Metallurgy news

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  • 2008-03-24 16:56:50
    NLMK Establishes Position of Information Technology Vice President
    NLMK announces the separation of the Company’s IT implementation function into a new line of corporate development. To this end, the position of Information Technology Vice President has been introduced. On 2 March, 2007, Vadim Urias was appointed as NLMK’s IT Vice President. ...
  • 2008-03-24 11:18:02
    VSMPO-Avisma picks up titanium assets
    The company announced the takeover of Titan Mining Company holding a license to tap an ilmenite deposit with reserves totaling some 1.3 mln tn. The Tambov regional administration closed a transaction to sell Titan Mining Company, which holds a license to develop a section of the Tsentralnoe ...
  • 2008-03-21 11:47:06
    UC RUSAL expands its cathode producing capacity in China
    UC RUSAL announced that the company has acquired a cathode plant in Baoguan, which is located in the administrative centre of Taiyuan, within the Shanxi Province, in the People’s Republic of China. The plant’s existing annual capacity is currently 9,300 tn of cathode blocks and the ...
  • 2008-03-21 11:28:30

    OMZ OJSC announced a decision on a Series 6 bond issue. The announcement is based on a decision made by the Board of Directors at a meeting held 19 Dec. Bonds with RUR1.6 billion total nominal value are to be placed for five years (1,820 days). The Series 6 issue is to be placed by public ...
  • 2008-03-21 11:14:43
    Severstal reaches agreement to acquire Sparrows Point
    Severstal  today announced that it has reached an agreement to purchase Sparrows Point, a fully-integrated steel mill based in Baltimore, Maryland, United States. Sparrows Point, currently owned by ArcelorMittal, is being sold by Joseph G. Krauss, Divestiture Trustee, as required by the ...
  • 2008-03-20 16:51:13
    Engels Pipe Plant increases shipments of finished goods by 19% in January and February
    Engels Pipe Plant increases shipments of finished goods by 19% up to 8,483 tт in January-February of 2008 on the year-on-year basis, according to the message of ESTAR press service.   According to the provided data, over 2 months the plant produced 5,894 tт of round pipes and 1,957 tт ...
  • 2008-03-20 16:34:45
    Mechel announces commissioning of new mining machinery at Yakutugol
    Mechel announces the commissioning of a new excavator at its Yakutugol subsidiary in line with its mining equipment modernization program. The electrohydraulic PC-8000 excavator, with a 36.0 cubic meter bucket capacity, manufactured by KMG (Komatsu-Germany) is the third excavator of this ...
  • 2008-03-20 16:18:03
    Inprom challenges Evraz and Metinvest in Russian beam market
    Inprom plans to take on Evraz and Ukraine's Metinvest in a battle for market share in the CIS constructional steel market, ceo Igor Konavalov told MB. The distribution and steel service centre company is targeting takeovers of seven or eight H-beam producers and is planning new ...
  • 2008-03-19 15:07:00
    Evraz Calls Off Yuzhkuzbassugol and Raspadskaya Merger
    Evraz Group S.A announced that it has decided to terminate the merger negotiations between Yuzhkuzbassugol, a fully owned coal mining subsidiary of Evraz, and Raspadskaya, Russia's second-largest coking coal producer, originally announced in June 2007.Evraz believes that the proposed merger is ...
  • 2008-03-18 13:37:16
    NLMK makes mandatory offer to minority shareholders of Stoilensky GOK
    Novolipetsk Steel today announced that it has commenced a mandatory offer to purchase the outstanding share capital of Stoilensky GOK (SGOK). The offer is made in accordance with Russian legislation and will enable NLMK to more efficiently manage this subsidiary. The terms and conditions of ...
  • 2008-03-18 10:05:11
    MMK announces the results of statements for the 12 months 2007 according to US GAAP
    ·  The revenue of MMK Group of Companies in the 12 months of 2007 increased by 27.6% compared to the 12 months of 2006 and amounted to USD 8 197 mln. ·  The operating income reached USD 2,079 mln or 25.4% of the revenue. The growth compared to the 12 months ...
  • 2008-03-17 18:55:55
    Financial Results for the 12 months ended 31 December, 2007
    Strong year-on-year growth Financial Results for the 12 months ended 31 December, 2007 ($ mln unless otherwise stated)     2006 ...
  • 2008-03-17 10:44:47
    MMC Norilsk Nickel won the auction to develop the Iisko-Tagulskaya area
    Vostochno-Sayanskaya nickel company, representing the interests of MMC Norilsk Nickel,  won on Thursday an auction  for the right of geological  prospecting, exploration and mining of nickel, copper and metals of  platinum group in the Iisko-Tagulskaya area of Irkutsk ...
  • 2008-03-17 09:04:40
    MMK increases stake in Belon Coal Company
    Magnitogorsk Iron and Steel Company ("MMK") announces creation of a strategic alliance with the Belon OJSC. Creation of the alliance is the result of MMK acquiring 50% stake in company Onarbay Enterprises Ltd, owning 82.6% of the Russian coal-producing company “Belon”. ...
  • 2008-03-14 14:04:46
    Evraz to acquire IPSCO's Canadian plate and pipe business from SSAB for a net cost of $2.3 bln
    Evraz Group S.A. today announced the acquisition of IPSCO’s Canadian plate and pipe business (“IPSCO Canada”) for a net cost of $2.3 bln. The final value will be subject to certain closing adjustments.With plants in Regina, Calgary and Red Deer, IPSCO Canada is a leading ...
  • 2008-03-13 15:07:31
    Severstal board of directors resolutions
    Severstal's Board of Directors, held on 11-12 March 2008, recommended a dividend of 4.00 rubles per share and per global depositary receipt ("GDR") for the FY 2007 with the record  date of 15 May 2008. Each GDR represents one share in the Company. Approval of the dividend ...
  • 2008-03-13 11:49:47
    ChTPZ Group Ships To Customers 14% less in January - February 2008
    Chelyabinsk Tube-Rolling Plant  and Pervouralsk New Pipe Plant shipped 256.8 thousand tnof pipe products to customers in the first two months of 2008, a decrease of 14% as compared to the same period of 2007 (298.1 thousand tn). January through February 2008, Chelyabinsk Tube-Rolling ...
  • 2008-03-12 10:33:36
    Mechel confirms its share capital
    Mechel in accordance with the Rules of the City Code on Takeovers and Mergers (the “City Code”) confirms the Company's share capital. This disclosure under Rule 2.10 of the City Code is made subsequent to the announcement made by Mechel dated March 3, 2008. Mechel hereby ...
  • 2008-03-11 11:00:39
    Rusal raises loan to buy a stake in Norilsk Nickel
    On Friday, UC Rusal and a syndicate of 11 international banks signed off an agreement to extend the aluminum holding a $4.5 bln loan to buy a 25% + 1 share stake in Norilsk Nickel, according to a statement issued by the loan arrangers ABN Amro, BNP Paribas, Credit Suisse and Merrill Lynch. A ...
  • 2008-03-11 10:44:46
    Pilsen Steel Appoints Martin Novak as CEO
    Pilsen Steel s.r.o., a part of OMZ OJSC announced the appointment of Martin Novak as the company’s CEO. The appointment took place on 1 March 2008. Born in March 1967, Mr. Novak graduated from the Mining and Metallurgical Institute, Ostrava, with a specialty in metallurgy. ...
  • 2008-03-06 14:07:16
    TMK Announces Preliminary Results for 2007
    This trading update contains forward looking statements concerning future events. Forward looking statements are based on current information and assumptions of TMK management concerning known and unknown risks and uncertainties. Preliminary financial figures have not been audited and can ...
  • 2008-03-05 12:52:34
    Metalloinvest and Hyundai Steel signed Memorandum of understanding
    Metalloinvest Management Company CEO Maxim Gubiev and Hyundai Steel (steel division of Hyundai Group) CEO Mr. Seung-Ha Park signed Memorandum of understanding. Memorandum stipulates strengthening and extending future cooperation between two companies and switching from customer-supplier ...
  • 2008-03-05 06:55:57
    Norilsk Nickel to Begin Exchanging Information in Order to Evaluate a Potential Merger with Gazmetall
    «Negotiations are conducted in compliance with standard procedures, applied in the world. At present, the two sides hasn’t reached a merger agreement, but there is the desire to discuss the potential for any combinations or deals between the two ...
  • 2008-03-05 06:44:57
    TMK Launches Oilfield Services Division
    TMK launches TMK Oilfield Services. This new independently managed TMK division is comprised of JSC “Orsky Machine Building Plant”, the  “Truboplast” pipe coating company, ZAO “TMK Pipe Maintenance Department” and  “TMK Central Pipe ...
  • 2008-03-04 12:21:54
    Belon Group: Results and Goals
    Belon Group has held a press conference to discuss the Company's performance results for 2007 and its goals for 2008. The Company was represented by Konstantin Lagutin, the First Deputy Director General, and Yevgeny Gaisler, the Deputy Director General for Perspective ...
  • 2008-03-04 06:49:54
    Mechel has interest in acquiring Oriel Resources Plc
    Mechel is currently contemplating the acquisition of Oriel. This process is at an early stage and there can be no certainty that any offer will ultimately be forthcoming. Oriel Resources Plc is a London-based chrome and nickel mining and processing company, which listed on the Alternative ...
  • 2008-03-03 13:45:46
    Auditors confirm the quality of NLMK’s steel products for shipbuilding
    NLMK has successfully passed a re-certification audit conducted by the certification agency Bureau Veritas (France) for compliance with its rules governing shipbuilding slabs . In the course of the audit, Bureau Veritas inspected the production processes of NLMK’s BOF shops and its ...
  • 2008-03-03 13:32:27
    Mechel Announces Agreement On a Long-Term Partnership With Russian Railways
    Mechel  announced that it has signed an agreement on a long–term, mutually beneficial partnership with Russian Railways (RZhD OAO). Mechel will provide RZhD with rolled products for transportation purposes, which will be manufactured at Mechel’s subsidiaries. Under the ...
  • 2008-03-01 12:00:08
    Metal Supply & Sales To Go in Dusseldorf
    "Metal Supply and Sales " magazine finishes preparation of the traditional Special Edition in English which every year introduces the developing Russian steel industry to international manufacturers and tradesr of steel products. The special issue is full of reviews about the tube ...
  • 2008-02-29 17:42:25
    Vladimir Potanin Became a Sole Owner of the Interros Company
    A company, representing interests of Vladimir Potanin, bought out 100% of the Interros Holding Company from ZAO KM Invest. Thus, Vladimir Potanin became the sole owner of the Interros Company.
  • 2008-02-29 12:18:44
    ChTPZ Group To invest Rub 8 bln
    On February 27, 2008, the Kirov Oblast Government and ChTPZ Group entered into an agreement under which the Group would set up a timber industry holding in the Kirov Region. According to the declared intents, by 2010, ChTPZ Group would have built in Vostochny Settlement, Omutninsk District a ...
  • 2008-02-28 15:55:36
    Severstal to Install a New Production Facility at CherMK Severstal
    Severstal today announced plans to invest $500 mln in new facilities at its Cherepovets steel mill. By 2011, Severstal will have installed a new steel making facility, including an arc furnace, a ladle furnace, a continuous-casting machine and a rolling mill producing 1m heavy beams per year. ...
  • 2008-02-28 09:53:06
    UC RUSAL launches ALSCON aluminium smelter in Nigeria
    In February 2007 UC RUSAL acquired a majority stake in ALSCON and immediately began a large scale modernization programme of the smelter, which has been out of operation for eight years. The modernization programme includes completing the construction of the smelter, as well as upgrading the ...
  • 2008-02-27 10:21:52
    Belon Starts Development of Prisalairskaya Polosa
    The Novobachatsky open-pit mine, which is incorporated in Belon Group, obtained a license to explore and evaluate hard-coal reserves at the Prisalairskaya Polosa site, Kemerovo region. The license for the site development was required to increase the coal ...
  • 2008-02-26 11:20:44
    Mechel announces start to construction of railroad to the Elga deposit
    Mechel announces that it has signed a contract and is starting construction of a railway spur track to the Elga coal deposit (Yakutia). The contract for designing and constructing the railway spur track to connect Ulak railroad station of the Baikal-Amur Mainline with the Elga coal deposit ...
  • 2008-02-22 14:48:34
    Severstal to invest $140 mln in Vorkutaugol coal mining business in 2008
    OAO Severstal is planning to make significant investments in coal mining businesses in Vorkutaugol, Northern Russia. Allocations for the development of the Vorkutaugol mines will constitute RUR3.5 bn ($140mln) in 2008 – 4% higher than 2007’s total investment. The largest ...
  • 2008-02-19 11:16:23
    Evraz Enters into a Share Purchase Agreement to Acquire up to 51 per cent of Delong Holdings Limited
    Evraz Group S.A. announced that it has entered into a Share Purchase Agreement (the “Agreement”) with Best Decade Holdings Limited (“Best Decade”) and the shareholders of Best Decade, to acquire from Best Decade up to approximately 51 per cent of the issued share capital ...
  • 2008-02-18 11:17:40
    MMC Norilsk Nickel to complete split of its depositary receipts
    On February 4, 2008 the Board of Directors of MMC Norilsk Nickel (“Company”) instructed the Company management to execute a split of the Company’s depositary receipts. The Company plans to complete this split on February 19, 2008. This spilt is expected to improve the ...
  • 2008-02-18 11:12:20
    NLMK comments on the Federal Antimonopoly Service (FAS) statement
    OJSC Novolipetsk Steel notes the information in mass media regarding the Federal Antimonopoly Service (FAS) refusal to grant NLMK permission to acquire Maxi-Group and announces the following: FAS rejection of NLMK’s request to acquire Maxi-Group was caused by technical mistakes and ...
  • 2008-02-18 10:45:33
    ChTPZ Group Ferrous Division Ships 107.9 thou tn of Product to Customers in January 2008
    Chelyabinsk Tube-Rolling Plant and Pervouralsk New Pipe Plant shipped 107.9 thousand tn of pipe products to customers in January 2008, a decrease of 27% as compared to January 2007 results (148.4 thousand tn). In January 2008, Chelyabinsk Tube-Rolling Plant shipped 58.2 thousand tn of pipe ...
  • 2008-02-15 15:29:45
    Severstal completes acquisition of 100% share capital of Celtic Resources Holdings PLC
    Severstal announces that Centroferve Limited, a wholly owned subsidiary of Severstal, has completed the acquisition of gold miner Celtic Resources Holdings plc (“Celtic”). As at 30 January 2008, when its Offer for Celtic closed, and upon completion of the compulsory acquisition ...
  • 2008-02-14 11:23:03
    Chelyabinsk Zinc Plant Reports 11.2% Production Increase for the 12 Months of 2007
    January through December 2007, Chelyabinsk Zinc Plant (CZP) produced 165,007 tn of SHG zinc and zinc based alloys, an increase of 11.2% as compared to the same period of 2006 (148,384 tn). 49% of zinc sales (by tonnage) were made on the domestic market. The largest Russian steel producers: MMK, ...
  • 2008-02-12 13:53:33
    UC RUSAL announces new appointments
      Oleg Burkatsky, formerly the Managing Director of Krasknoyarsk Aluminium Smelter, has been appointed Managing Director of the Bogoslovsk Aluminium Smelter. He is replaced at the Krasknoyarsk plant by Evgeny Zhukov, who was formerly the Managing Director of the Sayanogorsk Aluminium ...
  • 2008-02-11 17:07:07
    NLMK commissions high capacity continuous casting machine
    Novolipetsk Steel has refurbished and commissioned its most productive 2.5 mln tpa continuous casting machine (CCM-6) which produces a wide range of high-quality slabs of various grades.  This upgrade enables a 1.2 mln tn, increase in capacity by ensuring higher surface and ...
  • 2008-02-11 12:19:26
    VSMPO-AVISMA Corporation and SAFRAN entered into new Long-Term Supply Agreement
    PSC “VSMPO-AVISMA Corporation” announced that it has entered into a new, long-term titanium supply agreement with SAFRAN and its Snecma, Turbomeca, Messier-Dowty, Microturbo and Techspace Aero operating units. The agreement, effective as of January 1, 2008 provides for VSMPO-AVISMA ...
  • 2008-02-08 12:48:50
    Farid Kantserov is a New Chairman of the Board of Directors
    OMZ announced the election of Farid Kantserov as Chairman of the company's Board of Directors. Farid Kantserov is the Deputy Chairman of the Managing Board of Gazprombank OJSC. He was born in 1949. He has a legal education. After working in law enforcement, he then joined Gazpromenergosbyt ...
  • 2008-02-07 13:22:25
    Basic Element Announces Creation of Scientific and Technical Centre
    Basic Element announces the establishment of a Scientific-Technical Centre. In the very near future, the STC will begin introducing the latest advances by Russian and international scientists at more than 80 Basic Element enterprises and invest in developing the group’s own ideas and ...
  • 2008-02-07 12:26:21
    TMK Strengthens Market Position with Premium Connections
    TMK plans to double its production of premium threaded tubing, casing and drill pipes to 24,000 tn in 2008. TMK Premium Service, a division of TMK, focuses on strengthening the Company’s position in both domestic and international markets in this high-tech segment. From 5,500 tn of ...
  • 2008-02-06 14:13:51
    Severstal Releases 2007 Operational Results
    Production of crude steel in 2007 was 17.5 mln tn, broadly in line with 2006 numbers. The decrease in production at Severstal North America  during the period (due to the planned relining of blast furnace “C”) was compensated for mainly by growth in Russian Steel. Production of ...
  • 2008-02-06 14:03:54
    MK Uralmash ships the second trestle crane for Kudankulam NPP in India
    Uralmash Machine-Building Corporation (MK Uralmash) has shipped the second trestle crane for Kudankulam NPP (India). Earlier, the company shipped two polar cranes, one fresh fuel storage crane, and the first trestle crane - in May 2006, for this nuclear power plant. All equipment was ...