2007-05-31 08:40:58 Norilsk Nickel Offer for LionOre Receives Approval from the Finnish Competition Authority OJSC MMC Norilsk Nickel today announced that it has received a decision from the Finnish Competition Authority that Norilsk Nickel’s proposed acquisition of control of LionOre Mining International Ltd. which was notified in Finland on 16 May, 2007, has been approved under the Finnish ...
2007-05-31 08:20:42 Mechel announces opening the expansion of its Mechel Service in Izhevsk JSC Mechel Service is a trading company engaged in domestic sales of Mechel’s metal products whose subdivisions operate in 16 major constituent entities of the Russian Federation.
The official opening ceremony was attended by Mechel Chief Executive Officer Igor Zyuzin, JSC Mechel ...
2007-05-30 12:33:40 OMK Starts Construction of Mill 5000 Vyksa Steel Works (VSW, Nizhni Novgorod Region), part of United Metallurgical Company (OMK), has held a solemn ceremony dedicated to the launch of construction of Mill 5000. The attendees included Russian First Deputy Prime Minister Sergey Ivanov, Presidential Plenipotentiary Envoy to the ...
2007-05-29 12:31:39 Russian Zinc Consumption and Production to Grow In the next five years, zinc consumption in Russia may nearly double up to 400,000 tons, stimulating domestic zinc mining and refining, Chelyabinsk Zinc Plant (CZP) Commercial Director Berislav Galovich said.
Addressing conference participants, Mr. Galovich described the current zinc ...
2007-05-25 12:49:03 The Novosibirsk Tin Plant will pay Rb 3.00 per common share The BoD of Novosibirsk Tin Plant, Russia’s one and only tin producer, has advised shareholders to authorize FY06 dividends of $0.116 (Rb 3.00) per common share when they gather for the company’s AGM, scheduled for June 22. Assuming the shareholders ...
2007-05-25 12:06:22 Evraz to acquire 50% interest in Yuzhkuzbassugol Evraz Group S.A. (LSE: EVR) announces that it has reached an agreement to acquire outstanding 50% interest in Yuzhkuzbassugol from existing shareholders, representing the management of the coal company.
The deal is subject to regulatory permissions and Evraz Board of Directors approval. ...
2007-05-24 17:33:35 Severstal buys a further 9% of Lucchini for Eur 85.2 million JSC Severstal (RTS: CHMF; LSE: SVST) today announces the purchase of a further 9 % stake in Lucchini SpA for €85,200,000. Lucchini produces high-quality steels and long products in Italy and France and has a European distribution network. Its markets include automotive and railways. ...
2007-05-24 11:40:29 Evraz Group declares 2006 final dividend Evraz Group S.A. (LSE: EVR) announces that the Company’s Board of Directors has recommended that the annual general meeting of shareholders to be held on June 20, 2007, approve a final dividend of US$3.30 per common share, or US$1.10 per GDR, in respect of the year ended December 31, ...
2007-05-23 19:35:45 Skoda JS Secures ASME Code Re-Certification Skoda JS, a part of OMZ (Uralmash-Izhora Group) announced that it has passed a re-certification audit ensuring conformity with the American Society of Mechanical Engineers (ASME) Code for Skoda’s facilities for the production of equipment for nuclear power plants.
The company ...
2007-05-23 11:05:07 Norilsk Nickel Increases its Offer for LionOre to Cdn$27.50 per Share OJSC MMC Norilsk Nickel announced today that it will increase its offer to purchase all of the outstanding common shares of LionOre Mining International Ltd. (“LionOre”) (Toronto Stock Exchange and Australian Securities Exchange symbol: “LIM”; London Stock Exchange ...
2007-05-22 15:55:32 Mechel announces winning the auction to acquire shares of Kuzbass Power Sales Company JSC Mechel announces winning the auction to acquire shares of Kuzbass Power Sales Company comprising 49% of the company's charter capital. Together with 1.2% of the shares owned by Mechel previously, its stake in Kuzbass Power Sales Company has increased to 50.2%.
The acquisition of ...
2007-05-22 14:13:01 United Company has allocated USD 1.4 bln for 2007-2013 UC RUSAL, the announces today a new initiative entitled Paving The Way To A Safer World, which is comprised of measures to reduce harmful impact on the environment and minimise climate change risks.
This initiative is part of UC RUSAL’s wider strategy to secure its dynamic ...
2007-05-21 13:40:50 Basic Element Increases Its Share in Hochtief Basic Element increased its share in Hochtief AG (Essen, Germany) to 9.99%, reports press-center of Basic Element.
Early this May, Basic Element affiliate Rasperia Trading Limited became a shareholder in Hochtief, by purchasing 3 percent of the company’s publicly traded ...
2007-05-21 12:28:22 UC RUSAL begins construction of Eurasia’s largest bauxite and alumina complex United Company RUSAL, the world’s largest producer of aluminium and alumina, today announced completion of a state Feasibility Study appraisal for the construction of Komi Aluminium Bauxite and Alumina Complex in the Komi Republic. Investments into the project will exceed US $1.5 ...
2007-05-21 11:13:57 Chelyabinsk Pipe Rolling Plant and EBRD Sign EUR 205 Million Loan Agreement The loan is divided into two tranches – € 145 million and $ 80 million. Part of each loan is being syndicated to commercial banks. The tenor will be nine years for the portion of the EBRD’s loan and seven years for the remaining portion and the syndicated loan. 7-year tenor of ...
2007-05-18 13:51:13 JSC Surgutneftegas and JSC TMK Enter Strategic Partnership Agreement JSC Surgutneftegas and JSC TMK entered into a long-term strategic partnership agreement. The agreement was signed in Moscow by Surgutneftegas CEO, Vladimir Bogdanov and TMK CEO Konstantin Semerikov.
This long-term strategic partnership agreement is valid for three ...
2007-05-18 13:22:03 UC RUSAL launches representative office in Vietnam UC RUSAL enforces its presence in global markets and actively seeks opportunities to strengthen its raw materials base and secure the competitive energy supply required for the construction of greenfield aluminium smelters. Vietnam huge energy potential and rich bauxite resources present ...
2007-05-18 12:33:40 Ashinsky Metallurgical Plant: revenue surged 47% in Q1 2007 The plant’s Q107 financial performance was very encouraging, as revenue surged 47% y-o-y to $56 mln and net income more than doubled to $6.5 mln.
Ashinsky Metallurgical Plant’s revenues rose to $273.7 mln in 2006, up 13% y-o-y, while ...
2007-05-18 06:58:48 JSC TMK has agreed with SMS Demag JSC TMK, one of the world’s largest oil and gas pipe producers and Russian pipe industry market leader announces that it has agreed with SMS Demag (part of the SMS Gmbh Group), one of the largest manufacturers of steelmaking equipment in the world, for the supply of technological ...
2007-05-17 16:01:10 Magnitogorsk Works to Go in Turkey Magnitogorsk Iron & Steel Works has rejected the idea of buying metals assets in Asia after being unable to acquire the Turkish Erdemir in 2005 and Pakistan Steel in 2006. Yesterday, it became known that Magnitogorsk and Turkish Atakas planning to build a rolling mill in Turkey for ...
2007-05-17 11:36:36 Statement by Norilsk Nickel on the Announcement of an Increased Offer by Xstrata OJSC MMC Norilsk Nickel has noted the announcement by Swiss-based Xstrata plc that it will increase its offer to Cdn$25.00 per common share for the shares of LionOre Mining International Ltd.
"We are surprised and disappointed that the announcement includes an unreasonably high ...
2007-05-17 10:15:28 Metal-Expo International Exhibition In the recent years, distribution of ferrous and non-ferrous metals is modernized in Russia quite quickly including equipping with modern equipment for warehouses, stocks and steel service centers, equipment for processing, handling, just in time supplies etc. ...
2007-05-16 13:37:03 Oskol Steel Works saw an improvement in its financials in Q107 Oskol Steel Works (OEMK), part of Metalloinvest Holding, saw a dramatic improvement in its financials in Q107. In particular, the company’s sales (in comparable values) jumped nearly 40% y-o-y to $377 mln. In addition, gross profit climbed nearly 50% to $114 mln as a result of lower ...
2007-05-16 12:57:25 Evraz Group’s major operating subsidiaries report 1Q 2007 RAS Financial Results Evraz Group S.A. (LSE: EVR) announces that its major Russian operating subsidiaries 1 have filed financial results with the Federal Financial Markets Service of the Russian Federation (FFMS) for the three months ended March 31, 2007. The results are prepared in accordance with Russian ...
2007-05-16 10:14:57 Petroleum Development of Oman Certifies VSW as Pipe Supplier Petroleum Development of Oman (PDO), Sultanate of Oman, a leader in the Middle East energy market, has included Vyksa Steel Works (VSW, Nizhni Novgorod Region), part of United Metallurgical Company (OMK), in its list of certified suppliers of main pipes.
Petroleum Development of Oman is ...
2007-05-15 19:05:21 Russia Helped to Build Boeing-787 New airliner Boeing-787, built with the active participation of Russian companies, will take its first flight in June this year. About 1’900 Russian engineers from different design offices work for Boeing. This was announced by Thomas Pickering, Boeing consultant and former US ambassador ...
2007-05-15 14:12:18 United Company RUSAL is planning to make an IPO in November 2007 The Board of Directors Viktor Vekselberg pointed out that the Board would define parameters of the additional share issue in August-September 2007. Vekselberg did not name the exact size of the prospective IPO, but said that the company's main goal was to become a public company. Vekselberg ...
2007-05-15 12:16:29 Metals Market of the Far East - 2007 On May, 17 -18, 2007 Russian Union of Metal and Steel Suppliers (RUMSS) and RUSTEEL will hold “Metals Market of the Far East - 2007” conference in Khabarovsk, during which 2006 will be summed up and tendencies of 2007 will be specified. For the first time the problems of deliveries ...
2007-05-15 10:43:49 UC RUSAL and HYDROOGK begin construction of Boguchanskiy Aluminium Smelter UC RUSAL and HydroOGK have begun construction of the Boguchanskiy Aluminium Smelter. The 600,000 tpa-strong smelter will be one of Russia’s five largest. Total investment in this project is expected to reach USD 2.3 bln.
The Boguchanskiy Aluminium Smelter is being built as part ...
2007-05-14 11:29:25 Norilsk Nickel to boost investments 50% The BoD of NorNickel has adopted a decision to approve a new investment program whereby investments in 2007 are to be increased 50% to $1.3 bn. The figure does not include M&A outlays. According to NorNickel, the bigger investments are needed ...
2007-05-14 09:52:59 Mechel announces commissioning of new berth at its Trade Port Posiet subsidiary JSC Mechel (NYSE: MTL) announces the commissioning of a new berthing wall and warehouse area at its subsidiary, Trade Port Posiet OAO. The commissioning will enable the port to accept a new class of 40K tonne ships this year and will allow Mechel to broaden its capabilities of marketing coal ...
2007-05-14 01:48:29 Net income surged up 201.4% Novosibirsk Tin Plant’s net income surged to Rb 4,407,000 (approximately $170,000) in Q1 2007, up 201.4% as compared to the same period of 2006. Novosibirsk Tin Plant reported a healthy 201.4% y-o-y improvement in net income, which rose ...
2007-05-11 10:29:02 OMK and Gazprom Approve Scientific and Technological Cooperation Program for 2006-2009 The Program's main objective is to master the production of import-substituting and new types of pipes, as well as pipeline fittings with high technical and economic characteristics to meet Gazprom's needs.
Specialists of OMK, as well as Vyksa Steel Works and Trubodetal, part of OMK, ...
2007-05-10 12:02:28 The European Union trims import duty
The European Union trims import duty on aluminum from 6 percent to 3 percent. Until recently, the EU duty on primary aluminum and aluminum alloys stood at 6 percent. The reduction hasn’t extended to alloys, i.e. their duty will remain 6 percent for a while.
The aluminum ...
2007-05-10 10:53:38 Net profit dropped down According to the financial and economic results of the Company for 2006, Belon Group increased total coal production by 6% which amounted to 3,381 thousand tons, while the overall financial performance declined.
Primarily, such increase was achieved due ...
2007-05-10 10:30:26 Overall results of January-April 2007
MMK continues to report stronger operating indicators, including a 8.8% improvement in output of rolled products to over 4 mln tn in January-April, 2007. The steelmaker is perfectly capable of turning out 12 mln tn of rolled ...
2007-05-08 16:40:51 Investment projects in Russia Today a number of investment projects are quickly developed aiming at building of mini-plants for production of steels, billets, structural steels as well as flats. More than 20 such projects have been announced by different companies in the last 2 years which will require ...
2007-05-08 15:21:17 Chusovoy Metallurgical Works has summed up its production results for April 2007. In April 2007, Chusovoy Metallurgical Works produced 7,600 tonnes of automobile springs – a 36% increase as compared with April 2006 (5,600 tonnes). Since early 2007, CMW has produced 25,800 tonnes of automobile springs – a 35% increase YOY (19,100 tonnes).
In April 2007, CSW ...
2007-05-07 14:32:39 Evraz Group purchased of a 29.2% stake in Highveld Steel from Anglo American Evraz Group S.A. (LSE: EVR) announced the purchase of a 29.2% stake in Highveld Steel and Vanadium Corporation from Anglo American plc for US$238 million.
In an agreement announced on summer 2006, Evraz purchased a 24.9% stake in Highveld from Anglo American.
Thus, Evraz owns ...
2007-05-07 11:46:33 Vyksa Steel Works Sums Up Production Results of April and 4 Months 2007 In April 2007, Vyksa Steel Works produced 158,924 tonnes of pipes – a 33.3% increase as compared with April 2006 (119,162 tonnes).
Since early 2007, VSW has manufactured 634,529 tonnes of pipes of various sizes – a 42.2% increase YOY (446,174 tonnes). In April 2007, VSW ...
2007-05-07 10:46:48 Basic Element has acquired 3 percent of Hochtief AG Basic Element, through its affiliate (Rasperia Trading Limited), has acquired 3 percent of publicly traded shares in Hochtief AG (Essen, Germany), repots press-center of Basic Element.
Hochtief is recognized as one of the truly global leaders in construction and construction-related ...
2007-05-03 14:49:02 NLMK-Duferco JV to Acquire Winner Steel NLMK-Duferco JV has reached a definitive agreement with Winner Steel INC. and its controlling shareholder to acquire substantially all the assets of Winner Steel INC. and certain of its liabilities.
The acquisition will be effected through Duferco U.S. Investment Corporation, a ...
2007-05-03 13:41:28 Norilsk Nickel Announces All-Cash Offer to Acquire LionOre Mining International Ltd. OJSC MMC Norilsk Nickel today announced that it will make an all-cash offer to acquire all of the outstanding common shares of LionOre Mining International Ltd. (“LionOre”) (Toronto Stock Exchange and Australian Securities Exchange symbol: “LIM”; London Stock ...
2007-05-02 16:00:11 Norilsk Nickel Group made tender offer to OGK-3 shareholders Today, on May 2, 2007, in accordance with Russian law OJSC Norilsk Zavenyagina Mining and Metallurgical Works, a company of the Norilsk Nickel Group, submitted to OJSC “The Third Generation Company of the Wholesale Electricity Market ” (“OGK-3”) the mandatory tender ...
2007-04-29 10:27:16 SeverStal buys Neva-Metal and Neva Metal Trans for $100 million SeverStal announced that it has acquired cargo company Neva-Metal and freight forwarding company Neva Metal Trans for US$100 million (Neva Metal company for US$ 98,698 million and Neva Metal Trans for US$ 1,308 million) in a move designed to set up an independent export-logistics operation and ...
2007-04-28 10:47:10 Changes in the shareholder structure of the Severstaltrans Company Group The Severstaltrans Group presently includes more than 20 companies that operate in various transportation industry sectors. Before this agreement was reached, the group’s shareholders on a parity basis were Aleksey Mordashov (50%) and the senior executives of the Severstaltrans Group ...
2007-04-27 13:15:11 Chelyabinsk Zinc Plant: + 15.5% in Q1 Chelyabinsk Zinc Plant (LSE: CHZN, RTS: CHZN is pleased to announce its production results for the first quarter of 2007. In January - March 2007 Chelyabinsk Zinc Plant (CZP) produced 40,145 tons of SHG zinc and zinc based alloys, 15.5% more than for the same period of 2006 (34,763 tons). ...