News. Russian non-ferrous metallurgy news. September

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. ...

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 ...

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 ...

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 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. ...

Norilsk Nickel does not plan to issue convertible bonds in case market poor conditions and downward dynamics persist. Dmitry Kostoev, Deputy General Director and Head of Economics and Finance Unit of the Company, said that the Company has enough options to attract the financial means necessary for implementation of strategic goals without issuing convertible bonds. Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and ...

UC RUSAL, the world’s largest aluminium producer, is pleased to announce that it has entered into an agreement to acquire a 35% stake in the Alumina Partners of Jamaica, (“Alpart”) from Norway’s Norsk Hydro ASA. Following completion of the USD46 million deal, Alpart will be 100% owned by RUSAL. The acquisition is in line with RUSAL’s strategy to develop the Company’s own reserve base as it looks to be self sufficient in raw materials. Nearly 5% of ...

The meeting in absentia of the Board of Directors of OJSC MMC Norilsk Nickel took place this day. The Company’s Shares Acquisition terms were approved by the majority of votes. The offer envisages the acquisition of 14 705 882 MMC Norilsk Nickel’s ordinary registered non-documentary shares and/or ADRs, representing 7.71% of the Company’s authorized capital. The price shall be USD 306 per share and USD 30.6 per ADR. The acquisition terms completely match the ...

Baikal Mining Company, the Bank for Development and Foreign Economic Affairs (Vnesheconombank) and VEB Engineering Company have entered into a memorandum of intention on September 12, within the framework of the Baikal economic forum in Irkutsk. The document was signed by Vice Chairman of Vnesheconombank Mr.Anatoly Ballo, Director General of Baikal Mining Company Mr. Andrey Varichev, Director General of VEB Engineering Mr. Dmitry Sheibe and member of the Board of Directors of VEB ...

RUSAL, the world’s largest aluminium producer, and the Irkutsk Region Government today signed a cooperation agreement to build a housing settlement for Taishet Aluminium Smelter staff and their families providing housing for 7,000 people. The project includes the construction of housing, social and engineering facilities in the Taishet municipal district. Both parties will also implement mortgage programs in order to facilitate the relocation of employees. According to the ...

Norilsk Nickel announces that at its Meeting in absentia held on September 13, 2011, the Board of Directors of MMC Norilsk Nickel will consider the offer to purchase the Company’s shares from shareholders. The offer envisages the acquisition of 14 705 882 MMC Norilsk Nickel’s ordinary registered non-documentary shares and/or ADRs, representing 7.71% of the Company’s authorized capital. The price of shares and/or ADRs to be purchased from shareholders shall be USD ...

RUSAL, the world’s largest aluminium producer, notes the statement issued by the Federal Anti-Monopoly Service (FAS) against JSC ‘RUSAL Trading house’ on the grounds of presumed abusive action on the aluminium market using the market dominance and considers it necessary to make the following statement. RUSAL believes the FAS’s claims to be groundless, supported by the fact that the initial claim to the FAS has been withdrawn by the complainant. RUSAL ...

MMC Norilsk Nickel announces the introduction of new corporate grants for both students of target preparation groups and interns at the Group companies within corporate Professional Start program. The project aims at increasing the interest of youth to graduate with specialties demanded by the Company and at motivating the achievement of best possible education results with subsequent joining the ranks of MMC Norilsk Nickel employees. The scholarship program is available to ...

UC Rusal, announced that the Board of Directors of Rusal, having carefully discussed the letter received from MMC Norilsk Nickel proposing to acquire 15% of the outstanding ordinary shares of Norilsk Nickel, have unanimously resolved to reject the proposal. The Board of Directors believes the proposed terms of the deal do not reflect the fundamental value of a major stake in Norilsk Nickel, which remains a strategic investment for Rusal.

Bratsk aluminum will be delivered to sea ports almost twice faster. In August, Bratsk Aluminum Smelter developed first “aluminum” freight consignor routes, a freight train consisting on an average of 60 railway cars with the total weight of about 5.500k tons. Previously, Bratsk Aluminum Smelter metallurgists were unable to send products using consignor routes. The natural slope of the railway (which belongs to Russian Railways Corporation), from Zavodskaya to Bagulnaya ...

OJSC MMC Norilsk Nickel, informs that ice-class ARC7 Yenisey tanker passed through sea trials in Wismar (Germany) last week. The trials made it possible to test the performance of vessel’s devices and equipment. The tanker is being built as part of the Company’s own arctic fleet development. According to Sergey Buzov, Deputy General Director of the Company and Head of Transport and Logistics Department, the trials were predictably successful. MMC Norilsk Nickel’s ...

From January to July 2011 “Shardinksy Auto-Aggregate Plant”, JSC (machine-building enterprise of UMMC) produced commodity products for 2 billion 33 million rubles, which is 35% higher y-o-y. During the first 7 month of the current year Auto-Aggregate Plant has increased radiator blocks production by 2.6 times y-o-y, boost air cooler by 1.5 times, cabin heaters by 47 %, heater radiators by 26 %. In July the enterprise exceeded sales volume due to a seasonal increase in ...