2008-04-02 10:53:19 Evraz announces preliminary results for year Evraz Group S.A today announces its preliminary audited results for the year ended 31 December 2007.
2007 Highlights:Financials:
Revenue grew 54.5% to $12,808 mln from $8,292 mln in 2006 due to acquisitions, improved sales mix and growth in average prices of steel products. ...
2008-04-02 10:42:14 Norilsk Nickel boosts Q407 RAS net income 14.3% The increase in net income is attributed to the proceeds from the sale of treasury stock. Russian Accounting Standards do not require that the performances of the Kola branch and overseas–based assets be included into the company’s financials.
In Q407, Norilsk Nickel’s RAS ...
2008-04-01 15:06:31 Mechel puts a new mining machinery Mechel announces the reception of a new excavatorat its iron ore mining subsidiary, Korshunov Mining Plant
The Korshunov Mining Plant continues to receive new technological equipment in line with the technical re-equipment program for Mechel subsidiaries.
The new Komatsu electrohydraulic ...
2008-04-01 13:31:43 FY07 RAS net income drops 7.5% at ChZP Chelyabinsk Zinc Plant reported a 7.5% y-o-y decline in its RAS net income to Rb 1,978 mn in 2007. This happened because zinc contracts took a dive on LME and a weakening dollar.
Chelyabinsk Zinc Plant, which is part of ChTPZ Group, reported a 7.5% y-o-y decline in its RAS net income in ...
2008-03-30 11:14:05 Metal Supply & Sales in Duesseldorf Metal Supply & Sales together with Metal-Expo welcomes exhibitors and guests of Tube'2008 (March 31 - April 04, 2008, Duesseldorf, Germany) to visit our stand D12 in hall 7A.
Metal Supply & Sales magazine presents traditional Special Edition in English which ...
2008-03-28 14:00:34 NLMK plans hot strip finishing modernisation Novolipetsk Iron and Steel Works will modernise the finishing train at its hot strip mill, according to supplier SMS Demag.
NLMK’s modernisation plan is designed to improve the quality of finished products in thickness profile and flatness.
SMS Demag will supply hydraulic roll-gap ...
2008-03-27 15:21:54 Russian metal and steel production increased by 5.3% According to the Russian Federal State Statistics Service, the index of metallurgical production and the production of finished metal products in February 2008 reached 109,5%, in January – February 2008 – 106% as compared to the corresponding period last year.
Metal and steel ...
2008-03-27 11:33:22 Mechel to wrap up acquisition of Oriel Resources
In all likelihood, Mechel will consolidate another asset before long – the BoD of Оriel Resources has recommended that the company’s shareholders approve the Russian holding’s buyout offer worth $2.20 (around £1.10) per share.
Mechel Group has made a formal buyout ...
2008-03-26 16:44:17 MMK GDRs to be included into RDXxt index starting from March 25, 2008 Vienna Stock Exchange announced that it revised the calculation base for the RDXxt index on March 13, 2008. The index comprises most liquid Russian GDRs trading on LSE. The index committee decided to include i.a. MMK GDRs into the index. The change to become effective as of today, March 25, ...
2008-03-25 11:07:38 Resolutions of the OJSC MMK Board of Directors On March 21, 2008, a meeting of the OJSC MMK Board of Directors took place.
The Board of Directors decided to recommend to the Annual General Shareholders’ Meeting to approve the distribution of profit and losses for the 2007 Financial Year and pay dividends on ...
2008-03-24 16:56:50 NLMK Establishes Position of Information Technology Vice President NLMK announces the separation of the Company’s IT implementation function into a new line of corporate development. To this end, the position of Information Technology Vice President has been introduced.
On 2 March, 2007, Vadim Urias was appointed as NLMK’s IT Vice President. ...
2008-03-24 11:18:02 VSMPO-Avisma picks up titanium assets The company announced the takeover of Titan Mining Company holding a license to tap an ilmenite deposit with reserves totaling some 1.3 mln tn.
The Tambov regional administration closed a transaction to sell Titan Mining Company, which holds a license to develop a section of the Tsentralnoe ...
2008-03-21 11:47:06 UC RUSAL expands its cathode producing capacity in China UC RUSAL announced that the company has acquired a cathode plant in Baoguan, which is located in the administrative centre of Taiyuan, within the Shanxi Province, in the People’s Republic of China. The plant’s existing annual capacity is currently 9,300 tn of cathode blocks and the ...
2008-03-21 11:28:30 OMZ OJSC announced a decision on a Series 6 bond issue.
The announcement is based on a decision made by the Board of Directors at a meeting held 19 Dec. Bonds with RUR1.6 billion total nominal value are to be placed for five years (1,820 days).
The Series 6 issue is to be placed by public ...
2008-03-21 11:14:43 Severstal reaches agreement to acquire Sparrows Point Severstal today announced that it has reached an agreement to purchase Sparrows Point, a fully-integrated steel mill based in Baltimore, Maryland, United States.
Sparrows Point, currently owned by ArcelorMittal, is being sold by Joseph G. Krauss, Divestiture Trustee, as required by the ...
2008-03-20 16:51:13 Engels Pipe Plant increases shipments of finished goods by 19% in January and February Engels Pipe Plant increases shipments of finished goods by 19% up to 8,483 tт in January-February of 2008 on the year-on-year basis, according to the message of ESTAR press service.
According to the provided data, over 2 months the plant produced 5,894 tт of round pipes and 1,957 tт ...
2008-03-20 16:34:45 Mechel announces commissioning of new mining machinery at Yakutugol Mechel announces the commissioning of a new excavator at its Yakutugol subsidiary in line with its mining equipment modernization program.
The electrohydraulic PC-8000 excavator, with a 36.0 cubic meter bucket capacity, manufactured by KMG (Komatsu-Germany) is the third excavator of this ...
2008-03-20 16:18:03 Inprom challenges Evraz and Metinvest in Russian beam market Inprom plans to take on Evraz and Ukraine's Metinvest in a battle for market share in the CIS constructional steel market, ceo Igor Konavalov told MB.
The distribution and steel service centre company is targeting takeovers of seven or eight H-beam producers and is planning new ...
2008-03-19 15:07:00 Evraz Calls Off Yuzhkuzbassugol and Raspadskaya Merger Evraz Group S.A announced that it has decided to terminate the merger negotiations between Yuzhkuzbassugol, a fully owned coal mining subsidiary of Evraz, and Raspadskaya, Russia's second-largest coking coal producer, originally announced in June 2007.Evraz believes that the proposed merger is ...
2008-03-18 13:37:16 NLMK makes mandatory offer to minority shareholders of Stoilensky GOK Novolipetsk Steel today announced that it has commenced a mandatory offer to purchase the outstanding share capital of Stoilensky GOK (SGOK). The offer is made in accordance with Russian legislation and will enable NLMK to more efficiently manage this subsidiary.
The terms and conditions of ...
2008-03-18 10:05:11 MMK announces the results of statements for the 12 months 2007 according to US GAAP · The revenue of MMK Group of Companies in the 12 months of 2007 increased by 27.6% compared to the 12 months of 2006 and amounted to USD 8 197 mln.
· The operating income reached USD 2,079 mln or 25.4% of the revenue. The growth compared to the 12 months ...
2008-03-17 10:44:47 MMC Norilsk Nickel won the auction to develop the Iisko-Tagulskaya area Vostochno-Sayanskaya nickel company, representing the interests of MMC Norilsk Nickel, won on Thursday an auction for the right of geological prospecting, exploration and mining of nickel, copper and metals of platinum group in the Iisko-Tagulskaya area of Irkutsk ...
2008-03-17 09:04:40 MMK increases stake in Belon Coal Company Magnitogorsk Iron and Steel Company ("MMK") announces creation of a strategic alliance with the Belon OJSC.
Creation of the alliance is the result of MMK acquiring 50% stake in company Onarbay Enterprises Ltd, owning 82.6% of the Russian coal-producing company “Belon”. ...
2008-03-14 14:04:46 Evraz to acquire IPSCO's Canadian plate and pipe business from SSAB for a net cost of $2.3 bln Evraz Group S.A. today announced the acquisition of IPSCO’s Canadian plate and pipe business (“IPSCO Canada”) for a net cost of $2.3 bln. The final value will be subject to certain closing adjustments.With plants in Regina, Calgary and Red Deer, IPSCO Canada is a leading ...
2008-03-13 15:07:31 Severstal board of directors resolutions Severstal's Board of Directors, held on 11-12 March 2008, recommended a dividend of 4.00 rubles per share and per global depositary receipt ("GDR") for the FY 2007 with the record date of 15 May 2008. Each GDR represents one share in the Company.
Approval of the dividend ...
2008-03-13 11:49:47 ChTPZ Group Ships To Customers 14% less in January - February 2008 Chelyabinsk Tube-Rolling Plant and Pervouralsk New Pipe Plant shipped 256.8 thousand tnof pipe products to customers in the first two months of 2008, a decrease of 14% as compared to the same period of 2007 (298.1 thousand tn).
January through February 2008, Chelyabinsk Tube-Rolling ...
2008-03-12 10:33:36 Mechel confirms its share capital Mechel in accordance with the Rules of the City Code on Takeovers and Mergers (the “City Code”) confirms the Company's share capital.
This disclosure under Rule 2.10 of the City Code is made subsequent to the announcement made
by Mechel dated March 3, 2008.
Mechel hereby ...
2008-03-11 11:00:39 Rusal raises loan to buy a stake in Norilsk Nickel On Friday, UC Rusal and a syndicate of 11 international banks signed off an agreement to extend the aluminum holding a $4.5 bln loan to buy a 25% + 1 share stake in Norilsk Nickel, according to a statement issued by the loan arrangers ABN Amro, BNP Paribas, Credit Suisse and Merrill Lynch. A ...
2008-03-11 10:44:46 Pilsen Steel Appoints Martin Novak as CEO
Pilsen Steel s.r.o., a part of OMZ OJSC announced the appointment of Martin Novak as the company’s CEO. The appointment took place on 1 March 2008.
Born in March 1967, Mr. Novak graduated from the Mining and Metallurgical Institute, Ostrava, with a specialty in metallurgy. ...
2008-03-06 14:07:16 TMK Announces Preliminary Results for 2007 This trading update contains forward looking statements concerning future events. Forward looking statements are based on current information and assumptions of TMK management concerning known and unknown risks and uncertainties. Preliminary financial figures have not been audited and can ...
2008-03-05 12:52:34 Metalloinvest and Hyundai Steel signed Memorandum of understanding Metalloinvest Management Company CEO Maxim Gubiev and Hyundai Steel (steel division of Hyundai Group) CEO Mr. Seung-Ha Park signed Memorandum of understanding.
Memorandum stipulates strengthening and extending future cooperation between two companies and switching from customer-supplier ...
2008-03-05 06:44:57 TMK Launches Oilfield Services Division TMK launches TMK Oilfield Services. This new independently managed TMK division is comprised of JSC “Orsky Machine Building Plant”, the “Truboplast” pipe coating company, ZAO “TMK Pipe Maintenance Department” and “TMK Central Pipe ...
2008-03-04 12:21:54 Belon Group: Results and Goals Belon Group has held a press conference to discuss the Company's performance results for 2007 and its goals for 2008. The Company was represented by Konstantin Lagutin, the First Deputy Director General, and Yevgeny Gaisler, the Deputy Director General for Perspective ...
2008-03-04 06:49:54 Mechel has interest in acquiring Oriel Resources Plc Mechel is currently contemplating the acquisition of Oriel. This process is at an early stage and there can be no certainty that any offer will ultimately be forthcoming.
Oriel Resources Plc is a London-based chrome and nickel mining and processing company, which listed on the Alternative ...
2008-03-03 13:45:46 Auditors confirm the quality of NLMK’s steel products for shipbuilding NLMK has successfully passed a re-certification audit conducted by the certification agency Bureau Veritas (France) for compliance with its rules governing shipbuilding slabs .
In the course of the audit, Bureau Veritas inspected the production processes of NLMK’s BOF shops and its ...
2008-03-03 13:32:27 Mechel Announces Agreement On a Long-Term Partnership With Russian Railways Mechel announced that it has signed an agreement on a long–term, mutually beneficial partnership with Russian Railways (RZhD OAO). Mechel will provide RZhD with rolled products for transportation purposes, which will be manufactured at Mechel’s subsidiaries.
Under the ...
2008-03-01 12:00:08 Metal Supply & Sales To Go in Dusseldorf "Metal Supply and Sales " magazine finishes preparation of the traditional Special Edition in English which every year introduces the developing Russian steel industry to international manufacturers and tradesr of steel products. The special issue is full of reviews about the tube ...
2008-02-29 17:42:25 Vladimir Potanin Became a Sole Owner of the Interros Company A company, representing interests of Vladimir Potanin, bought out 100% of the Interros Holding Company from ZAO KM Invest. Thus, Vladimir Potanin became the sole owner of the Interros Company.
2008-02-29 12:18:44 ChTPZ Group To invest Rub 8 bln On February 27, 2008, the Kirov Oblast Government and ChTPZ Group entered into an agreement under which the Group would set up a timber industry holding in the Kirov Region.
According to the declared intents, by 2010, ChTPZ Group would have built in Vostochny Settlement, Omutninsk District a ...
2008-02-28 15:55:36 Severstal to Install a New Production Facility at CherMK Severstal Severstal today announced plans to invest $500 mln in new facilities at its Cherepovets steel mill. By 2011, Severstal will have installed a new steel making facility, including an arc furnace, a ladle furnace, a continuous-casting machine and a rolling mill producing 1m heavy beams per year. ...
2008-02-28 09:53:06 UC RUSAL launches ALSCON aluminium smelter in Nigeria In February 2007 UC RUSAL acquired a majority stake in ALSCON and immediately began a large scale modernization programme of the smelter, which has been out of operation for eight years. The modernization programme includes completing the construction of the smelter, as well as upgrading the ...
2008-02-27 10:21:52 Belon Starts Development of Prisalairskaya Polosa The Novobachatsky open-pit mine, which is incorporated in Belon Group, obtained a license to explore and evaluate hard-coal reserves at the Prisalairskaya Polosa site, Kemerovo region.
The license for the site development was required to increase the coal ...
2008-02-26 11:20:44 Mechel announces start to construction of railroad to the Elga deposit Mechel announces that it has signed a contract and is starting construction of a railway spur track to the Elga coal deposit (Yakutia).
The contract for designing and constructing the railway spur track to connect Ulak railroad station of the Baikal-Amur Mainline with the Elga coal deposit ...
2008-02-22 14:48:34 Severstal to invest $140 mln in Vorkutaugol coal mining business in 2008 OAO Severstal is planning to make significant investments in coal mining businesses in Vorkutaugol, Northern Russia. Allocations for the development of the Vorkutaugol mines will constitute RUR3.5 bn ($140mln) in 2008 – 4% higher than 2007’s total investment.
The largest ...
2008-02-18 11:17:40 MMC Norilsk Nickel to complete split of its depositary receipts On February 4, 2008 the Board of Directors of MMC Norilsk Nickel (“Company”) instructed the Company management to execute a split of the Company’s depositary receipts. The Company plans to complete this split on February 19, 2008. This spilt is expected to improve the ...
2008-02-18 11:12:20 NLMK comments on the Federal Antimonopoly Service (FAS) statement OJSC Novolipetsk Steel notes the information in mass media regarding the Federal Antimonopoly Service (FAS) refusal to grant NLMK permission to acquire Maxi-Group and announces the following:
FAS rejection of NLMK’s request to acquire Maxi-Group was caused by technical mistakes and ...