Metallurgy news

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  • 2007-06-22 13:29:14
    Izhorsky pipe plant has won the tender to supply pipes for the second part of Novatek`s Yurkharovskoe field
    Izhorsky pipe plant, a subsidiary of Severstal, has won Novatek’s tender to supply large-diameter pipes for the construction of the second part of Novatek`s Yurkharovskoe oil-gas condensate field. The planned volume of supply is  about 60 000 tons, or 70 kilometers, of ...
  • 2007-06-22 12:07:41
    VSMPO-Avisma could go public in 2008-2009
    Russian VSMPO-Avisma could launch an IPO in late 2008, chairman of VSMPO-Avisma’s BoD and Head of Rosoboronexport (the company’s largest shareholder) Sergei Chemizov made this statement yesterday. It is noteworthy that VSMPO-Avisma has already ...
  • 2007-06-22 11:06:04
    Basic Element announced a 40% increase in revenue to $18.475 billion in 2006
    In 2006 Basic Element divided its businesses into five sectors.  The largest sector, which is energy  (En+), includes UC RUSAL, Eurosibenergo, United Oil Group and Salamon Enterprise. En+ revenues increased 47% to $10.869 billion.  Sales in the manufacturing sector, which ...
  • 2007-06-21 12:42:48
    AvtoVAZ, VSMPO-Avisma and Itera to Develop a Joint Energy Venture
    VSMPO-Avisma and AvtoVAZ, controlled by Rosoboronexport, will create jointly with the oil and gas company Itera a joint venture to provide themselves with electricity. This announcement was made by Head of Rosoboronexport Sergey Chemezov. He reminded that Rosoboronexport has some energy ...
  • 2007-06-21 12:40:11
    ChTPZ Group Signs Agreement with SMS MEER
    Chelyabinsk Pipe Rolling Plant announced today an agreement with SMS MEER company (Germany) for €160 million in technological equipment for a pipe electric welding workshop specializing in the production of large diameter pipe. Preparation work for construction of the workshop was begun ...
  • 2007-06-20 11:09:51
    Q107 consolidated revenue could reach $1 bln
    Pipe Metallurgical Company  intends to report around $1 bln consolidated revenue for Q107, according to the company’s CEO Konstantin Semerikov, who also expects that gross profit will total $330 mln. According to analytic’s estimates, TMK’s ...
  • 2007-06-19 15:46:21
    UC RUSAL and AREVA create joint venture
    United Company RUSAL has signed an agreement with French energy giant AREVA, to form a 50-50 joint venture in Russia that will produce electrical equipment for aluminum smelters. Established in Russia’s Yekaterinburg on the base of the Russian Power Engineering Company, over the ...
  • 2007-06-19 12:41:26
    Magnitogorsk Iron and Steel Works announces consolidated financial statements for the 1st Quarter of 2007
    OJSC Magnitogorsk Iron and Steel Works announces consolidated financial statements for the 1st Quarter of 2007, reported in accordance with generally accepted accounting rinciples in US ( US GAAP). The OJSC MMK Group's gross revenue in the Q1 of 2007 has grown 51.7% against the Q1 of 2006 ...
  • 2007-06-18 13:10:40
    Belon Invests over 550 Million Rubles in Development of its Railways
    In 2007, Belon Group will invest over 550 million rubles in development of its railways, which amounts to over 10% of the total planned investments. The company will allocate this money to construction of railway facilities of the Kostromovskaya ...
  • 2007-06-18 11:09:03
    Norilsk Nickel Offer for LionOre Receives Norwegian Approval
    OJSC MMC Norilsk Nickel announced that Norilsk Nickel's proposed acquisition of control of LionOre Mining International Ltd. ("LionOre"), which was notified in Norway on May 21, 2007, has been approved under the Norwegian Competition Act of 5 March 2004 (the "Act"). The ...
  • 2007-06-14 14:59:40
    UC RUSAL mandates banks to arrange USD 2 bln facility
    UC RUSAL has mandated ABN AMRO, Barclays Capital, BNP Paribas, Calyon, Citi, ING, Natixis and Societe Generale Corporate and Investment Banking to arrange and underwrite a USD 2 bln syndicated pre-export finance facility. The funds will be used to refinance a number of unsecured ...
  • 2007-06-14 12:13:57
    Mechel’s Board recommends dividend amount
    Mechel’s Board of Directors recommended to the annual general shareholders’ meeting an annual dividend of 19.7 rubles (approximately $2.27 per ADR1) for the 2006 fiscal year. The total dividend would amount to RUR 8,200,533,676.5 (approximately $316 million). The dividend ...
  • 2007-06-13 15:23:05
    Severstal to build a second part of polymer coating line
    Severstal today announces the construction of the second part of polymer coating line at its Cherepovets steel plant. Due to be finished in two years, the new line will be capable of manufacturing up to 200 thousand tons of polymer coated products annually for the construction industry. ...
  • 2007-06-13 12:24:03
    Norilsk Nickel and Roszheldor signed agreement on construction of railroad in Сhita
    MMC Norilsk Nickel and Federal Railroad Transport Agency (Roszheldor) entered into the investment agreement on construction of Naryn-Lugokan railroad in Chita region. The parties signed the agreement at the 11th International Economic Forum in Saint Petersburg. The new 375 kilometers long ...
  • 2007-06-09 12:05:30
    MMK announces early termination of the repurchase transaction entered into by Mintha and Deutsche Bank
    In accordance with the terms and conditions of the repurchase transaction Mintha sent a notice to Deutsche Bank regarding such termination, and repurchased 783,000,000 OJSC MMK shares. The shares were transferred to Mintha's account on June 8, 2007. Thus, Mintha currently owns ...
  • 2007-06-08 14:21:59
    Severstal will build a new pipe works in Sheksna
    Severstal today announces an investment of $109 million to build a new pipe works in the Sheksna industrial area. Due to start operations in the second quarter of 2009, the new plant will be capable of manufacturing up to 250 thousand tons of fabricated sections a year. The output from the ...
  • 2007-06-08 14:05:04
    TMK plans to invest $1.4 bln in up grade
    TMK remains committed to its investment program which calls for $1.4 bn by 2010, the company’s CEO Constantine Semerikov said. Implementation of this long-term rollout strategy will enable TMK to double pipe output from current 3 mln ...
  • 2007-06-08 11:54:16
    50 billion ruble for Gazmetall
    VTB has begun spending $8 billion it raised in its IPO in May. Russia ’s second-largest bank VTB has decided to give a 7-year 50 billion ruble loan to Gazmetall, a company of the bank’s old client Alisher Usmanov. Gazmetall is going to invest funds to modernize its ...
  • 2007-06-08 11:22:57
    Chelyabinsk Zinc Plant Reaches Agreement With Alumasc Group plc
    Chelyabinsk Zinc Plant and the Alumasc Group plc (LSE: ALU) reached agreement for CZP to acquire the Brock Metal business (Norton Canes, Cannock, Staffordshire), the leading UK supplier of zinc and aluminum die-casting alloys. The transaction is worth £0.35 million plus an amount ...
  • 2007-06-07 15:57:59
    UC RUSAL appoints new General Director of Zaporozhye Aluminium Smelter
    United Company RUSAL has appointed Alexander Kotyuk as General Director of Zaporozhye Aluminium and Alumina Complex. Prior to this, Alexander Kotyuk held the position of Commercial Director at the complex. In his new role Alexander Kotyuk will run the Zaporozhye Aluminium and Alumina ...
  • 2007-06-07 10:32:40
    Norilsk Nickel Offer for LionOre Receives Approval from the Swiss Competition Commission
    OJSC MMC Norilsk Nickel  announced that it has received notice that Norilsk Nickel's proposed acquisition of control of LionOre Mining International Ltd. has been approved by the Swiss Competition Commission under the applicable Swiss merger control laws. The Competition Commission, as ...
  • 2007-06-06 15:15:39
    Severstal To Invest $1.5 bln
    Severstal released its FY06 financial statement, which set out the company’s 2007 investment program, among other things. The steelmaker’s investments will total $1.5 bln this year. Severstal expects a 4%-5% y-o-y increase in the production of metal ...
  • 2007-06-06 13:28:57
    Bruno Bolfo in the Board of Directors
    OJSC Novolipetsk Steel  announces the results of voting at the Annual General Meeting held on June 5, 2007. NLMK’s shareholders approved the final dividend for 2006 of RUR 3.0 per ordinary share. Including the interim dividend of RUR 1.5 per ordinary share. Payment of ...
  • 2007-06-06 12:39:03
    NorNickel cheers investors with hefty dividend payouts of $6.80 per share
    NorNickel’s BoD recommended that the company’s shareholders approve at the June 28 AGM dividends of $6.80 (Rb 176) per share which is nearly twice as much as FY05 payouts. The cut-off date was May 15. It’s noteworthy that the company already disbursed hefty 9M06 dividends of ...
  • 2007-06-05 13:38:56
    Kamkabel and Electrocable: the urge to merge
    Kamkabel and Electrocable, two major players, have decided to pool their assets and form a holding. . As a result, this transaction will create Russia’s largest cable production holding in terms of copper used (over 100,000 tn a year). ...
  • 2007-06-05 11:17:41
    Net profit To Grow 250%
    OMZ (Uralmash-Izhora Group) has announced its audited consolidated financial results for 2006 in accordance with Russian Accounting Standards (RAS). According to the company’s financial results OMZ profit more than doubled in comparison with 2005. In 2006 the company’s ...
  • 2007-06-04 19:13:53
    Severstal Resurs and Corus have signed a three-year agreement for the supply of iron ore pellets
    Severstal Resurs will supply blast furnace pellets to Corus from its production unit, Karelsky Okatysh, located in Karelia Republic of Russia. The contract covers the sale of 3 million tons of iron ore pellets over a three-year period. Severstal and Corus have been working ...
  • 2007-06-04 15:56:14
    Norilsk Nickel Offer for LionOre Receives Australian Foreign Investment Review Board Approval
    OJSC MMC Norilsk Nickel today announced that it has received notice that Norilsk Nickel’s proposed acquisition of control of LionOre Mining International Ltd. has been approved by the Australian Federal Treasurer under the Foreign Acquisitions and Takeovers Act 1975 . The Federal ...
  • 2007-06-04 13:58:28
    RusAl is eyeing a stake in Norilsk Nickel
    This development immediately propped up the latter’s stock valuations. In our opinion, Rusal’s interest is most likely attributable to its aspiration to establish one of the largest mining companies worldwide. This news caused NorNickel to spike on Friday (up 7.2% as of 5:46 pm ...
  • 2007-06-04 12:27:55
    Evraz made an offer to acquire the entire share capital of Highveld
    Evraz Group S.A. today announced an offer to acquire the entire issued share capital of Highveld Steel and Vanadium Corporation, other than those shares already held by Evraz, for a consideration of US$11.40 per Highveld share. At present Evraz owns approximately 54.1% of all outstanding ...
  • 2007-06-04 11:34:00
    Mechel announces commissioning of a new equipment complex at Beloretsk metallurgical plant
    JSC Mechel today announced that a modern equipment complex has been commissioned at its subsidiary, Beloretsk Metallurgical Plant to produce high-tensile stabilized reinforcing wire, which meets the world standards of quality. The project was implemented in line with Mechel’s ...
  • 2007-06-04 00:17:51
    Investment Program
    The Gazprom Management Committee has approved the updated key figures of the Gazprom Investment Program and draft Budget (Financial Plan) for 2007. Said draft documents are pending endorsement by the Board of Directors. Pursuant to the draft Investment Program, the total ...
  • 2007-06-04 00:01:03
    In Nigeria a group of militants attacked a residential community of UC RUSAL's employees
    Yesterday, in Nigeria, in the southern part of Ikot Abasi town a group of militants attacked a residential community of UC RUSAL's employees. 6 people have been kidnapped. The driver, who worked for ALSCON, was shot dead. The United Company is undertaking all possible measures to ...
  • 2007-05-31 08:40:58
    Norilsk Nickel Offer for LionOre Receives Approval from the Finnish Competition Authority
    OJSC MMC Norilsk Nickel today announced that it has received a decision from the Finnish Competition Authority that Norilsk Nickel’s proposed acquisition of control of LionOre Mining International Ltd. which was notified in Finland on 16 May, 2007, has been approved under the Finnish ...
  • 2007-05-31 08:20:42
    Mechel announces opening the expansion of its Mechel Service in Izhevsk
    JSC Mechel Service is a trading company engaged in domestic sales of Mechel’s metal products whose subdivisions operate in 16 major constituent entities of the Russian Federation. The official opening ceremony was attended by Mechel Chief Executive Officer Igor Zyuzin, JSC Mechel ...
  • 2007-05-30 12:33:40
    OMK Starts Construction of Mill 5000
    Vyksa Steel Works (VSW, Nizhni Novgorod Region), part of United Metallurgical Company (OMK), has held a solemn ceremony dedicated to the launch of construction of Mill 5000. The attendees included Russian First Deputy Prime Minister Sergey Ivanov, Presidential Plenipotentiary Envoy to the ...
  • 2007-05-29 12:31:39
    Russian Zinc Consumption and Production to Grow
    In the next five years, zinc consumption in Russia may nearly double up to 400,000 tons, stimulating domestic zinc mining and refining, Chelyabinsk Zinc Plant (CZP) Commercial Director Berislav Galovich said. Addressing conference participants, Mr. Galovich described the current zinc ...
  • 2007-05-25 12:49:03
    The Novosibirsk Tin Plant will pay Rb 3.00 per common share
    The BoD of Novosibirsk Tin Plant, Russia’s one and only tin producer, has advised shareholders to authorize FY06 dividends of $0.116 (Rb 3.00) per common share when they gather for the company’s AGM, scheduled for June 22. Assuming the shareholders ...
  • 2007-05-25 12:06:22
    Evraz to acquire 50% interest in Yuzhkuzbassugol
    Evraz Group S.A. (LSE: EVR) announces that it has reached an agreement to acquire outstanding 50% interest in Yuzhkuzbassugol from existing shareholders, representing the management of the coal company. The deal is subject to regulatory permissions and Evraz Board of Directors approval. ...
  • 2007-05-24 17:33:35
    Severstal buys a further 9% of Lucchini for Eur 85.2 million
    JSC Severstal (RTS: CHMF; LSE: SVST) today announces the purchase of a further 9 % stake in Lucchini SpA for €85,200,000. Lucchini produces high-quality steels and long products in Italy and France and has a European distribution network. Its markets include automotive and railways. ...
  • 2007-05-24 11:40:29
    Evraz Group declares 2006 final dividend
    Evraz Group S.A. (LSE: EVR) announces that the Company’s Board of Directors has recommended that the annual general meeting of shareholders to be held on June 20, 2007, approve a final dividend of US$3.30 per common share, or US$1.10 per GDR, in respect of the year ended December 31, ...
  • 2007-05-23 19:35:45
    Skoda JS Secures ASME Code Re-Certification
    Skoda JS, a part of OMZ (Uralmash-Izhora Group) announced that it has passed a re-certification audit ensuring conformity with the American Society of Mechanical Engineers (ASME) Code for Skoda’s facilities for the production of equipment for nuclear power plants. The company ...
  • 2007-05-23 11:05:07
    Norilsk Nickel Increases its Offer for LionOre to Cdn$27.50 per Share
    OJSC MMC Norilsk Nickel announced today that it will increase its offer to purchase all of the outstanding common shares of LionOre Mining International Ltd. (“LionOre”) (Toronto Stock Exchange and Australian Securities Exchange symbol: “LIM”; London Stock Exchange ...
  • 2007-05-22 16:55:16
    The Board of Directors recommended to pay annual dividends in the amount of 4 roubles 30 kopecks per one share
    The Board of Directors recommended the General Meeting of TMK Shareholders to take decision on payment of annual dividends, based on 2006 Company results, in the amount of 4 roubles 30 kopecks per one share. Also, The Board of Directors made a decision to approve the agenda of the General ...
  • 2007-05-22 15:55:32
    Mechel announces winning the auction to acquire shares of Kuzbass Power Sales Company
    JSC Mechel announces winning the auction to acquire shares of Kuzbass Power Sales Company comprising 49% of the company's charter capital. Together with 1.2% of the shares owned by Mechel previously, its stake in Kuzbass Power Sales Company has increased to 50.2%. The acquisition of ...
  • 2007-05-22 14:13:01
    United Company has allocated USD 1.4 bln for 2007-2013
    UC RUSAL, the announces today a new initiative entitled Paving The Way To A Safer World, which is comprised of measures to reduce harmful impact on the environment and minimise climate change risks. This initiative is part of UC RUSAL’s wider strategy to secure its dynamic ...
  • 2007-05-21 13:40:50
    Basic Element Increases Its Share in Hochtief
    Basic Element increased its share in Hochtief AG (Essen, Germany) to 9.99%, reports press-center of Basic Element. Early this May, Basic Element affiliate Rasperia Trading Limited became a shareholder in Hochtief, by purchasing 3 percent of the company’s publicly traded ...
  • 2007-05-21 12:28:22
    UC RUSAL begins construction of Eurasia’s largest bauxite and alumina complex
    United Company RUSAL, the world’s largest producer of aluminium and alumina, today announced completion of a state Feasibility Study appraisal for the construction of Komi Aluminium Bauxite and Alumina Complex in the Komi Republic. Investments into the project will exceed US $1.5 ...
  • 2007-05-21 11:13:57
    Chelyabinsk Pipe Rolling Plant and EBRD Sign EUR 205 Million Loan Agreement
    The loan is divided into two tranches – € 145 million and $ 80 million. Part of each loan is being syndicated to commercial banks. The tenor will be nine years for the portion of the EBRD’s loan and seven years for the remaining portion and the syndicated loan. 7-year tenor of ...
  • 2007-05-18 13:51:13
    JSC Surgutneftegas and JSC TMK Enter Strategic Partnership Agreement
    JSC Surgutneftegas and JSC TMK entered into a long-term strategic partnership agreement. The agreement was signed in Moscow by Surgutneftegas CEO, Vladimir Bogdanov and TMK CEO Konstantin Semerikov. This long-term strategic partnership agreement is valid for three ...