2009-01-19 11:44:13 UC RUSAL announces management changes UC RUSAL announced the appointment of Oleg Deripaska as the company's CEO. His candidacy was proposed by EN+ and supported by other shareholders of RUSAL. Alexander Bulygin, who has until recently been the CEO of RUSAL, will move to chair the Board of Directors of EN+ Group, the main ...
2008-12-26 15:21:59 ChTPZ Completes Acquisition of 100% of PNTZ In accordance with Article 84.8 of the Federal Law on Joint Stock Companies on December 25, 2008 OJSC Chelyabinsk Tube-Rolling Plant completed the procedure for the acquisition of 100% of the shares of OJSC Pervouralsk New Pipe Plant under its earlier mandatory offer to redeem the shares, ...
2008-12-25 15:33:57 Chelyabinsk Zinc Plant Announces IFRS Results for 9 Months Chelyabinsk Zinc Plant announced its IFRS financial results for the nine months ended September 30, 2008. 9 months 2008 highlights · Revenue for the nine months of 2008 totaled RUB 8,318 mln compared to RUB 11,646 for the same period last year. · 9 months ...
2008-12-25 12:10:49 UC Rusal sells 50% stake in the company licenced to mine at Ekibastuzskoye Coal Field to Samruk-Energo UC RUSAL has completed a sale of a 50% stake in a company which holds the coal production licence at the Bogatyr and Severny deposits of the Ekibastuzskoye coal field in the Pavlodar region of Kazakhstan to Samruk-Energo, a subsidiary of the Kazakhstan state-controlled national welfare ...
2008-12-24 11:36:30 Construction is Impossible without Aluminium The world economic crisis has negatively affected the world construction industry: today many investment programs are held, there are difficulties with financing of current projects, metal and steel products purchase volumes are reduced etc. All this can not help affecting aluminium ...
2008-12-24 10:42:42 OMZ’s Izhorskiye Zavody to Supply Reactor Equipment for Belene Nuclear Plant in Bulgaria OMZ OJSC (Uralmash-Izhora Group) announced today that Izhorskiye Zavody, a part of OMZ Group, has concluded an agreement with Atomenergoprom OJSC to produce and supply reactor equipment for the Belene Nuclear Power Plant (NPP), Bulgaria. Construction of Belene NPP is the largest ...
2008-12-23 10:46:48 Mechel reports Q1 2008 and 9 months financial results Mechel announced financial results for the first half ended June 30, 2008 and for the nine months ended September 30, 2008. — Revenues in the first nine months increased 84.7% to $8.6 bln — ...
2008-12-22 17:10:46 UC RUSAL statement regarding the situation in Nigeria 20 December morning in Nigeria, in the southern part of Ikot Abasi town a group of militants attacked a township of UC RUSAL's employees, who work at Alscon aluminium smelter. Two employees have been kidnapped. The company is undertaking all possible measures to resolve the situation and ...
2008-12-22 14:29:11 Avisma: The quality management system recertification audit is successfully completed In the result the certificate of environmental management at AVISMA will be extended for a year, the new certificate of the quality management system is issued for 3 years. The audit was carried out by the specialists of the German company TUV NORD. Vera Shkarupa, Leading auditor of TUV ...
2008-12-22 10:00:49 Evraz changes dividend policy Evraz Group announces that the Company’s Board of Directors has approved a change in Evraz’s dividend policy.Beginning with the final dividend for 2008, Evraz will pay dividends not exceeding 25% of its consolidated net income, as calculated under IFRS. Since the Company’s ...
2008-12-19 12:35:59 TMK to Supply Premium Connections to Lukoil TMK announces today that it was awarded a contract by Lukoil for the supply of TMK FMC and TMK GF premium threaded connections. TMK Premium Service, the only Russian company to produce premium threaded connections, will supply Lukoil with OD 168 mm, 245 mm and 324 mm TMK FMC and GF ...
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, ...