2008-06-17 14:32:37 TMK Acquires Kazakhstan Threading and Finishing Facility TMK acquired 100% share capital in Uralsk, Kazakhstan-based OOO ‘’Kaztrubprom’’.
Kaztrubprom specialises in the threading and finishing of tubing and casing pipes used in the oil and gas industry. At present, the company’s production capacity is 60 thousand tn ...
2008-06-17 13:54:55 PSI Awarded Additional Important Contract in Chinese Steel Sector The Chinese PSI subsidiary, PSI Information Technology (Shanghai) Co, Ltd. has been awarded by the steel producer Shougang Jingtang Steel Company with the delivery of a comprehensive Manufacturing Execution System (MES) for the steel mill, the hot rolling mill and the cold rolling mill at its ...
2008-06-17 11:43:45 Evraz Unveils Name Change at Its North American Operations Effective immediately, the new name impacts the North American headquarters in Portland Oregon and all eight production facilities, including; the steel production facilities in Pueblo Colorado, Regina Saskatchewan and Claymont Delaware; the seamless pipe, rod and rail mills in Colorado, the ...
2008-06-16 11:25:26 Chelyabinsk Zinc Plant Announces 2007 IFRS Consolidated Results The media reported the preliminary estimates for Chelyabinsk Zinc Plant’s FY07 financials. According to management’s guidance, revenue is to rise 10% y-o-y to $608.9 mln and EBITDA will drop 16% to $147.7 mln. Net income should reach $75.1 mln in the reporting period. Meanwhile, ...
2008-06-16 10:39:08 TMK Completes Transaction to Acquire IPSCO U.S. Assets TMK announced that it completed the acquisition of the US companies and assets of IPSCO Tubular’s business from SSAB Svenkst Stal AB under a back-to-back transaction with Evraz S.A. (Evraz).
TMK acquired 100% of share capital in IPSCO Tubulars Inc. and 51% of share capital in NS ...
2008-06-11 11:58:25 UC RUSAL successfully tests new colloidal anode paste UC RUSAL announces that it has successfully launched test production of the key component of a unique environmentally sound aluminium production technology - colloidal anode paste. The total investment in this project will amount to $ 25 mln.
The main goal of this project, developed by ...
2008-06-10 12:21:34 VSMPO-AVISMA on the XII St. Petersburg International Economical Forum Within the framework of 12th St. Petersburg International Economical Forum the delegation of VSMPO-AVISMA Corporation took part in the plenary sittings, conference work and panel discussions, held also a number of meetings and negotiations with the Sverdlovsk Region Governor, Rossel, with Heads ...
2008-06-10 11:39:22 FAS could slap export duties on coking coal prices The Federal Antimonopoly Service (FAS) has proposed the Russian government to impose export duties on coking coal and scrap metal with a view to stabilizing metal product prices, Interfax wired quoting fas Head of Industry Control Division Alexei Ulyanov as saying.
The antimonopoly watchdog ...
2008-06-10 11:06:53 Foundry and Rolling Facility Launches Hot Tests of In-Line Equipment Hot tests of in-line equipment have been launched at the Foundry and Rolling Facility (FRF), whose construction is underway in the Vyksa District, Nizhni Novgorod Region.
A few days ago, the FRF Electric Furnace Shop (EFS) started its first test metal-smelting operations using an arc-furnace ...
2008-06-09 11:48:53 ChTPZ Group Has Acquired Control over Yuganskneftegazgeofizika LLC and Tomskneftegazgeofizika LLC ChTPZ Group has got control over key players on geophysical services market in Khanty-Mansiysk Autonomous Okrug and Tomsk Oblast: Yuganskneftegazgeofizika LLC and Tomskneftegazgeofizika LLC.
Acquisition of the geophysical companies has been carried out within the framework of ChTPZ Group ...
2008-06-07 15:55:03 MMK Is Building Up Its Presence in Turkey Before the end of 2008 the Russian-Turkish MMK-Atakas JV plans to start up a steel service centre.
Jointly with the Turkish company Atakas, OJSC MMK is carrying out a steel mill construction project in Turkey. The new mill will be located on two sites, with the core ...
2008-06-07 11:20:09 OMZ Reports RAS Financial Results for 2007 The company’s revenues reached more than RUR21 bln (about $890 mln), 22% more in comparison with 2006. OMZ’s net profit doubled to over RUR1 bln.
OMZ Group’s operating activities in various business segments have stable positive dynamics.
The metallurgical ...
2008-06-06 13:44:47 Norilsk Nickel announces project updates in Botswana 4 June 2008: OJSC MMC Norilsk Nickel has begun commissioning the 12 mln tn per annum Dense Media Separation (“DMS”) plant at Tati Nickel and following a review of project economics, in agreement with the Government of the Republic of Botswana (“GRB”), has ...
2008-06-05 12:39:44 Novobachatsky Now Launched The Novobachatsky open-pit mine has been officially commissioned. The site will allow for the industrial development of two subsoil plots—Novobachatsky and Novobachatsky-3.
The total reserves of both plots amount ...
2008-06-04 10:16:38 TMK Raises Syndicated Facility TMK announces the signing of a syndicated bridge facility agreement of up to USD 1.2 bln to finance the acquisition of the US tubular companies and assets of IPSCO.
The facility agreement was signed on 30 May 2008.
Mandated Lead Arrangers:
• ABN AMRO Bank N.V.
• The Bank ...
2008-06-02 12:26:02 NLMK anti-dumping duty lifted Novolipetsk announced that, as of May 23 2008, the EU resolution on the annulment of the 2005 11.5% anti-dumping duty on transformer steel became effective. The obligation to control minimum prices for products delivered to EU customs territory was also ...
2008-06-02 12:10:48 OMZ to Place Series 6 Bond Issue on June 6 Bonds with RUR1.6 bln total nominal value are to be placed for five years (1,820 days). Par value is RUR 1,000.
Placement is to be held by public subscription on the MICEX exchange. The initial coupon rate will be determined at the auction. Gazprombank OJSC is arranger and underwriter of the ...
2008-05-29 10:58:25 The Board of Directors of MMC Norilsk Nickel recommends the Dividend Rate The Board of Directors of MMC Norilsk Nickel at its meeting on May 28, 2008 adopted a resolution to recommend to the Annual General Meeting (AGM) of shareholders to approve the amount of dividends payable upon the Company’s financial results for 2007 at the rate of RUB 220 ($ 9.34 ) per ...
2008-05-29 10:39:21 TMK and Turkmenneft State Concern Sign Cooperation Agreement Within the framework of the development of long-term cooperation, TMK announces that it has signed a cooperation agreement with Turkmenneft State Concern. The Chairman of the Board of Directors of TMK, Dmitriy Pumpyanskiy, and the Chairman of Turkmenneft State Concern, Gariyakdy Tashliev, ...
2008-05-28 17:56:42 Bratsk Ferroalloy Plant Has Won The Tender Mechel announced that its Bratsk Ferroalloy Plant subsidiary has won the tender to acquire the rights to utilize the subsoil plot on the Uvatsk deposit of quartzite and quartz sandstones.
The tender was announced by the Irkutsk Region Subsoil Use Agency (Irkutsknedra). According to ...
2008-05-27 11:17:12 OMK Publishes Annual Report for 2007 United Metallurgical Company has published its Annual Report. The year 2007 saw a breakthrough in OMK’s development: the Company produced 1,845,086 tn of various types of pipes, exceeding the 2006 figure by more than 10%. The Company manufactured 944,733 large-diameter pipes. In 2007, the ...
2008-05-26 12:44:52 UC RUSAL to expand cast-house production at Irkutsk Aluminium Smelter UC RUSAL announced the investment of around $50 mln into the expansion of cast-house production at Irkutsk Aluminium Smelter. The expansion is required due to the previous introduction of two new potrooms, which increased production capacity of the smelter by 170,000 tn of aluminium per annum. ...
2008-05-26 12:32:48 NLMK makes mandatory offer to minority shareholders of its Russian subsidiaries Novolipetsk Steel announced that it has initiated a mandatory offer to purchase the outstanding share capital of its subsidiaries - Stagdok, Dolomite and Altai-koks.
The offer is made in accordance with Russian legislation and will enable NLMK to more efficiently manage these subsidiaries. ...
2008-05-23 15:36:06 International Aluminum Forum will be In Moscow In less than a month, on May 29 The International Conference "Aluminum Rolled Products and Profiles Market in Russia" will begin. A lot of steel conferences has been held in Moscow recently, however, they were dedicated to either development of ferrous metals markets or ...
2008-05-23 12:06:50 TMK Announces Board of Directors Decisions The JSC “TMK” Board of Directors has recommended that shareholders approve a 2007 dividend of RUB 1.03 per share (approximately $0.17 per GDR). The total amount of dividend to be approved at the Annual General Meeting of Shareholders (AGM) is RUB 899,191,030 (approximately $ 37.7 ...
2008-05-22 16:30:13 Mechel announces another phase of technological modernization at BMP The new stranding machine commissioned at Beloretsk Metallurgical Plantwas manufactured by Mario Frigerio, Italy and has an annual capacity of over 4,000 ropes. It will enable BMP to start producing high quality ropes of 11.5 mm - 16.0 mm in diameter and increase its current output of 16.0 mm - ...
2008-05-22 12:34:45 Belon posts 48% decrease in FY07 IFRS net income Belon has reported strong headline financial indicators for 2007. Revenue rose 29%, net income decreased 48% and EBITDA doubled. In our opinion, the company remains an appealing investment option and we retain our Buy recommendation
Belon Group saw a 48% decline in IFRS net income to Rb 659 ...
2008-05-21 16:15:20 NLMK improves its slab quality Novolipetsk Steel has commissioned a scarfing machine which procures the preparation of over 300,000 tn of slabs for rolling per year. This machine will contribute to ensuring a guaranteed high quality surface for NLMK’s flat products.
This facility, manufactured in Germany, is ...
2008-05-21 12:00:47 Severstal Proposes To Acquire Esmark Inc Severstal made a bid to acquire Esmark Inc at $17 per share, the Russian company said in a statement.
Severstal is best positioned to optimize the value of Esmark by creating complementary product lines, geographical alignment and operational synergies. Further, Severstal has developed a ...
2008-05-21 11:06:08 MMK Reports Its Production Results for April and 4 Months of 2008 Overall, in the four months of 2008 MMK turned out 492,400 tn of ready-to-use iron ore, (87.9% against the same period of last year), 3,618,7 tn of sinter (107.5%), 1,941,000 tn of coke (110.4%), 3,433,800 tn of pig iron (110.1%), 4,753,300 tn of crude steel (110.8%), 4,599,600 tn of rolled ...
2008-05-20 11:43:42 Russian Ministry of foreign affairs and MMC Norilsk Nickel sign cooperation agreement Today the ministry of Foreign Affairs of the Russian Federation and OJSC MMC Norilsk Nickel (MMC Norilsk Nickel of the Company) entered into a Cooperation Agreement.
The document was signed by Minister of Foreign Affairs of the Russian Federation Sergey Lavrov and by General Director of MMC ...
2008-05-20 10:11:44 OMZ Completes Transaction to Acquire CHETENG Engineering OMZ OJSC (Uralmash-Izhora Group) announced the completion of a transaction to acquire 100% of CHETENG Engineering s.r.o., a Czech company.
CHETENG Engineering and OMZ Oil and Gas Projects (Izhorskiye Zavody) intend to expand their joint operations in the market for petrochemical equipment ...
2008-05-19 10:45:53 Severstal Acquires WCI Steel Severstal announced that it has reached a binding agreement to purchase WCI Steel, a market leader in the production of value-added steel products based in Warren, Ohio.
According to the terms of the agreement, Severstal will acquire all outstanding equity of WCI for a total cash ...
2008-05-16 15:31:32 MMC Norilsk Nickel applied to bid for the Udokan deposit MMC Norilsk Nickel applied for participation in the bid for the Udokan copper field in Zabaikalsky Territory.
In accordance with initial bidding terms, Norilsk Nickel filed its formal application before the deadline fixed on May 14. The Company received a set of necessary geological data and ...
2008-05-16 14:29:08 Results of the Annual General Meeting Evraz Group S.A. announces that all resolutions proposed to the shareholders at the Annual General Meeting held on Thursday, 15 May 2008, were duly passed including, inter alia, the following:
1. Approval of the reports of the auditors and of the Board of ...
2008-05-15 17:38:34 CIS billet exports up $25 per tonne for June production CIS billet export bookings are up $25 per tn and offers have increased further for June production.
Some CIS mills are still limiting their billet export allocation due to strong domestic demand, which has forced buyers to explore other markets such as Turkey even though prices continue ...
2008-05-15 12:25:50 UC RUSAL to invest over $700 mln in construction of the Taishet Aluminium Smelter in 2008 UC RUSAL announces its plans to complete the main construction phase and purchase production equipment for the Taishet Aluminium Smelter in 2008. Total investment will exceed $ 700 mln this year. The smelter’s first metal is scheduled to be produced at the end of 2009.
60% of the ...
2008-05-15 12:10:51 OMK Reports Its Operating Results for April 2008 Chusovoy Metallurgical Works’s output of finished rolled products was 38.6 thousand tn in the reporting period. Its output of rolled products reached 159.5 thousand tn from the beginning of 2008, or 16,8 thousand tn more than in the equivalent period in 2007.
Steel production was ...
2008-05-14 15:53:46 NLMK increases shareholdings in Stoilensky GOK to 100% NLMK completed the buyout of ordinary shares in OJSC Stoilensky GOK on 8 May, 2008. As previously announced on 14 March, 2008, in accordance with Russian legislation, NLMK posted a mandatory offer to purchase ordinary shares to Stoilensky GOK’s minority ...
2008-05-14 11:57:02 Severstal completes Aquisition of Sparrows Point Severstal on May 8 completed its previously announced acquisition of Sparrows Point, a fully-integrated steel mill based in Baltimore, Maryland, United States, from ArcelorMittal. Severstal has received regulatory approval from the United States Department of Justice and the Committee on ...
2008-05-13 14:31:59 UC RUSAL appoints a new member to its Board of Directors UC RUSAL announces the appointment of Dmitry Razumov, CEO of the ONEXIM group, to its Board of Directors.
This appointment follows the acquisition of 25% plus one share stake in Norilsk Nickel from the ONEXIM Group.
Biography:
Dmitry Razumov has been the CEO of the ONEXIM ...
2008-05-13 12:20:07 OMZ Special Steels Modernizes Press Forging Facilities Reconstruction of OMZ Special Steels' 6,000-ton automated press forging complex was begun April 7 and is scheduled for completion in late May. In the course of the project, the pump and hydraulics system are being replaced, build-up welding and mechanical processing of worn out parts are being ...
2008-05-12 17:09:34 MMC Norilsk Nickel announces preliminary consolidated production results for 1st quarter 2008 MMC “Norilsk Nickel” (“Norilsk Nickel”, “the Company”) announces preliminary consolidated production results for the first quarter of 2008 at its Polar and Kola Divisions in Russia and international operations in Finland, Australia, Botswana and South Africa. ...
2008-05-12 17:03:43 Mechel Announces Acquisition of New Coal Processing Equipment at its Yakutugol Subsidiary Mechel announces that its Yakutugol coal mining subsidiary has acquired new equipment for its Neryungri Coal Processing Plant in line with its capital expenditure program.
The acquisition of the U.S.-manufactured Artrita coal mill will be used for crushing and coal dust preparation in the ...
2008-05-05 12:17:10 Severstal-metiz and TAS have agreed the sale Severstal-metiz and the group TAS have agreed the sale of the group TAS 34.6 % share of JSC Dneprometiz to Severstal-metiz
Severstal-metiz has bought a further 35% of the TAS banking and insurance group, bringing its ownership of the company up to some 95%. ...