Metallurgy news. September

NLMK, the LSE-listed leading steel producer, today announces the results of voting on the resolution proposed at the Extraordinary General Meeting (EGM) held on 29 September 2011. Shareholders approved new versions of NLMK’s internal documents, including the Charter and Regulations on the Board of Directors’ Remuneration, as well as the dividend payment for the first half of 2011 of RUR 1.40 per ordinary share. Further to the Dividend Declaration on 16 August 2011, the ...

UC RUSAL, the world’s largest aluminum producer, announces signing of all agreements with its major lenders in relation to the debt refinancing totaling $9.33 billion. In particular, on 23 September 2011, the Company and Sberbank of Russia signed an amendment to the $4.58 billion loan agreement effective immediately. This amendment includes extension of the maturity of the loan until September 2016 and the cancellation of the Vnesheconombank (VEB) guarantee. On 29 September ...

Norilsk Nickel, JSC announced that its subsidiary, Norilsk Nickel Investments, LTD. plans to purchase shares of Norilsk Nickel, JSC (including Common Shares and ADSs, individually or together, the “securities” and each a “security”) for $306 (payable in rubles) per Common Share, or $ 30.60 per ADS in an amount up to 14,705,882 Common Shares (including Common Shares and ADSs in any combination), which represents approximately 7.71% shareholding in Norilsk Nickel. ...

Severstal, JSC, one of the world’s leading vertically integrated steel and mining companies, announces that it is hosting a presentation to investors and analysts in London to update on its development strategy. Presentations will be given by the senior management team led by Chris Clark (Chairman) and Alexey Mordashov (Chief Executive Officer) setting out the Company’s strategic focus on steel and steel-related mining with the objective of becoming a global industry ...

Excavator EKG-32R, manufactured by IZ-KARTEKS (part of OMZ Group), has begun test operation on Krasnoborodsky coal mine, which belongs to Kuzbassrazrezugol, JSC. Excavator EKG-32R with bucket capacity of 32 cubic meters and a working weight of 950 tons is the most powerful crowd power excavator, ever manufactured in USSR and Russia. It is the first Russian-manufactured electric excavator equipped with an alternating current electric drive. It is produced within the framework of an ...

The steel frame for Small Ice Arena in Sochi (for 7000 seats) is being build, using the metal construction produced by Uraltrubprom. This facility is being built for the 2014 Olympic Games. "We worked on this important order for over a year", - says Elena Malagon, Head of Design Department, Uraltrubprom. "For the Small Ice Arena building we produced 5 k tons of steel frame, including design of spectator stands. Twenty designers created 3056 detailed drawings. ...

EVRAZ Group S.A., notes media publications regarding the partnership with Russian diamond producer Alrosa, JSC in the development of Timir iron ore project in southern Yakutia. EVRAZ confirms that it considers acquisition of 51% stake in this project and will refrain from further comments unless a binding course of action is defined.

MMC Norilsk Nickel, JSC, announces that today international rating agency Standard & Poor’s (S&P) confirmed the Company’s long-term corporate credit rating at the level of 'BBB-' and Russia national scale rating at the ‘ruAA+’ level. The Agency has removed Company’s ratings from Credit Watch Negative. Credit Watch Negative resolution follows the decision by UC Rusal to reject Company’s offer to buy back 15% of Norilsk Nickel own shares for ...

Tatprof (Naberezhnye Chelny, Tatarstan), announced the completion of construction works on installation of a line for the powder-polymer coating of aluminum profiles. At present, the starting-up and adjustment works of the line are being held: service implementation of chemical solutions, configuration and adjustment of software, painting modes are set. The main feature of the new line is the automatic preparation of aluminum profiles for painting. It will increase the volume of ...

TMK, one of the world’s leading oil and gas steel pipe producers, today (September 26th) announces that the “TMK”, JMC Board of Directors has decided to convene an Extraordinary General Meeting of Shareholders (EGM) in the form of an absentee ballot on November 7th 2011. The list of shareholders eligible to participate in the EGM and entitled to dividend has been drawn up according to the shareholder registry as of 3 October 2011. The “TMK”, JSC ...

Severstal and Rugers Group of Companies Set Up Joint Venture. An agreement to this effect was signed on Friday, September 23d, in Moscow by General Director of Division Severstal Russian Steel Alexander Grubman and President and CEO of the RÜTGERS Group Mr. Henri Steinmetz. Severstal holds 49% of the charter capital. Total investments make up USD 26.6 million due to borrowed funds over a period of 5 years. A representative of the Rutgers Group of Companies will be appointed ...

China wants to close its market for transformer steel from Russia, by raising the import tax to 65%. As a result, Russian manufacturer - NLMK - may lose one of the major sales markets, which accounts for about 10% of this product exports. NLMK addressed Ministry of Economics with the request to discuss issues about the supply of transformer steel from Russia to China at the upcoming meeting of the intergovernmental commission between the two countries. This summer the Ministry of ...

According to corporate newspaper “Metallur”, representatives of German companies Prawest and Praturbo inspected the manufacturing process of titanium rods procured from VSMPO-Avisma. After inspection of production capacities and close examination of technological documentation, they stated that Russian products are fully consistent with the highest European standards. VSMPO cooperates with German companies over the past two years. Prawest is involved in aerospace ...

Standard & Poor's Ratings Services (S&P) raised long-term corporate credit rating on TMK, one of the world’s leading oil and gas steel pipe producers, to 'B+' from 'B'. At the same time, the Russia national scale rating was raised to 'ruA' from 'ruA-'. The upgrade reflects the improvement in TMK's liquidity and its operating and financial performance in the first half of 2011. In the first half of 2011, TMK’s fully adjusted ratio of debt to EBITDA improved to 3.3x ...

The construction project of the Tyumen plant will receive co-financing of 1 billion Rub from the Investment Fund of the Russian Federation. The Russian government is ready to provide state support from the Investment Fund to build infrastructure of the Tyumen Electric-Steel Plant (part of the Ferrous Steel Division “UMMC-Steel”) of 953.5 million rub. “The allocated funds will increase the pace of Tyumen Mini Steel Plant construction. Also, we would like to thank ...

The first slabs have been successfully cast at Novolipetsk’s (NLMK’s main production site in Lipetsk) newly revamped 2.5 mtpa continuous casting machine (CCM-8). The objective of the CCM-8 reconstruction project was to increase output, expand the product mix and ensure a consistently high quality of concast slabs for further conversion into flats. Currently the maximum thickness of slabs produced by continuous casting machines in Russia is 300 mm. Following the CCM-8 ...

On September 21st, visiting meeting of “Gazprom”, JSC with representatives of the leading Russian metallurgical and pipe companies was held in Chelyabinsk. Director General of “MMK”, JSC Boris Dubrovsky attended this meeting. Forum participants discussed cooperation results of sheet metal strips and pipe manufacturers for “Gazprom”, JSC; as part of implementation of development strategy of Russian gas transportation system. One of the discussed ...

Holding “METALLOINVEST”, the Ministry of Transport and Krasnodarsky Krai announced that they have signed a cooperation agreement to build a new port complex in Taman, Russia. The document was signed by CEO of Management Company “METALLOINVEST” Eduard Potapov, Russian Transport Minister Igor Levitin and Governor of the Krasnodarsky Krai Aleksandr Tkachev. The agreement includes construction of a new port terminal and will facilitate iron-ore shipments, which are ...

The meeting of the Board of Directors of MMC Norilsk Nickel in absentia was held on September, 21. By the majority of votes the Board of Directors approved of the acquisition of the Company’s ordinary registered non-documentary shares and/or ADRs by Norilsk Nickel Investments Ltd (100%-owned by MMC Norilsk Nickel) by announcing a public offer. The date of applications submission shall be determined further on. On September, 13 the Board of Directors approved of the offer terms. ...

Agglomachine #3 has been stopped has stopped for capital repairs, for the duration of 75 days at Tulachement, JSC. Uraldomnoremont, JSC (Ekaterniburg) is the maintenance executer. Agglomachine capital repairs, provides one hundred percent replacement of equipment and steel structure of the machine. With the implementation of these works, as well as the technical solutions for the modernization of equipment, the enterprise will obtain a modern and productive agglomachine. ...