Metallurgy news

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  • 2008-11-27 13:55:13
    First production of the Ural Steel’s modernized Rolling Mill 2,800 was shipped to customers
    The first consignment of commercial steel products with improved consumer characteristics was produced at Ural Steel (a subsidiary of Metalloinvest Holding Company) at the modernized Rolling Mill 2,800. The new product met the strong demand of the manufacturers of tubes, bridges and ...
  • 2008-11-27 13:26:51
    Evraz receives VEB loans
    Evraz Group announces signing of a $1,006.5 mln loan with Russia's State Corporation Bank for Development and Foreign Economic Affairs "Vnesheconombank (VEB). The first tranche in the amount of $201.3 mln was used to refinance the Company's short-term debt. VEB approved credit lines for ...
  • 2008-11-26 10:37:47
    Interros and UC RUSAL reach cooperation agreement on Norilsk Nickel
     Interros Holding Company and UC RUSAL have reached a cooperation agreement in relation to MMC Norilsk Nickel in order to restore the value of the company and provide for its dynamic growth.
  • 2008-11-26 10:35:11
    Norilsk Nickel closes a 10 year credit facility covered by Euler Hermes
    OJSC “MMC “Norilsk Nickel” and a group of western financial institutions signed a EUR 278,8 million facility covered by Euler Hermes Kreditversicherung AG for the purpose of refinancing of its shipbuilding program for the construction of four arctic icebreaking class ...
  • 2008-11-25 12:09:38
    TMK FMC Premium Connection Tested to 5,700 Meters
    TMK announced that its FMC premium threaded casing connection was successfully tested to 5,700 meters at the Pirkovskoe gas field. TMK Premium Service tested the 168.28mm OD TMK FMC premium casing of N80 Q grade and 10.59mm wall thickness at Cadogan Petroleum’s Pirkovskoe gas ...
  • 2008-11-24 14:05:12
    NLMK revamps hot strip mill 2000
    Novolipetsk Steel has revamped its hot strip mill.  The upgrade will increase capacity by 195,000 tpa, improve the quality of hot-rolled products and ensure the safe and smooth operation of the equipment.   The revamp covered the cooling system for the metal and work rolls ...
  • 2008-11-24 10:11:50
    MMK cuts costs and increases liquidity
    To overcome the consequences of the crisis the company has devised a crisis management program aimed at increasing liquidity and cutting costs. It introduces strict control and saving in the use of all kinds of resources, decreases consumption rates for raw materials and auxiliaries, ...
  • 2008-11-21 16:49:49
    Severstal-metiz reports on its financial results for the first 9 months of 2008
    The 9 months net profit of the group of companies (according to IFRS*) has increased by 4.8 times compared with the same period in 2007, reaching $73 mln. Revenue increased by 28.7 per cent, from $754.4 mln in 2007 to $970.7 mln in 2008. EBITDA was $119 mln; 121.6 per cent higher. ...
  • 2008-11-21 07:53:49
    VSMPO-AVISMA: There is no panic about crisis
    The meeting «Development strategy of VSMPO- AVISMA Corporation in the World Financial Crisis Conditions» for representatives of regional mass-media with Eugene Romanov, Director General and Michael Voevodin, Member of the Board of Directors took place  in the museum of ...
  • 2008-11-19 10:39:46
    Reinhold Steiner Is Heading ChTPZ-Group As The New CEO
    In accordance with  the Company's  resolution, Mr. Reinhold Steiner was appointed CEO of ChTPZ-Group, Chelyabinsk Pipe-Rolling Plant and Pervouralsk New Pipe Plant  effective November 17, 2008. He succeeded Pavel Pelugin who will handle Group-wide projects. Mr. Steiner ...
  • 2008-11-18 13:42:59
    Severstal 9M net profit doubles
    According to unaudited data, Severstal's net profit under IFRS grew 2.1 times to $3.24bln in the first nine months of 2008 compared with the same period of the previous year, the Russian steel producer said in a statement today. Similarly, revenue climbed 60.6 percent to $18.152, gross ...
  • 2008-11-18 07:16:03
    TMK completes key strategic investment projects
    TMK announced that it commissioned a new electric arc furnace (EAF) at its Seversky Tube Works (STZ) subsidiary. The steelmaking equipment was supplied by SMS Demag and its commissioning marks the completion of key strategic initiatives formulated to increase the efficiency of production ...
  • 2008-11-17 13:47:45
    Evraz Secures VTB Financing
    Evraz Group S.A announced that Russian bank VTB has granted Evraz a one-year 10 bln rouble (approximately $360 mln) credit facility. The two loans of five billion roubles each have been extended to NTMK and Zapsib, Evraz's Russian subsidiaries. The loan proceeds were used for regular tax ...
  • 2008-11-17 12:23:05
    Severstal will pay a divident
    Severstal's Board of Directors, held on 13-14 November 2008, recommended a dividend of 7.17 rubles ( appr. $0,26) per share and per global depositary receipt ("GDR") for the third quarter 2008 with the record date of 14 November 2008. Each GDR represents one share in the ...
  • 2008-11-17 11:18:45
    Mechel has been signed a between its Chelyabinsk Metallurgical Plant subsidiary and Russian Railways
    Mechel announces that a contract has been signed between its Chelyabinsk Metallurgical Plant (CMP) subsidiary and Russian Railways (RZhD) for the supply of rail products. The agreement is in line with the long-term partnership agreement signed between Mechel and RZhD early this year. ...
  • 2008-11-15 10:49:53
    The brand "Norilsk Nickel" is worth $235 mln
    Interbrand international company (Interbrand Zintzmeyer and Lux) has published its regular rating called "The Best Russian brands-2008" in which Norilsk Nickel occupies 16th place (up from the 17th in 2007). It was worth 6.429 bln roubles (appr. 235 mln) then. Among the ...
  • 2008-11-14 10:42:28
    NLMK idles two blast furnaces
    NLMK announces that it is idling two blast furnaces with total capacity of approximately 2.5 mln tn of pig iron. The operations of blast furnaces #2 and #4 will be stopped on November 14 and 18 respectively. The operation of the furnaces will be restarted at the end of Q1 and Q2 2009. As a ...
  • 2008-11-10 02:24:50
    Severstal Resources completes bid for shares of PBS Coals Limited
    Through its mining division Severstal Resources, Severstal announced completion of the offer by 7027940 Canada Limited, an affiliate of Severstal, to purchase the outstanding common shares of PBS Coals Limited (formerly, Penfold Capital Acquisition Corporation). Approximately 99% of ...
  • 2008-11-08 12:06:57
    UC RUSAL repays early a $ 4.5 bln loan to foreign banks
    UC RUSAL early repaid of the $4.5 bln loan provided by a syndicate of foreign banks in April 2008. The loan was used to finance the acquisition of a 25% plus two shares stake in MMC Norilsk Nickel. The source of early repayment is a credit facility received by UC RUSAL from ...
  • 2008-11-07 04:18:04
    TMK wins Turkmengas Supply Contract
    TMK announces today that it was awarded a welded large-diameter pipe supply contract by the Turkmengas state concern. Under the agreement with Turkmenistan’s national gas company, TMK will supply 5,000 tn of K42 grade large-diameter pipes with 630mm OD and 9mm wall thickness. ...
  • 2008-11-06 14:14:03
    OMZ’s Skoda JS to Manufacture Drives for Temelin NPP
    OMZ OJSC (Uralmash-Izhora Group) announced that SKODA JS a.s., a part of OMZ Group, has signed a contract to supply two sets of a new generation of LKP-M/3-type control rod drive mechanism, including control electronics, to CEZ a.s., a Czech energy company. The contract covers design, ...
  • 2008-11-06 11:41:53
    Metalloinvest to certify Information Security Management System
    Metalloinvest Management Company is the first among Russian mining and metallurgical holdings to certify Information Security Management System according to international standards ISO/IEC 27001:2005. It is the only standard which specifies requirements for establishing, implementing, ...
  • 2008-11-05 17:01:56
    Russian steel majors slash investment plans
    A trio of Russia’s largest steelmakers have slashed spending plans in the face of stuttering world steel demand, company sources have told MB. Russia’s largest steelmaker, Severstal, has put plans for two 1 million tpy Russian mini-mill projects on the back burner as demand ...
  • 2008-11-05 05:54:35
    TMK Starts Large Diameter Longitudinal Pipe Production
    TMK, one of the world's largest producers of pipes for the oil and gas sector, announces today that production of large-diameter longitudinal welded pipes began at the Volzhsky Pipe Plant.  The successful commissioning of the new 650 thousand tn HAEUSLER mill doubles Volzhsky’s ...
  • 2008-11-04 10:53:15
    UC RUSAL has invested over $25 mln
    UC RUSAL announces the launch of a second dry gas scrubber as part of the fifth potline of reduction cells currently being constructed at the Irkutsk Aluminium Smelter. The first gas scrubber system was installed in December 2007, before the launch of the fifth potline. The combined cost of ...
  • 2008-11-04 09:52:23
    NLMK decommissions two coke batteries
    NLMK announces today that it has decommissioned coke batteries No. 7 and No. 8, which have a combined capacity of 1.04 mln tn per year. The batteries were selected according to the significant level of equipment depreciation and relatively high level of emissions per tonne of output. ...
  • 2008-11-01 06:10:29
    10 Days to Conferences!
    The I st half of 2008 registered the steel industry cycle when prices for everything - raw materials, iron, steel, service’s processing were rising. However, second half of 2008 registered a decline on the market, which has many reasons, one of them - the global economic crisis. In ...
  • 2008-10-31 12:18:07
    Chelyabinsk Zinc Plant Reports 6% Production Increase for the 9 months of 2008
    Chelyabinsk Zinc Plant announces its production results for the nine months of 2008. January through September 2008, Chelyabinsk Zinc Plant produced 130.1 thousand tn of SHG zinc and zinc based alloys, an increase of 6% as compared to the same period of 2007 (122.7 thousand tn). 54.8% of ...
  • 2008-10-31 12:10:42
    UC RUSAL suggests setting up metal reserve
    UC RUSAL approached Russia's Deputy Prime Minister Alexei Kudrin with a proposal to create a strategic state metal reserve to give an impetus to the Russian processing industry and stabilize metal prices, RBC Daily wrote today. To shore up the aluminum market and prevent a fall in aluminum ...
  • 2008-10-31 06:27:27
    Mechel signs contract to construct rail and structural steel mill
    Mechel announces that it has signed a contract with Minmetals, one of China’s largest state-owned industrial corporations, to construct a rail and structural steel mill at its Chelyabinsk Metallurgical Plant subsidiary. The commercial agreement is the first in accordance with the ...
  • 2008-10-30 12:12:00
    Evraz slashes production and capital investment
    Evraz Group plans to decrease production and capital investment in light of the financial crisis, the metals and mining company's Senior Vice President and CFO Pavel Tatyanin told journalists today. He added that the group intended to reduce output in Russia and Ukraine by roughly 25 ...
  • 2008-10-30 10:39:15
    Severstal releases 9m 2008 operational results
    Production of crude steel in Q3 2008 was 6.0 million tonnes, 14% higher than in the previous quarter. Production of rolled products rose 6% to 4.3 million tonnes q-o-q. Total production of iron ore pellets in Q3 2008 was 5% higher than in Q2 2008, iron ore concentrate production was up ...
  • 2008-10-29 15:57:25
    NLMK continues technical upgrading despite the crisis
    A new 25 MW turbogenerator has been commissioned at NLMK’s main production site in Lipetsk.  The turbogenerator will enhance  power generation, improve the efficiency of the existing high pressure steam generation facilities, ensure reliable power supply to the shops and ...
  • 2008-10-29 12:44:28
    The number of those wishing to sell Norilsk Nickel ‘s shares was bigger than required
    MMC Norilsk Nickel announces the results of the tender of applications by shareholders in connection with the buy-back by the Company of its outstanding shares pursuant to a resolution of the Board of Directors of Norilsk Nickel dated August 22, 2008. For record, Norilsk Nickel announced ...
  • 2008-10-29 09:46:08
    OMZ’s Izhorskiye Zavody Produces In-Vessel Components for Rostov Nuclear Power Unit
    OMZ (Uralmash-Izhora Group) announced that Izhorskiye Zavody complete of in-vessel components produced for the second power unit of the Rostov Nuclear Power Plant (NPP). The components include a pit, a reflection shield and protective pipes. The equipment has successfully passed the ...
  • 2008-10-29 04:10:24
    Mechel structures assets
    Mechel  announces the establishment of its East-European Steel Division on the bases of its Romanian steel subsidiary, Mechel Targoviste. Following the acquisition of Ductil Steel in the spring of 2008, Mechel Group owned four steel companies in Romania: Mechel Targoviste, Mechel ...
  • 2008-10-28 14:47:23
    Housing Construction Stagnating
    The amount of new housing created in Russia in the first nine months of this year was 35.19 mln cu. m., according to Rosstat data. That represents 3.9-percent growth over the same period last year, when the growth rate was 31.3 percent. Builders and government officials expect zero growth ...
  • 2008-10-28 11:54:47
    UC RUSAL and An Vien group of Vietnam sign MOU to create new complex
    UC RUSAL announces that it has signed a Memorandum of Understanding (MOU) with An Vien of Vietnam to create a vertically integrated bauxite and alumina complex. The project will include the construction of an alumina refinery with a capacity of approximately 1.5 mln tn of alumina per annum ...
  • 2008-10-28 11:38:43
    TMK enters chinese oil and gas pipe market
    TMK  announces today that it began shipments of line pipe to the China National Petroleum Corporation ( CNPC). Under the terms of the agreement with CNPC, over 5,000 tonnes of line pipe were shipped in September 2008. Shipments consisted of 406mm OD line pipe with wall thickness ...
  • 2008-10-28 10:59:49
    Severstal Resources announces results of take over bid
    Through its mining division Severstal Resources, OAO Severstal announced that the offer (the “Offer”) by 7027940 Canada Limited (the “Offeror”), an affiliate of Severstal, to purchase the outstanding common shares of PBS Coals Limited (formerly, Penfold Capital ...
  • 2008-10-27 10:27:32
    Mechel acquires new equipment
    Mechel announced that its Yakutugol coal mining subsidiary has entered into a contract to acquire mining equipment for developing the Phase 1 pit to begin development of the Elga coal deposit. The machinery manufactured by Komatsu was provided by Mining Solutions, which specializes in ...
  • 2008-10-24 14:52:43
    New Casing Finishing Line Commissioned at Volzhsky Pipe Plant
    TMK announces today that a new 200,000 tpa finishing line for casing pipes was successfully commissioned at its Volzhsky Pipe Plant.   The installation of the new finishing line is part of TMK’s Strategic Investment Programme, running up to 2012. Volzhsky Pipe ...
  • 2008-10-23 09:55:14
    MMK completes redemption of $300 million Eurobond
    Magnitogorsk Iron and Steel Works announced the redemption of its $300 mln Eurobond which matured on October 21, 2008. The Eurobond was redeemed through MMK Finance S.A. The Eurobond was issued in October 2003 in the amount of $300 mln with a coupon rate of 8% and maturity on ...
  • 2008-10-22 10:01:17
    Almetyevsk Pipe Plant expands its product range
    Almetyevsk Pipe Plant is able to produce pipes in a new size of 133 mm designed for the thermal power sector. This was achieved under the investment project aimed at expanding the APP pipe product range. It is planned that wall thicknesses of these pipes will be in the range of 4.0 mm to ...
  • 2008-10-22 09:51:59
    ChTPZ Proceeds with Equipment Installation in The Building Electric Welding Pipe Mill in November
    Chelyabinsk Tube-Rolling Plant has started the delivery of production machinery for the new big diameter pipe mill, construction of which began in 2008. Among the first to be delivered were large-size parts for pipe-forming line produced by German company SMS-MEER – the main equipment ...
  • 2008-10-21 16:55:10
    Russian Ferrous and Non-Ferrous Metals Market Conference to Open Metal Week in Moscow
    On November 10, Russian Ferrous and Non-Ferrous Metals Market conference will open Metal Week in Moscow with Metal-Expo’2008 the 14th International Industrial Exhibition as its key event. This specialized forum will gather heads and specialists of companies producing ferrous ...
  • 2008-10-21 12:31:19
    UC RUSAL launches production of super thin foil at ARMENAL foil mill
    UC RUSAL announces the launch of production of super thin 9 microns aluminium foil at the ARMENAL foil mill (Armenia). The company invested $6 mln super thin foil production technology in 2007-2008 to meet the high demand from global markets. The share of super thin foil in the total ...
  • 2008-10-21 12:18:42
    MMK announces operational trading update and 9 months results
    Key Operational Highlights · Crude steel production rose by 3.8% to 10.309m tn in comparison to 9 months 2007; · Commercial steel products output rose by 3% to 9.369m tn in comparison to 9 months 2007; · MMK hot-rolled coil price grew by 53% ...
  • 2008-10-20 10:57:41
    Norilsk Nickel Australia is placing its Cawse laterite nickel operation on indefinite care and maintenance
    The mining and metallurgical facility, which is located about 55 kilometres from Kalgoorlie in Western Australia, has been operating under increasing cost pressures for some time. Cawse uses high-pressure acid leaching (HPAL) to process the laterite nickel and uses sulphuric acid as its ...
  • 2008-10-20 10:33:20
    Raiffeisen provides EUR 460 mln financing to Basic Element
    A consortium led by Raiffeisen Zentralbank Oesterreich AG (RZB) provided a EUR 460 mln facility to Rasperia Trading Limited, affiliated with Basic Element. The purpose of the facility is to refinance the existing Rasperia's margin loan secured by shares in publicly listed Strabag SE. Basic ...