Metallurgy news

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  • 2010-08-23 11:20:56
    Norilsk Nickel has sold more nickel products that it has produced
    Reportedly, Norilsk Nickel produced 136k tons of nickel (international assets exclusive) and sold 138k tons of nickel products in the period from January to June 2010. Copper production and sales reached 185 and 167k tons respectively in 1H 2010. An average selling price for Norilsk Nickel ...
  • 2010-08-20 12:19:12
    Afrisovgaz to receive more than 0.5bn rubles loan from Savings Bank of Russian Federation
    Srednerussky Bank, Savings Bank of the Russian Federation has signed an agreement on issuing a loan of 527M rubles to Agrisovgaz. This is by far not the first such a large-scale joint project of the Savings Bank and Agrisivgaz. The investments Agrisovgaz will receive this year will be spent ...
  • 2010-08-20 11:40:59
    Gurievsk Steel Works has raised steel output
    Gurievsk Steel Works produced 16.7k tons of open-hearth steel in June 2010 which is by 37% more as compared to the corresponding period of 2009 (12.2k tons), 20.7k tons of long products which is by 88.2% more than in 2009 (11k tons), and 7.5k tons of grinding balls (163% up against July 2009: ...
  • 2010-08-20 10:25:09
    OMZ Group and OOO Galfind complete deployment of new software
    OMZ Group and OOO Galfind, developer of IT solutions for financial accounting, had completed deployment of 1C: Consolidation PROF 8 software used for IFRS accounting. The project was aimed at automation of the existing accounting transformation model in order to consolidate accounting ...
  • 2010-08-19 16:27:57
    Kirov Non-Ferrous Metals Processing Plant to do test runs of continuous annealing line by Otto Junker
    Kirov Non-Ferrous Metals Processing Plant, part of UMMC has entered the stage of the initial run of super thin bands continuous annealing line by Otto Junker. The cost of the line reaches about EUR 6M. Reportedly, all the works are performed according to the schedule. The line is planned to ...
  • 2010-08-19 11:36:48
    Krasny Oktyabr, Volgograd Steel Works produced 233k tons of steel in first 7 months of 2010
    Reportedly, Krasny Oktyabr, Volgograd Steel Works melted 233k tons of steel in the period from January to July 2010 which is 2 times more as compared to the corresponding period of 2009. In April 2010 the Works reached the pre-crisis output volumes. For reference, the Works melted 37.2k tons ...
  • 2010-08-18 11:38:49
    KUMZ became profitable in 1H 2010
    Kamensk Uralsky Metallurgical Works (KUMZ) gained 6.062bn rubles of sale proceeds in 1H 12010 which is almost 71% more compared to the corresponding period of 2009 (3.552bmn rubles). KUMZ net profit reached 241.408M rubles on January – June 2010 as compared to 715.308M rubles of loss in ...
  • 2010-08-18 11:20:35
    Zlatoust Metallurgical Works has increased steel output by 2.2. times since the beginning of 2010
    Zlatoust Metallurgical Works has increased steel output by 2.2. times during the first 7 months of 2010 as compared to the corresponding period of 2009. Output of merchant shapes has increased by 5.4 times. Steel output reached 123.5k tons in January – July 2010 against 57k tons in the ...
  • 2010-08-17 10:18:06
    Mechel announces implementation of summer holidays program for its subsidiaries employees’ children
    Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, continues the tradition of corporate health rehabilitation for children of its subsidiaries’ employees. In line with Mechel OAO’s corporate program on recreation and health rehabilitation of ...
  • 2010-08-17 10:14:57
    RUSAL files suit in Krasnoyarsk arbitration court in connection with Norilsk Nickel’s failure to provide AGM voting ballots
    RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL), the world’s largest aluminium producer and owner of a 25% stake in MMC Norilsk Nickel ‘MMC’), announced that it has filed a suit against MMC in the Krasnoyarsk arbitration court in connection with its failure to provide the voting ...
  • 2010-08-16 12:39:29
    TMK Russian assets started to gain profit
    According to TMK quarterly production results, the total profit of the 4 TMK Russian assets reached 1.943 bn rubles under Russian Accounting Standards (RAS) in 1H 2010 against 605.6 M rubles of loss in the corresponding period in 2009. TMK is the largest Russian manufacturer and exporter of ...
  • 2010-08-16 11:37:27
    Ekaterinburg Non-Ferrous Metals Processing Plant to increase profit by export sales
    Reportedly, Ekaterinburg Non-Ferrous Metals Processing Plant gained net profit of 500.9M rubles under Russian Accounting Standards (RAS) in January – June 2010 against 85.8M rubles of net loss in the IH 2009. Sale proceeds increased 3.3 times reaching 1.066 bn rubles. The company ...
  • 2010-08-13 10:23:49
    NLMK in the list of Russian most innovative companies
    Projects implemented by Novolipetsk Steel (‘NLMK’) in the course of the last 5 years are amongst the Top 50 most innovative projects undertaken by major Russian enterprises, according to research conducted by Mediaholding Expert. The research also includes NLMK in a list of the ...
  • 2010-08-13 10:20:45
    MMK announces financial results under Russian Accounting Standards (RAS) for Q2 2010
    The results reflect MMK (parent company) operations only and may vary significantly from the consolidated financial results under IAS. . * MMK RAS sales rose by 26% in Q2 2010 q-o-q and amounted to RUR53.117 bn. * MMK net profit under RAS net revaluation of investment in securities ...
  • 2010-08-12 10:29:18
    RUSAL files request for arbitration against Interros
    Moscow, 11 August 2010 – UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL), the world’s largest aluminium producer and owner of a 25% stake in MMC Norilsk Nickel, announces the filing of a request for arbitration against Interros to the London Court of International Arbitration (LCIA). ...
  • 2010-08-12 10:26:59
    Board of directors decides to summon Extraordinary shareholder meeting on October 21, 2010
    On August 6, 2010 OJSC MMC Norilsk Nickel (hereinafter – MMC Norilsk Nickel or the Company) received a request to summon an extraordinary shareholder meeting from UC RUSAL Investment Management LLC owning more than 10% of the Company’s outstanding voting shares. Today, the ...
  • 2010-08-11 11:08:41
    RUSAL to refinance USD 4.5 billion loan
    UC RUSAL (HKSE: 486, Euronext: RUSAL/RUAL), the world’s largest aluminium producer, announces that it has agreed all the terms of a proposed loan from Sberbank of Russia, which has been approved by Sberbank and is intended to refinance the loan previously provided to RUSAL by ...
  • 2010-08-11 11:07:02
    UMMC enterprises rank among the top 5 leading non-ferrous products manufacturers
    According to production results of the first 6 months of 2010 Kirov and Kolchugino Non-Ferrous Plants (part of UMMC) rank 1st and 4th respectively among the top 5 leading producers and suppliers of non-ferrous products. The rating has been composed by Metal Supply and Sales and was published ...
  • 2010-08-11 10:43:39
    Demidov Group of Companies has launched cold-formed rebars line
    At the end of July Demidiv Group of Companies launched a line for manufacture of new types of products: cold-formed rebars В500С. The EVG RMV-12-2D S type cold-rolling mill set up at Ryazan Pipes Works allows to manufacture rebars of 4 –12 mm (inclusive) in dia. Due to the new ...
  • 2010-08-10 10:56:03
    Lysva Steel Works raised net profit in 1H of 2010
    Lysva Steel Works part of Unsayur Group raised net profit to 54.3M roubles in 1H of 2010 which is by 14.6 more as compared to the corresponding period of 2009. It has become possible mainly due to fulfilling of a number of measures aimed at reducing expenses and focusing on manufacte of high ...
  • 2010-08-10 10:36:27
    United Metallurgical Company assists the victims of the fires in Vyksa area
    Severe forest fires have spread since the end of July in Vyksa area of Nizhny Novgorod region. According to the official figures, 19 people were killed and more than 500 houses burned in 10 localities of the area affected by the fires. Starting on the very first day of the disaster, UMC ...
  • 2010-08-09 12:50:30
    Izhorskiye Zavody to supply petrochemical equipment for Tuapsinsky oil refinery
    Izhorskiye Zavody, a part of OMZ Group, had won a contract for the delivery of heavy petrochemical equipment for OOO RN-Tuapsinsky NPZ. The contract involves manufacturing of six heavy vessels for deep oil refinery and production of high quality Euro-5 compliant petroleum. Overall weight of ...
  • 2010-08-09 11:03:54
    RUSAL convenes extraordinary general meeting of Norilsk Nickel’s shareholders to elect new board
    Moscow, 6 August 2010 – UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL), the world’s largest aluminium producer and owner of a 25% stake in MMC Norilsk Nickel, announces that it has requested an Extraordinary General Meeting of shareholders (EGM) of MMC Norilsk Nickel in order to elect ...
  • 2010-08-09 10:59:25
    MMK has increased manufacture of high value added products by 1/3
    The share of high value added products in the MMK production program reached 32% in 1H 2010. During this period MMK produced 1642kt of high value added products (against 968kt in 1H 2009) including 556tk of cold-rolled sheets, 680kt of high conversion products, and more than 400kt of products ...
  • 2010-08-06 10:14:22
    OMZ divests Czech steel assets
    On 28 July 2010, OAO OMZ (Uralmash-Izhora Group) (OMZ) signed an agreement to sell one of its Czech subsidiaries, Pilsen Steel, for Euro 125.6 million. The sale will allow the Company to concentrate its resources on its Russia-based specialty steel business which is mainly focused on ...
  • 2010-08-06 10:10:15
    Severstal Columbus welcomes campus partners to provide value-added services for customers
    To expand its range of services to light flat rolled steel consumers, Severstal Columbus LLC yesterday officially welcomed two new downstream campus partners to its Lowndes County facility. At a groundbreaking event attended by Mississippi Governor Haley Barbour, James Hrusovsky, Chief ...
  • 2010-08-05 10:34:25
    Norilsk Nickel board meeting results
    At the regular in-person meeting of the Board of Directors of OJSC MMC Norilsk Nickel (“MMC Norilsk Nickel” or “the Company”) that took place on 3 August the following decisions were made: I. Composition of the Committees of the Board of Directors was approved. ...
  • 2010-08-05 10:28:38
    United Metallurgical Company will allocate 300 million roubles to help victims of fires in Vyksa area
    The United Metallurgical Company will allocate 300 million roubles to help the victims of the fires in Vyksa area. According to Anatoly Sedykh, Chairman of the Board of Directors, despite the fact that due to the force-majeure the company incurs considerable losses, the UMC management decided ...
  • 2010-08-04 10:26:57
    Moody's assigns Metalloinvest Ba3 rating with stable outlook
    Moody's Investors Service today assigned Metalloinvest a Ba3 corporate family rating ("CFR"), a Ba3 Probability of Default Rating and Aa3.ru national scale rating. According to the agency, the rating reflects Metalloinvest's proven iron ore production capacity, its long-life reserve ...
  • 2010-08-04 10:19:50
    RUSAL declares that board of directors of MMC Norilsk Nickel did not decide to create a conciliation commission
    UC RUSAL, the world’s largest aluminium producer and owner of 25% of the shares of MMC Norilsk Nickel, declares that the official results of the meeting of the Board of directors of MMC Norilsk Nickel as announced by MMC in relation to “CREATION OF CONCILIATION COMMISSION” ...
  • 2010-08-04 10:18:05
    New position of president reporting directly to Director General inducted at Norilsk Nickel
    OJSC MMC Norilsk Nickel (hereinafter - MMC Norilsk Nickel, the Company or MMC) informs that its organizational structure has changed: a position of President is inducted at the Company as of August 2, 2010. The President will report directly to General Director Vladimir Strzhalkovsky. ...
  • 2010-08-03 11:13:35
    RUSAL’s position regarding publication of 2010 AGM voting papers on corporate website of MMC Norilsk Nickel
    UC RUSAL, (HKSE: 486, Euronext: RUSAL/RUAL), the world’s largest aluminium producer and owner of 25% of the shares of MMC Norilsk Nickel welcomed the proposal to publish the 2010 AGM voting papers on the Norilsk Nickel website. We welcome this effort to restore transparency and ...
  • 2010-08-03 11:08:17
    Russian steel exports to EU reached less than 50% of the quota in January – July 2010
    European Commission reports that Russian steel supplies to EU in January – July 2010 exceeded 1.5Mt which makes 47.4% of the quota set by the EU.   Supplied by July 30 Quota percentage ...
  • 2010-08-02 10:28:52
    Norilsk Nickel announces preliminary consolidated production results for Q2 2010 and 1st half of 2010
    OJSC MMC Norilsk Nickel (hereinafter – “Norilsk Nickel” or “the Company”), the world’s largest nickel and palladium producer, announces preliminary consolidated production results for the second quarter of 2010 and first half of 2010 at its Polar and Kola ...
  • 2010-08-02 10:23:41
    Chelyabinsk Zinc Plant reports 56% production increase for 1H 2010
    Chelyabinsk, Russia – July 29, 2010 – Chelyabinsk Zinc Plant (LSE, RTS, MICEX: CHZN), Russia’s largest producer of zinc and zinc alloys, is pleased to announce its production results for the six months ended June 30, 2010. In Q2 2010 Chelyabinsk Zinc Plant’s (CZP) ...
  • 2010-08-02 10:17:57
    Evraz Will Introduce PCI Technology at Its Russian Steel Mills
    Evraz Group (LSE: EVR) ("Evraz" or the "Company") started implementation of Pulverised Coal Injection (PCI) technology in the production of pig iron at its Russian steel mills Zapsib and NTMK. This will allow Evraz to use steam coal as fuel for blast furnaces by the end of ...
  • 2010-07-30 10:21:09
    Standard & Poor’s confirms investment grade 'BBB-' rating on MMC Norilsk Nickel and changes outlook from Negative to Stable
    OJSC MMC Norilsk Nickel (hereinafter – Norilsk Nickel or the Company) is pleased to announce that international rating agency Standard & Poor’s (hereinafter – S&P) confirmed the Company’s investment grade credit rating at the level of 'BBB-' .The Outlook ...
  • 2010-07-30 10:14:04
    Beta Steel Corp changes its name to NLMK Indiana
    Beta Steel, a Portage (Indiana, USA) based steel mini-mill specializing in the production of hot rolled coils, today announces that it is changing its name to “NLMK Indiana” effective from July 27,2 010. The Company’s new name reflects its identity and position within the ...
  • 2010-07-29 10:31:04
    Vnesheconombank approves project financing for completion of construction of Boguchanskaya HPP
    UC RUSAL (HKSE: 486, Euronext: RUSAL/RUAL), the world’s largest aluminium producer, announces that the Supervisory Board of Vnesheconombank has approved a financing package amounting to RUR 50 billion (about USD 1.7 billion) for RUSAL and RusHydro to complete the construction of the ...
  • 2010-07-29 10:27:40
    Severstal announces idling of its hot-end facilities at Severstal Sparrows Point
    Severstal (LSE: SVST), one of the world’s leading integrated steel and mining companies, announces the idling of its hot-end facilities at Severstal Sparrows Point, as of July 25, 2010 as previously scheduled. The idling of blast furnace and steel-making facilities is in response to ...
  • 2010-07-28 10:19:37
    Evraz Borrows US$404 Million from Nordea Bank for Four Years
    Evraz Group (LSE: EVR) ("Evraz") announces that its subsidiaries have drawn down on the loan facilities from Nordea Bank totalling US$404 million which are due to mature in June 2014. The proceeds have been used to repay Nordea Bank’s loans in the amount of US$357 million ...
  • 2010-07-28 10:12:43
    NLMK launches new environmental project at sintering operations
    Novolipetsk Steel has launched a new environmental protection project at its Sinter Plant – revamping the central dust collecting system for sintering machines No.3 and No.4 which will facilitate a significant reduction of atmospheric emissions. Due to the gradual modernization of ...
  • 2010-07-28 10:06:06
    Standard & Poor’s confirms investment grade 'BBB-' rating on Norilsk Nickel and changes outlook from Negative to Stable
    OJSC MMC Norilsk Nickel (hereinafter – Norilsk Nickel or the Company) is pleased to announce that on July 27 international rating agency Standard & Poor’s (hereinafter – S&P) confirmed the Company’s investment grade credit rating at the level of 'BBB-' .The ...
  • 2010-07-27 15:13:19
    Severstal consolidated 50.2% of Crew Gold Corporation
    Severstal Gold N.V., subsidiary of OAO Severstal (“Severstal”) (LSE: SVST; RTS: CHMF), is announcing that it has acquired 209,389,500 additional shares in Crew Gold Corporation through over the counter transactions at a purchase price of USD 0.338325 (NOK 2.09) per share on July ...
  • 2010-07-27 10:23:59
    Rating Agency Moody's changes the outlook of MMK's Ba3 rating to positive
    Rating agency Moody's Investors Service has changed the outlook for Magnitogorsk Steel OJSC's ("MMK") Ba3 corporate family rating and the outlook on MMK's Aa3.ru national scale rating to positive from stable. This rating action reflects the fact that in spite of negative global ...
  • 2010-07-27 10:12:59
    UC RUSAL announces structural changes
    Moscow, 26 July 2010 – UC RUSAL (HKSE: 486, Euronext: RUSAL/RUAL), the world’s largest aluminium producer, announces changes in its organisational structure. The current Aluminium and Alumina divisions have each been split into Aluminium and Alumina East and West divisions ...
  • 2010-07-26 17:33:19
    MMK and ChTPZ signed an agreement till 2015
    MMK and ChTPZ signed an agreement on cooperation - «Plate Mill 5000 - Height 239» till 2015 in order to provide Russian oil and gas companies with high quality pipes for construction of new major pipelines and reconstruction of existing pipelines. The parties will cooperate ...
  • 2010-07-26 11:21:53
    Boeing and VSMPO-AVISMA are building up Innovation Research and Development Center
    Farnborough, GB – Boeing company and PSC VSMPO-AVISMA declared of building up the joint innovation research and development center of titanium production practices and materials. Within the framework of this project Boeing and VSMPO-AVISMA will jointly develop the new titanium ...
  • 2010-07-26 11:12:40
    Mechel to launch new high quality and stainless steel production complex at Chelyabinsk Metallurgical Plant
    Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that Russian Prime Minister Vladimir Putin launched a high quality and stainless steel production complex in the arc-furnace melting shop #6 of Chelyabinsk Metallurgical Plant (CMP). While launching ...
  • 2010-07-23 10:24:34
    RUSAL restarts Ewarton Alumina Refinery in Jamaica
    UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL), the world's largest aluminium producer, announces the restart of operations at its Ewarton Works in Jamaica.  The refinery is part of Windalco, which was mothballed in 2009 due to the global economic downturn. The total capacity of the Ewarton ...