2008-07-04 11:00:57 Severstal begins preparatory work at future Severstal Russian Steel construction site Severstal begin preparatory works at a future construction site for the Balakovo Long Product Plant in Balakovo (Saratov Oblast) by creating a circular greenbelt around the site. When complete, the $ 85.3 mln environmental project will provide for waste treatment facilities and nature ...
2008-07-03 12:06:13 NLMK successfully passes Quality Management System audit NLMK has successfully passed a supervision audit of the compliance of its Quality Management System with the international standard ISO/TU 16949:2002 «Quality Management Systems. Specific requirements to the application of ISO 9001:2000 in the automotive industry and by spare parts ...
2008-07-02 12:50:59 Mechel Announces Results of its Annual General Shareholders’ Meeting The Annual General Shareholders’ Meeting adopted the following resolutions:
• To approve a dividend of RUR 26.38 per one ordinary registered book-entry share (about USD 1.12 per one ADR 1) based on the company’s operational results for 2007. The total dividend recommended by ...
2008-06-30 16:31:31 TMK Annual General Meeting of Shareholders TMK announces that the Annual General Meeting of Shareholders of the Company was held in Moscow on June 27, 2008.
The AGM approved a 2007 dividend of 1.03 RUR per TMK share (about $ 0.17 per 1 GDR*, 1 GDR = 4 shares). A total of RUR 899,191,030.00 (around $ 37.7 mln) shall be paid ...
2008-06-30 12:21:31 Chelyabinsk Zinc Plant Holds AGM On Friday, June 27,Chelyabinsk Zinc Plant has held its Annual General Shareholders’ Meeting. Participants in the AGM, including shareholders and their representatives, control 87.18% of the Company’s voting shares.
On behalf of the Board, Vsevolod Geikhman, General ...
2008-06-27 16:11:38 Basic Element increases assets and revenues Basic Element’s revenues in 2007 were $26.8 bln, up 45% on the previous year, while the value of its assets almost doubled to $45 bln. In addition to the increase in assets, an important driver in Basic Element’s revenue growth was the improved production performance of its sectors, ...
2008-06-27 11:43:06 OMZ Oil and Gas Projects Wins International Tender OMZ Oil and Gas Projects (Izhorskiye Zavody) division has won an international tender by NAFTAN OJSC, Belarus, for the production and supply of six reactors for hydrofining of diesel fuel. The value of the contract is more than RUR800 mln.
The equipment will be produced by OMZ production ...
2008-06-25 11:37:37 Severstal to invest $16 bln in 2008-2012 In 2008-1012, Severstal plans to invest more than $16 bln in its assets. Furthermore, the company is mulling the acquisition of a coal company in the USA. We view this news as a positive for the metal maker.
According to its Eurobond issue memorandum, over the period of 2008-2012, Severstal ...
2008-06-23 11:38:38 Decisions of the Board of Directors of Belon The Board of Directors of Belon has held its meeting. It has been made the resolutions in relation to the Company’s plans of expansion into international stock markets.
The Board of Directors has concluded that IPO need to be carried out ...
2008-06-20 03:45:34 Rimera Has Acquired Drilling Company “Taimyrnefterazvedka” Rimera Company, an oilfield service division of ChTPZ Group, has acquired 100% of the shares in the largest drilling company in Taimyr Autonomous Okrug of Krasnoyarsk Krai – Taimyrnefterazvedka JSC.
Today Taimyrnefterazvedka accounts for 70% of exploration drilling in Taimyr ...
2008-06-19 13:51:43 $1,5 bln medium term facility for Norilsk Nickel On June 17, 2008 OJSC “MMC “Norilsk Nickel” and a group of western financial institutions signed a $1,5 bln credit facility agreement.
The facility was arranged and fully underwritten by the Bank of Tokyo- Mitsubishi UFJ Ltd, Bayerische Hypo- und Vereinsbank AG (a member of ...
2008-06-18 12:51:49 UC RUSAL invests more than $ 2 mln UC RUSAL announced plans to invest more than $ 2 mln to find the best new applications for aluminium and to develop innovative products. As part of this Global Technology and Innovation Research Project UC RUSAL and the International Aluminium Institute (IAI) are inviting leading universities ...
2008-06-17 14:32:37 TMK Acquires Kazakhstan Threading and Finishing Facility TMK acquired 100% share capital in Uralsk, Kazakhstan-based OOO ‘’Kaztrubprom’’.
Kaztrubprom specialises in the threading and finishing of tubing and casing pipes used in the oil and gas industry. At present, the company’s production capacity is 60 thousand tn ...
2008-06-17 13:54:55 PSI Awarded Additional Important Contract in Chinese Steel Sector The Chinese PSI subsidiary, PSI Information Technology (Shanghai) Co, Ltd. has been awarded by the steel producer Shougang Jingtang Steel Company with the delivery of a comprehensive Manufacturing Execution System (MES) for the steel mill, the hot rolling mill and the cold rolling mill at its ...
2008-06-17 11:43:45 Evraz Unveils Name Change at Its North American Operations Effective immediately, the new name impacts the North American headquarters in Portland Oregon and all eight production facilities, including; the steel production facilities in Pueblo Colorado, Regina Saskatchewan and Claymont Delaware; the seamless pipe, rod and rail mills in Colorado, the ...
2008-06-16 11:25:26 Chelyabinsk Zinc Plant Announces 2007 IFRS Consolidated Results The media reported the preliminary estimates for Chelyabinsk Zinc Plant’s FY07 financials. According to management’s guidance, revenue is to rise 10% y-o-y to $608.9 mln and EBITDA will drop 16% to $147.7 mln. Net income should reach $75.1 mln in the reporting period. Meanwhile, ...
2008-06-16 10:39:08 TMK Completes Transaction to Acquire IPSCO U.S. Assets TMK announced that it completed the acquisition of the US companies and assets of IPSCO Tubular’s business from SSAB Svenkst Stal AB under a back-to-back transaction with Evraz S.A. (Evraz).
TMK acquired 100% of share capital in IPSCO Tubulars Inc. and 51% of share capital in NS ...
2008-06-11 11:58:25 UC RUSAL successfully tests new colloidal anode paste UC RUSAL announces that it has successfully launched test production of the key component of a unique environmentally sound aluminium production technology - colloidal anode paste. The total investment in this project will amount to $ 25 mln.
The main goal of this project, developed by ...
2008-06-10 12:21:34 VSMPO-AVISMA on the XII St. Petersburg International Economical Forum Within the framework of 12th St. Petersburg International Economical Forum the delegation of VSMPO-AVISMA Corporation took part in the plenary sittings, conference work and panel discussions, held also a number of meetings and negotiations with the Sverdlovsk Region Governor, Rossel, with Heads ...
2008-06-10 11:39:22 FAS could slap export duties on coking coal prices The Federal Antimonopoly Service (FAS) has proposed the Russian government to impose export duties on coking coal and scrap metal with a view to stabilizing metal product prices, Interfax wired quoting fas Head of Industry Control Division Alexei Ulyanov as saying.
The antimonopoly watchdog ...
2008-06-10 11:06:53 Foundry and Rolling Facility Launches Hot Tests of In-Line Equipment Hot tests of in-line equipment have been launched at the Foundry and Rolling Facility (FRF), whose construction is underway in the Vyksa District, Nizhni Novgorod Region.
A few days ago, the FRF Electric Furnace Shop (EFS) started its first test metal-smelting operations using an arc-furnace ...
2008-06-09 11:48:53 ChTPZ Group Has Acquired Control over Yuganskneftegazgeofizika LLC and Tomskneftegazgeofizika LLC ChTPZ Group has got control over key players on geophysical services market in Khanty-Mansiysk Autonomous Okrug and Tomsk Oblast: Yuganskneftegazgeofizika LLC and Tomskneftegazgeofizika LLC.
Acquisition of the geophysical companies has been carried out within the framework of ChTPZ Group ...
2008-06-07 15:55:03 MMK Is Building Up Its Presence in Turkey Before the end of 2008 the Russian-Turkish MMK-Atakas JV plans to start up a steel service centre.
Jointly with the Turkish company Atakas, OJSC MMK is carrying out a steel mill construction project in Turkey. The new mill will be located on two sites, with the core ...
2008-06-07 11:20:09 OMZ Reports RAS Financial Results for 2007 The company’s revenues reached more than RUR21 bln (about $890 mln), 22% more in comparison with 2006. OMZ’s net profit doubled to over RUR1 bln.
OMZ Group’s operating activities in various business segments have stable positive dynamics.
The metallurgical ...
2008-06-06 13:44:47 Norilsk Nickel announces project updates in Botswana 4 June 2008: OJSC MMC Norilsk Nickel has begun commissioning the 12 mln tn per annum Dense Media Separation (“DMS”) plant at Tati Nickel and following a review of project economics, in agreement with the Government of the Republic of Botswana (“GRB”), has ...
2008-06-05 12:39:44 Novobachatsky Now Launched The Novobachatsky open-pit mine has been officially commissioned. The site will allow for the industrial development of two subsoil plots—Novobachatsky and Novobachatsky-3.
The total reserves of both plots amount ...
2008-06-04 10:16:38 TMK Raises Syndicated Facility TMK announces the signing of a syndicated bridge facility agreement of up to USD 1.2 bln to finance the acquisition of the US tubular companies and assets of IPSCO.
The facility agreement was signed on 30 May 2008.
Mandated Lead Arrangers:
• ABN AMRO Bank N.V.
• The Bank ...
2008-06-02 12:26:02 NLMK anti-dumping duty lifted Novolipetsk announced that, as of May 23 2008, the EU resolution on the annulment of the 2005 11.5% anti-dumping duty on transformer steel became effective. The obligation to control minimum prices for products delivered to EU customs territory was also ...
2008-06-02 12:10:48 OMZ to Place Series 6 Bond Issue on June 6 Bonds with RUR1.6 bln total nominal value are to be placed for five years (1,820 days). Par value is RUR 1,000.
Placement is to be held by public subscription on the MICEX exchange. The initial coupon rate will be determined at the auction. Gazprombank OJSC is arranger and underwriter of the ...
2008-05-29 10:58:25 The Board of Directors of MMC Norilsk Nickel recommends the Dividend Rate The Board of Directors of MMC Norilsk Nickel at its meeting on May 28, 2008 adopted a resolution to recommend to the Annual General Meeting (AGM) of shareholders to approve the amount of dividends payable upon the Company’s financial results for 2007 at the rate of RUB 220 ($ 9.34 ) per ...
2008-05-29 10:39:21 TMK and Turkmenneft State Concern Sign Cooperation Agreement Within the framework of the development of long-term cooperation, TMK announces that it has signed a cooperation agreement with Turkmenneft State Concern. The Chairman of the Board of Directors of TMK, Dmitriy Pumpyanskiy, and the Chairman of Turkmenneft State Concern, Gariyakdy Tashliev, ...
2008-05-28 17:56:42 Bratsk Ferroalloy Plant Has Won The Tender Mechel announced that its Bratsk Ferroalloy Plant subsidiary has won the tender to acquire the rights to utilize the subsoil plot on the Uvatsk deposit of quartzite and quartz sandstones.
The tender was announced by the Irkutsk Region Subsoil Use Agency (Irkutsknedra). According to ...
2008-05-27 11:17:12 OMK Publishes Annual Report for 2007 United Metallurgical Company has published its Annual Report. The year 2007 saw a breakthrough in OMK’s development: the Company produced 1,845,086 tn of various types of pipes, exceeding the 2006 figure by more than 10%. The Company manufactured 944,733 large-diameter pipes. In 2007, the ...
2008-05-26 12:44:52 UC RUSAL to expand cast-house production at Irkutsk Aluminium Smelter UC RUSAL announced the investment of around $50 mln into the expansion of cast-house production at Irkutsk Aluminium Smelter. The expansion is required due to the previous introduction of two new potrooms, which increased production capacity of the smelter by 170,000 tn of aluminium per annum. ...
2008-05-26 12:32:48 NLMK makes mandatory offer to minority shareholders of its Russian subsidiaries Novolipetsk Steel announced that it has initiated a mandatory offer to purchase the outstanding share capital of its subsidiaries - Stagdok, Dolomite and Altai-koks.
The offer is made in accordance with Russian legislation and will enable NLMK to more efficiently manage these subsidiaries. ...
2008-05-23 15:36:06 International Aluminum Forum will be In Moscow In less than a month, on May 29 The International Conference "Aluminum Rolled Products and Profiles Market in Russia" will begin. A lot of steel conferences has been held in Moscow recently, however, they were dedicated to either development of ferrous metals markets or ...
2008-05-23 12:06:50 TMK Announces Board of Directors Decisions The JSC “TMK” Board of Directors has recommended that shareholders approve a 2007 dividend of RUB 1.03 per share (approximately $0.17 per GDR). The total amount of dividend to be approved at the Annual General Meeting of Shareholders (AGM) is RUB 899,191,030 (approximately $ 37.7 ...
2008-05-22 16:30:13 Mechel announces another phase of technological modernization at BMP The new stranding machine commissioned at Beloretsk Metallurgical Plantwas manufactured by Mario Frigerio, Italy and has an annual capacity of over 4,000 ropes. It will enable BMP to start producing high quality ropes of 11.5 mm - 16.0 mm in diameter and increase its current output of 16.0 mm - ...
2008-05-22 12:34:45 Belon posts 48% decrease in FY07 IFRS net income Belon has reported strong headline financial indicators for 2007. Revenue rose 29%, net income decreased 48% and EBITDA doubled. In our opinion, the company remains an appealing investment option and we retain our Buy recommendation
Belon Group saw a 48% decline in IFRS net income to Rb 659 ...
2008-05-21 16:15:20 NLMK improves its slab quality Novolipetsk Steel has commissioned a scarfing machine which procures the preparation of over 300,000 tn of slabs for rolling per year. This machine will contribute to ensuring a guaranteed high quality surface for NLMK’s flat products.
This facility, manufactured in Germany, is ...
2008-05-21 12:00:47 Severstal Proposes To Acquire Esmark Inc Severstal made a bid to acquire Esmark Inc at $17 per share, the Russian company said in a statement.
Severstal is best positioned to optimize the value of Esmark by creating complementary product lines, geographical alignment and operational synergies. Further, Severstal has developed a ...
2008-05-21 11:06:08 MMK Reports Its Production Results for April and 4 Months of 2008 Overall, in the four months of 2008 MMK turned out 492,400 tn of ready-to-use iron ore, (87.9% against the same period of last year), 3,618,7 tn of sinter (107.5%), 1,941,000 tn of coke (110.4%), 3,433,800 tn of pig iron (110.1%), 4,753,300 tn of crude steel (110.8%), 4,599,600 tn of rolled ...
2008-05-20 11:43:42 Russian Ministry of foreign affairs and MMC Norilsk Nickel sign cooperation agreement Today the ministry of Foreign Affairs of the Russian Federation and OJSC MMC Norilsk Nickel (MMC Norilsk Nickel of the Company) entered into a Cooperation Agreement.
The document was signed by Minister of Foreign Affairs of the Russian Federation Sergey Lavrov and by General Director of MMC ...
2008-05-20 10:11:44 OMZ Completes Transaction to Acquire CHETENG Engineering OMZ OJSC (Uralmash-Izhora Group) announced the completion of a transaction to acquire 100% of CHETENG Engineering s.r.o., a Czech company.
CHETENG Engineering and OMZ Oil and Gas Projects (Izhorskiye Zavody) intend to expand their joint operations in the market for petrochemical equipment ...
2008-05-19 10:45:53 Severstal Acquires WCI Steel Severstal announced that it has reached a binding agreement to purchase WCI Steel, a market leader in the production of value-added steel products based in Warren, Ohio.
According to the terms of the agreement, Severstal will acquire all outstanding equity of WCI for a total cash ...