2009-04-13 11:06:09 Highveld Enters into a Black Economic Empowerment Transaction Evraz Group announced that its South African subsidiary, Highveld Steel and Vanadium Corporation Ltd. (“Highveld”) concluded an agreement to transfer 26% of the ordinary equity interest in Mapochs Mine (Proprietary) Limited (“Mapochs Newco”) to local partners. This ...
2009-04-10 05:09:34 ChTPZ Group to Supply more than 340 000 couplings to Surgutneftegaz for Tubing Maintenance ChTPZ Group will supply more than 340 000 couplings for Surgutneftegaz tubing maintenance from April to December 2009. Under the contract Surgutneftegaz will receive 118 750 couplings for tubing Ø 60 mm and 221 578 couplings for tubing Ø 73 mm produced at the ...
2009-04-09 13:44:07 Mechel starts blast furnace at its Chelyabinsk Metallurgical Plant subsidiary Mechel announces that blast furnace No. 4 was officially commissioned today at its Chelyabinsk Metallurgical Plant subsidiary (CMP). The furnace was temporarily delayed last November due to its third category capital repair. Blast furnace No. 4 was delayed in November of last year, in ...
2009-04-09 11:40:26 VSMPO-Aisma and Boeing plan to launch JV for machining of parts According to Sergey Chemezov, Head of Rostechnologii State Corporation, VSMPO-AVISMA and the Boeing Company plan to launch JV for machining of technical components during the July visit of the US President Barack Obama to the Russian Federation. "JV grand opening ceremony is planned ...
2009-04-06 10:51:27 Mechel completes its preferred shares placement Mechel announced the completion of the open subscription placement of its preferred shares. The preferred shares placement was completed April 2, 2009, when the procedures of payment and transition of shares to the buyer occurred. During the placement process only one offer to purchase the ...
2009-04-02 11:37:26 Severstal-metiz: good financial results “Implementation of the niche product strategy, intensifying the specialization of the company, costs optimisation, including infrastructure maintenance and customer relations development enabled us to achieve the goals we had set”. This is how Olga Naumova, CEO of the ...
2009-04-01 13:12:47 ESTAR has signed a consulting agreement with Binbank Under an agreement for implementing a programme of restructuring the debts of, and of finding investors for the Group of Companies ESTAR, Binbank has attracted a pool of private investors to provide the Group with working capital financing and funding required for completion of investment ...
2009-03-31 12:07:22 NLMK goes ahead with construction of new blast furnace NLMK has begun the assembly of BF-7 steel structures at its main site in Lipetsk. The new production facility, with capacity of 3.4 mln tn of hot pig iron per year, is the first to be constructed in Russia for 20 years. The design of Blast Furnace No.7 incorporates the most up-to-date ...
2009-03-30 07:11:14 Results of the Board of directors’ meeting A scheduled meeting of the Board of Directors of MMC Norilsk Nickel took place yesterday. Among other issues, the Board discussed the 2009 budget of the Company and its strategy regarding energy assets. I. Key Objectives and Budget for 2009 The Board of Directors approved the current ...
2009-03-27 10:44:01 MMK announces its FY 2008 financial results MMK announces its FY 2008 financial results under Russian Accounting Standards (RAS) Successful performance In 2008 MMK achieved strong financial and operational results. In particular, MMK saw the record levels of revenue and sales income. The ...
2009-03-27 10:40:09 Mechel Announces Bridge Loan Extension Mechel announced a two month extension of its bridge loan taken for the acquisition of Oriel Resources Ltd.. On March, 25, 2009, following negotiations with the banking syndicate which provided Mechel a one-year loan for the Oriel Resources Ltd. (United Kingdom) acquisition, an agreement for a ...
2009-03-27 00:45:00 NLMK continues to implement environmental protection measures in steelmaking NLMK has begun the reconstruction of the gas exhaust ducts of its BOFs with a secondary emissions collection and cleaning system. This measure, applied to the Company’s three BOFs, will increase steel production by almost 11% and reduce annual air emissions by more than 17 thousand tn. ...
2009-03-26 12:08:33 TMK Repays Rub 3 bln bond TMK carried out the repayment of its Series 02 Rouble bond issue of RUB 3 bln and proceeded to its eight coupon payment of RUB 113,700,000. The aggregate amount paid out was RUB 3,113,700. The coupon payment per note amounted to Rub 37.90. The repayment of the bond was financed ...
2009-03-26 11:56:33 Severstal Announces Changes in Executive Management Severstal announced management changes at its Severstal International Division. Gregory Mason has been named as the new CEO of Severstal North America. Mr. Mason will also remain CEO of the Severstal International Division of OAO Severstal. Ronald Nock, formerly CEO of Severstal North ...
2009-03-25 14:22:58 OMZ announces 2007 audited and 1H 2008 unaudited consolidated IFRS financial results OMZ has announced its audited consolidated financial results for 2007 prepared in accordance with International Financial Reporting Standards (IFRS) and its unaudited IFSR consolidated financial results for the first half of 2008. In 2007 the company’s revenues rose 35% to $ 960 mln. ...
2009-03-24 12:57:41 TMK Certifies Line Pipe for Subsea Applications TMK announces today that it successfully certified seamless line pipe to the DNV-OS-F101 offshore standard. The certification of seamless line pipe from TMK Volzhsky was carried out by Det Norske Veritas. The DNV-OS-F101 offshore standard gives criteria and guidance on concept ...
2009-03-24 12:49:49 UC RUSAL and ONEXIM agree on debt restructuring UC RUSAL and ONEXIM Group announce that they have reached an agreement on restructuring RUSAL’s $ 2.8 bln debt. The parties have agreed that $ 2.0 bln of debt will be converted into RUSAL shares. ONEXIM’s stake in RUSAL will consequently increase to 18.5%. The stakes of ...
2009-03-24 12:43:38 Vladimir Kolotushkin has become a new Director of JSC “Uralelectromed” Vladimir Kolotushkin has been appointed as a new Director of Uralelectromed (Metallurgical Complex of UMMC-Holding). Previously he occupied a position of the General Director of Shadrinsk plant of automobile units (Automotive Complex of UMMC-Holding). Today Vladimir Kolotushkin has been ...
2009-03-23 06:20:48 Severstal reports on the Safety Program at plants The “Severstal Resources” division and CherMK (Severstal Russian Steel) spent RUR 1,088.1 million on health and industrial safety activities in 2008 Severstal’s Russian Steel division reported over 250 actions which have been undertaken at the Cherepovets Steel Mill ...
2009-03-20 11:16:33 Mechel's shares are included on MICEX Quotation List A1 Mechel announced the inclusion of its ordinary registered book-entry shares on the MICEX quotation list A1. On March 13, 2009 the Executive Body of Closed Joint Stock Company "Moscow Interbank Currency Exchange" decided to include Mechel OAO ordinary registered book-entry ...
2009-03-19 11:08:11 Alpart announces suspension of operations Alpart (Alumina Partners of Jamaica), owned 65% by RUSAL and 35% by Hydro Aluminium, has announced that owing to the continuing severe decline in the global aluminum industry and the corresponding reduction of alumina demand worldwide, the company will temporarily suspend operations at its ...
2009-03-18 16:36:56 NLMK implements staff retraining programs NLMK announces that it has launched initiatives aimed at retraining its employees. Given the economic downturn, these measures will boost the security of the personnel; help to avoid redundancy measures and train staff to carry out equipment repairs and in-house maintenance. The ...
2009-03-16 12:40:06 Coordination between Steelmakers and Builders is the Way to Overcome the Economic Crisis MetallStroyForum International Exhibition for Steel Products and Structures for Construction will open in Moscow on March 18. The exhibition is a new annual project of Metal-Expo which will be held in a new contemporary exhibition complex of the All-Russia Exhibition Center. ...
2009-03-13 02:04:50 Lisin may call for GAZ's bankruptcy Novolipetsk Steel (NLMK) is ready to take action against GAZ group if the company does not pay off its debts. NLMK could even insist on the company's bankruptcy, chairman of the Russian steel producer's board of directors Vladimir Lisin told journalists. He pointed out that GAZ was neither ...
2009-03-12 13:34:40 What will Happen to Market of Rolled Products for Construction in 2009? This and many other things will be discussed at the traditional spring meeting of participants of the market of rolled products for construction. The program of the 4th International Conference Rebar Steels Rolled Products: Tendencies of Production and Consumption’2009 (17, March, ...
2009-03-12 11:26:06 Noble wins deal to sell VSMPO-Avisma magnesium Trading company Noble Group has won a deal to sell magnesium offtake from Russia-based producer VSMPO-Avisma this year, a source at the company told MB. He was unable to disclose the total volume of the offtake, or the price at which Noble is concluding business. Avisma produces ...
2009-03-12 10:44:48 NLMK and DBO Holdings, Inc. signed settlement agreement NLMK and DBO Holdings, Inc. have signed a settlement agreement with respect to their dispute concerning NLMK’s proposed acquisition of John Maneely Company, which NLMK terminated in November 2008. The agreement provides for the full mutual release and discharge by NLMK and DBO from ...
2009-03-12 10:19:56 TMK Ships First Batch of Longitudinal LD to Gazprom TMK announces today that it began shipments of 1420mm large-diameter longitudinal welded pipes to Gazprom. The pipes will be used in the construction of the Bovanenkovo-Ukhta gas pipeline. During the month of March, TMK will ship 5,000 tonnes of 1420mm longitudinal welded pipes with 26.4 mm ...
2009-03-11 10:55:01 Severstal reports good FY 2008 results Severstal reports good FY 2008 results; takes decisive action for the current challenging environment Financial Results for the year ended 31 December, 2008 ($ mln unless otherwise stated) 2008 2007 4 Change, y-o-y Revenue 22,393 15,503 44.4% ...
2009-03-11 03:56:37 In some cases, the government could buy into large Russian companies to support them In some cases, the government could buy into large Russian companies to support them, First Deputy Prime Minister Igor Shuvalov told reporters following an economic conference yesterday. He stressed that such decisions would be exceptions, and they would be debated publicly. “We have ...
2009-03-10 15:05:05 Evraz announces new appointments Evraz Group today announced the appointment of Alexander Boreyko as Director of Investor Relations and Sergey Lavrinenko as Head of Communications and Public Affairs. “I am confident that the professional experience of Alexander and Sergey will even further strengthen position of ...
2009-03-10 12:07:36 ZMZ develops new technologies A new rolling technology was developed in rolling shop №1 at Zlatoust Metallurgical Works. They rolled rounds in dia. 230 and 240 mm and length up to 6m on mill 1150. ZMZ used to produce rounds of 210mm diameter in length up to 3m. At present a new roll pass design is being ...
2009-03-10 11:22:16 UC RUSAL signs a standstill agreement UC RUSAL has signed a standstill agreement in relation to the restructuring of its debt to the international lending banks. The standstill will be effective for a period of two months with the possibility of extension for a further month and will provide RUSAL with additional liquidity. The ...
2009-03-06 11:10:44 Norilsk Nickel opens new office in Shanghai OJSC MMC Norilsk Nickel announces the opening of its new sales office in Shanghai, People’s Republic of China. The new company is registered in accordance with the law of PRC and holds all necessary licenses and permissions. Today two other offices operate in China including a ...
2009-03-05 13:13:14 The charge of steel enterprises in February increased by 15-17% The charge of steel enterprises in February increased by 15-17%, said Minister of Industry and Trade of the Russian Federation Viktor Khristenko on the «Russian News Service» radio station. «This is caused by some sort of action of such speculative factors as traders for ...
2009-03-05 11:39:08 RUSAL’S ARMENAL foil mill reaches design capacity Moscow, 4 March 2009 – UC RUSAL, the world’s largest aluminium and alumina producer, is pleased to announce that ARMENAL, the group’s foil mill located in Armenia, reached its design capacity of 25,000 tonnes. From December 2008, the daily output of aluminium foil at the ...
2009-03-04 18:51:52 OMZ’s IZ-Kartex Supplies Two EKG-10 Shovels to Chinese Customer OMZ (Uralmash-Izhora Group) reports that IZ-KARTEX, a part of OMZ Group, has begun shipping two EKG-10 shovels for China’s Kholinkhe open pit coal mine. The $5 mln contract was concluded in September 2008. In March IZ-KARTEX plans to supply the Chinese customer with two EKG-12 shovels ...
2009-03-04 14:28:48 Economic revival possible in H2, presidential aide says Although the Russian economy is unlikely to start recovering in the next three to four months, a certain revival is possible for a number of industries in the second half of 2009, Presidential Aide Arkady Dvorkovich told a press conference today. He noted that according to analysts' estimates, ...
2009-03-03 17:20:26 Severstal's Russian iron ore production at 70% of capacity in Q1 Severstal is running its Russian iron ore operation at 70% of capacity for the first quarter of 2009, Severstal Resources ceo Roman Deniskin told to Metal Bulletin. Severstal operates two iron more mines in Russia, Karelsky Okatysh and Olkon. They produced around 14 mln tn of iron ore in ...
2009-03-03 11:01:00 Andrey Varichev is appointed General Director of Metalloinvest Metalloinvest is pleased to announce that Andrey Varichev, First Deputy General Director of Metalloinvest Management Company, is appointed General Director of Metalloinvest Management Company. Maxim Gubiev stands down from the post of General Director of Metalloinvest Management Company but ...
2009-03-02 14:02:44 Finance minister estimates 2010 GDP growth Russia's GDP growth may amount to 2-3 percent in 2010, Russian Deputy Prime Minister and Finance Minister Alexei Kudrin told journalists today. He believes that the crisis will be over "when private demand starts to increase." Therefore, the government must devote all of its efforts ...
2009-03-02 12:26:41 MetallStroyForum Promoters to Contact End User MetallStroyForum Organizing Committee has launched a large-scale advertising campaign of the event including distribution of 40 thousand invitations to MetallStroyForum International Exhibition for Steel Products and Structures for Construction (March 18-21, The All-Russia Exhibition ...
2009-02-27 17:00:35 Severstal announced the temporary cessation of operations of the steel galvanizing line Severstal announced the temporary cessation of operations of the steel galvanizing line at its Severstal Warren facility. Both the galvanizing line and the mill, which has been offline since October, will remain inoperative while the company balances production volume to match current demand. ...