche in the amount of $201.3 mln was used to refinance the Company's short-term debt. VEB approved credit lines for ...
2008-11-26 10:37:47 Interros and UC RUSAL reach cooperation agreement on Norilsk Nickel Interros Holding Company and UC RUSAL have reached a cooperation agreement in relation to MMC Norilsk Nickel in order to restore the value of the company and provide for its dynamic growth.
2008-11-26 10:35:11 Norilsk Nickel closes a 10 year credit facility covered by Euler Hermes OJSC “MMC “Norilsk Nickel” and a group of western financial institutions signed a EUR 278,8 million facility covered by Euler Hermes Kreditversicherung AG for the purpose of refinancing of its shipbuilding program for the construction of four arctic icebreaking class ...
2008-11-25 12:09:38 TMK FMC Premium Connection Tested to 5,700 Meters TMK announced that its FMC premium threaded casing connection was successfully tested to 5,700 meters at the Pirkovskoe gas field. TMK Premium Service tested the 168.28mm OD TMK FMC premium casing of N80 Q grade and 10.59mm wall thickness at Cadogan Petroleum’s Pirkovskoe gas ...
2008-11-24 14:05:12 NLMK revamps hot strip mill 2000 Novolipetsk Steel has revamped its hot strip mill. The upgrade will increase capacity by 195,000 tpa, improve the quality of hot-rolled products and ensure the safe and smooth operation of the equipment. The revamp covered the cooling system for the metal and work rolls ...
2008-11-24 10:11:50 MMK cuts costs and increases liquidity To overcome the consequences of the crisis the company has devised a crisis management program aimed at increasing liquidity and cutting costs. It introduces strict control and saving in the use of all kinds of resources, decreases consumption rates for raw materials and auxiliaries, ...
2008-11-21 16:49:49 Severstal-metiz reports on its financial results for the first 9 months of 2008 The 9 months net profit of the group of companies (according to IFRS*) has increased by 4.8 times compared with the same period in 2007, reaching $73 mln. Revenue increased by 28.7 per cent, from $754.4 mln in 2007 to $970.7 mln in 2008. EBITDA was $119 mln; 121.6 per cent higher. ...
2008-11-21 07:53:49 VSMPO-AVISMA: There is no panic about crisis The meeting «Development strategy of VSMPO- AVISMA Corporation in the World Financial Crisis Conditions» for representatives of regional mass-media with Eugene Romanov, Director General and Michael Voevodin, Member of the Board of Directors took place in the museum of ...
2008-11-19 10:39:46 Reinhold Steiner Is Heading ChTPZ-Group As The New CEO In accordance with the Company's resolution, Mr. Reinhold Steiner was appointed CEO of ChTPZ-Group, Chelyabinsk Pipe-Rolling Plant and Pervouralsk New Pipe Plant effective November 17, 2008. He succeeded Pavel Pelugin who will handle Group-wide projects. Mr. Steiner ...
2008-11-18 13:42:59 Severstal 9M net profit doubles According to unaudited data, Severstal's net profit under IFRS grew 2.1 times to $3.24bln in the first nine months of 2008 compared with the same period of the previous year, the Russian steel producer said in a statement today. Similarly, revenue climbed 60.6 percent to $18.152, gross ...
2008-11-18 07:16:03 TMK completes key strategic investment projects TMK announced that it commissioned a new electric arc furnace (EAF) at its Seversky Tube Works (STZ) subsidiary. The steelmaking equipment was supplied by SMS Demag and its commissioning marks the completion of key strategic initiatives formulated to increase the efficiency of production ...
2008-11-17 13:47:45 Evraz Secures VTB Financing Evraz Group S.A announced that Russian bank VTB has granted Evraz a one-year 10 bln rouble (approximately $360 mln) credit facility. The two loans of five billion roubles each have been extended to NTMK and Zapsib, Evraz's Russian subsidiaries. The loan proceeds were used for regular tax ...
2008-11-17 12:23:05 Severstal will pay a divident Severstal's Board of Directors, held on 13-14 November 2008, recommended a dividend of 7.17 rubles ( appr. $0,26) per share and per global depositary receipt ("GDR") for the third quarter 2008 with the record date of 14 November 2008. Each GDR represents one share in the ...
2008-11-17 11:18:45 Mechel has been signed a between its Chelyabinsk Metallurgical Plant subsidiary and Russian Railways Mechel announces that a contract has been signed between its Chelyabinsk Metallurgical Plant (CMP) subsidiary and Russian Railways (RZhD) for the supply of rail products. The agreement is in line with the long-term partnership agreement signed between Mechel and RZhD early this year. ...
2008-11-15 10:49:53 The brand "Norilsk Nickel" is worth $235 mln Interbrand international company (Interbrand Zintzmeyer and Lux) has published its regular rating called "The Best Russian brands-2008" in which Norilsk Nickel occupies 16th place (up from the 17th in 2007). It was worth 6.429 bln roubles (appr. 235 mln) then. Among the ...
2008-11-14 10:42:28 NLMK idles two blast furnaces NLMK announces that it is idling two blast furnaces with total capacity of approximately 2.5 mln tn of pig iron. The operations of blast furnaces #2 and #4 will be stopped on November 14 and 18 respectively. The operation of the furnaces will be restarted at the end of Q1 and Q2 2009. As a ...
2008-11-10 02:24:50 Severstal Resources completes bid for shares of PBS Coals Limited Through its mining division Severstal Resources, Severstal announced completion of the offer by 7027940 Canada Limited, an affiliate of Severstal, to purchase the outstanding common shares of PBS Coals Limited (formerly, Penfold Capital Acquisition Corporation). Approximately 99% of ...
2008-11-08 12:06:57 UC RUSAL repays early a $ 4.5 bln loan to foreign banks UC RUSAL early repaid of the $4.5 bln loan provided by a syndicate of foreign banks in April 2008. The loan was used to finance the acquisition of a 25% plus two shares stake in MMC Norilsk Nickel. The source of early repayment is a credit facility received by UC RUSAL from ...
2008-11-07 04:18:04 TMK wins Turkmengas Supply Contract TMK announces today that it was awarded a welded large-diameter pipe supply contract by the Turkmengas state concern. Under the agreement with Turkmenistan’s national gas company, TMK will supply 5,000 tn of K42 grade large-diameter pipes with 630mm OD and 9mm wall thickness. ...
2008-11-06 14:14:03 OMZ’s Skoda JS to Manufacture Drives for Temelin NPP OMZ OJSC (Uralmash-Izhora Group) announced that SKODA JS a.s., a part of OMZ Group, has signed a contract to supply two sets of a new generation of LKP-M/3-type control rod drive mechanism, including control electronics, to CEZ a.s., a Czech energy company. The contract covers design, ...
2008-11-06 11:41:53 Metalloinvest to certify Information Security Management System Metalloinvest Management Company is the first among Russian mining and metallurgical holdings to certify Information Security Management System according to international standards ISO/IEC 27001:2005. It is the only standard which specifies requirements for establishing, implementing, ...
2008-11-05 17:01:56 Russian steel majors slash investment plans A trio of Russia’s largest steelmakers have slashed spending plans in the face of stuttering world steel demand, company sources have told MB. Russia’s largest steelmaker, Severstal, has put plans for two 1 million tpy Russian mini-mill projects on the back burner as demand ...
2008-11-05 05:54:35 TMK Starts Large Diameter Longitudinal Pipe Production TMK, one of the world's largest producers of pipes for the oil and gas sector, announces today that production of large-diameter longitudinal welded pipes began at the Volzhsky Pipe Plant. The successful commissioning of the new 650 thousand tn HAEUSLER mill doubles Volzhsky’s ...
2008-11-04 10:53:15 UC RUSAL has invested over $25 mln UC RUSAL announces the launch of a second dry gas scrubber as part of the fifth potline of reduction cells currently being constructed at the Irkutsk Aluminium Smelter. The first gas scrubber system was installed in December 2007, before the launch of the fifth potline. The combined cost of ...
2008-11-04 09:52:23 NLMK decommissions two coke batteries NLMK announces today that it has decommissioned coke batteries No. 7 and No. 8, which have a combined capacity of 1.04 mln tn per year. The batteries were selected according to the significant level of equipment depreciation and relatively high level of emissions per tonne of output. ...
2008-11-01 06:10:29 10 Days to Conferences! The I st half of 2008 registered the steel industry cycle when prices for everything - raw materials, iron, steel, service’s processing were rising. However, second half of 2008 registered a decline on the market, which has many reasons, one of them - the global economic crisis. In ...
2008-10-31 12:18:07 Chelyabinsk Zinc Plant Reports 6% Production Increase for the 9 months of 2008 Chelyabinsk Zinc Plant announces its production results for the nine months of 2008. January through September 2008, Chelyabinsk Zinc Plant produced 130.1 thousand tn of SHG zinc and zinc based alloys, an increase of 6% as compared to the same period of 2007 (122.7 thousand tn). 54.8% of ...
2008-10-31 12:10:42 UC RUSAL suggests setting up metal reserve UC RUSAL approached Russia's Deputy Prime Minister Alexei Kudrin with a proposal to create a strategic state metal reserve to give an impetus to the Russian processing industry and stabilize metal prices, RBC Daily wrote today. To shore up the aluminum market and prevent a fall in aluminum ...
2008-10-31 06:27:27 Mechel signs contract to construct rail and structural steel mill Mechel announces that it has signed a contract with Minmetals, one of China’s largest state-owned industrial corporations, to construct a rail and structural steel mill at its Chelyabinsk Metallurgical Plant subsidiary. The commercial agreement is the first in accordance with the ...
2008-10-30 12:12:00 Evraz slashes production and capital investment Evraz Group plans to decrease production and capital investment in light of the financial crisis, the metals and mining company's Senior Vice President and CFO Pavel Tatyanin told journalists today. He added that the group intended to reduce output in Russia and Ukraine by roughly 25 ...
2008-10-30 10:39:15 Severstal releases 9m 2008 operational results Production of crude steel in Q3 2008 was 6.0 million tonnes, 14% higher than in the previous quarter. Production of rolled products rose 6% to 4.3 million tonnes q-o-q. Total production of iron ore pellets in Q3 2008 was 5% higher than in Q2 2008, iron ore concentrate production was up ...
2008-10-29 15:57:25 NLMK continues technical upgrading despite the crisis A new 25 MW turbogenerator has been commissioned at NLMK’s main production site in Lipetsk. The turbogenerator will enhance power generation, improve the efficiency of the existing high pressure steam generation facilities, ensure reliable power supply to the shops and ...