Rusal. March

UC Rusal, the world’s largest aluminium producer, announces its full year results for 2010. Key highlights Financial Net profit of US$2,867 million for 2010 compared to net profit of US$821 million for 2009. Revenue increased by 34.5% to US$10,979 million as a result of higher aluminium market prices, improved product mix and premiums. Total investments in development of existing facilities and construction of new assets amounted to US$798 million. Adjusted ...

UC Rusal announces the signing of a Memorandum of Understanding (MoU) with Xinshan Aluminum Industry Demonstration Park, China’s largest organization responsible for the development of aluminium production in the country and supported by the Chinese Government. The MoU signed provides for cooperation in joint projects on bauxite mining and production of aluminium and alumina.  The signed MoU confirms the parties mutual interest in potential cooperation in the following ...

UC Rusal, the world’s largest aluminium producer and owner of a 25% stake in MMC Norilsk Nickel, welcomes the election of a more balanced board of directors at the extraordinary general meeting of shareholders on 11 March 2011. Rusal is pleased that all candidates supported by Rusal have been elected to the Board of Norilsk Nickel including Mr Alexander Voloshin, a senior statesman and prominent Russian business leader, and Harvard Professor Lucian Bebchuk, a landmark figure for ...

MMC Norilsk Nickel announces results of the Extraordinary General Meeting of shareholders (EGM), which took place on March 11, 2011. As reported earlier, the EGM had been initiated for the second time in less than six months by UC RUSAL Investment Management LLC (subsidiary of UC Rusal Plc), the holder of over 10% stake in the Company. The agenda of shareholder meeting included two items: pre-term termination of powers of the Board members and election of the new Board of Directors ...

Russian aluminum producer United Co. Rusal sees good prospects for aluminum due to growing demand from Japanese reconstruction in the wake of the devastating earthquake and tsunami. Rusal, which sends about 8% of its exports to Japan, expects demand for the metal to rise there in the medium- and long-term to meet construction and infrastructure needs, the company's spokeswoman said Thursday. She said Rusal is «in a unique position to support Japan...with short lead times and ...

UC Rusal announces that it has made debt repayments in the total amount of approximately USD835 million to its international lenders, Russian lenders and Onexim Holdings Limited under the International Override Agreement (IOA). The debt repayments were made on four separate dates, 16 February, 25 February, 4 March and 10 March 2011. USD305 million of voluntary prepayments had been repaid out of the free operating cash flow and USD530 million using the funds received from the recent ...

On 9 March 2011, the US Federal District Court for the Southern District of New York granted RUSAL’s application for discovery from Bank of New York Mellon (“BoNY”). The court ordered BoNY to produce all documents concerning the Trafigura Transactions and the Buy-Back, whether those documents are located in the U.S. or abroad. He directed BoNY to turn over to RUSAL for inspection all documents reflecting any instructions it received from Norilsk or Interros ...

Today the Krasnoyarsk Arbitration Court has issued a judgment in favor of UC Rusal by which it compelled Norilsk Nickel to disclose information about its operational activities and certain transactions including the accounting documents for shipments of metal for export and domestically, insurance contracts and all minutes of the Management Board for the period 2009 – 2010.  Rusal based its claim on its lawful interest as a substantial shareholder of Norilsk Nickel in receiving ...

MMC Norilsk Nickel (the “Company”) notes the announcement by UC Rusal that it had rejected the Company's revised proposal to acquire a 20% interest in the Company from UC Rusal’s wholly-owned subsidiary, LLC United Company RUSAL Investment Management, for $12.8 billion. Under the terms of the proposal, US Rusal was required to accept the proposal or call a meeting of UC Rusal’s shareholder to consider it on or before the deadline of 6 pm Moscow time on March 4, ...

UC Rusal announces that the Board of Directors of Rusal have resolved to reject the proposal set out in the letter from MMC Norilsk Nickel to purchase the company’s 20% stake in MMC Norilsk Nickel. The Board of the Company carefully studied  the analysis of the situation provided by the Board’s Committee on Norilsk Nickel matters and approved the Committee’s recommendation to reject the proposal to sell the company’s 20% stake set out in the letter.

Rusal, the world's largest aluminium producer, announces the closing on 1 March 2011 of book with respect to ruble bond issue, Series 07, by OJSC Rusal Bratsk in the amount of 15 billion rubles at a coupon rate of 8.3% p.a. The deal attracted a significant interest from the investors. The overall demand for the bonds exceeded 35 billion rubles with over 100 of orders received. Due to demand significantly exceeding the planned placement volume Rusal was able to consequently lower the ...

UC Rusal announces that in light of the application in the United States District Court for the District of Connecticut that was granted on 25 February 2011 and other factors, the High Court in London today declined to order Debevoise & Plimpton LLP (lawyers acting for Interros, Norilsk Nickel, Corbiere and Raleigh) to disclose documents relating primarily to Trafigura’s purchase of Norilsk Nickel securities on the ground that it was not necessary. The court found that Rusal ...

MMCNorilsk Nickel today announced that Rusal has lost yet another attempt to disrupt Norilsk's $4.5bn Shareholder Value Enhancement Program approved by the Board of Directors on December 28, 2010 and to gain an unfair advantage at the EGM convened (by Rusal) for 11 March. Rusal tried to obtain confidential documents from our own lawyers, Debevoise & Plimpton LLP, under an English procedure pursuant to which a Claimant can in exceptional circumstances obtain documents from an ...

Yesterday Rusal has issued a misleading press statement dealing with the successful discharge of the injunction wrongly obtained by Rusal on 3 February 2011 in the Caribbean island of Nevis. To set the record straight, Rusal obtained the injunction ex parte, that is to say without giving any notice to Corbiere or any shareholders of its intentions. Application was made on a false basis and with serious non-disclosures to the court of the true position. It was Rusal's obligation to ...