Nlmk. April

VIZ-Stal has signed a contract for LOI (Germany) to supply and supervise the assembly of equipment for the revamping of its Electric Insulation Coating Line (EICL-8). The upgrade of the Strip Finishing Line is a major step towards setting up a process flow for mastering the production of a new product – high permeability steel; it will also improve thin-gage product surface quality and boost GO steel competitiveness in the global market. EICL-8 will be the first line at ...

NLMK has won the right to explore and develop the Zhernovki Gluboki plot of the Zhernovskoye coal deposit located in the Kemerovo region, Siberia, located just below the Zhernovskoe-1 deposit already owned by NLMK. The license fee is RUR420 million. The 13.5 sq km plot has 73 million tonnes of on-balance reserves of high-quality hard coking coal (grade Zh, Russian categories of reserves B+C1). It is located in the territory of the Novokuznetsk and Prokopjevsk regions. It has exit to ...

NLMK, one of the world’s leading steel companies, has signed definitive agreements to purchase a 50% interest in Steel Invest and Finance (“SIF”) from Duferco Group (“Duferco”) for an all cash consideration of c.$600m, payable in four equal annual installments. The transaction will result in SIF becoming a 100% owned subsidiary of NLMK. The Company will finance the transaction out of existing cash funds. The transaction is subject to customary regulatory ...

Novolipetsk has once again become one of Russia’s Top 100 – Ecology and Environmental Management. The title of honor was awarded to the Company for its environmental activity in 2010. The awards ceremony took place in Saint-Petersburg at the 5th Annual All-Russian Conference on Environment and Production, Prospects for the Development of Economic Mechanisms of Environmental Protection, which was organized with the support of the Council of the Federation Committee on ...

On 08 April 2011, the NLMK Board of Directors made the decision to sell NLMK’s 100% holding in Independent Transportation Company LLC (NTK) to UCL Rail B.V., a subsidiary of Universal Cargo Logistics Holding B.V. (UCL Holding). The cash consideration in the transaction is $325 million and assumes that the net debt* of NTK at the completion of the transaction will be around $236 million. The NLMK Board has received a fairness opinion from Deutsche Bank AG (London). An ...

On March 31, 2011 the International Commercial Arbitration Court (ICAC) of the Chamber of Commerce and Industry of the Russian Federation partially satisfied the claims of Nikolay Maximov, Maxi-Group’s minority shareholder, against NLMK. NLMK’s motions to suspend the ICAC proceedings until the resolution of Maxi-Group bankruptcy hearings before the Moscow City Arbitration Court, as well as to disqualify the current arbitration panel, were denied. Having studied the ICAC ...