2008-04-29 11:55:23 Fitch Affirms MMK at ‘BB’; Outlook Stable Fitch Ratings-London/Moscow-25 April 2008: Fitch Ratings has today affirmed Magnitogorsk Iron and Steel Works’ (MMK) Long-term Issuer Default (IDR) and senior unsecured ratings at ‘BB’. The Outlook for the Long-term IDR is Stable.
MMK’s ratings continue to be supported ...
2008-04-29 11:19:10 Independent auditors confirm NLMK’s compliance with international standards NLMK is pleased to announce that its Quality Management System has passed the regular audit for compliance with International Standard ISO 9001:2000 and that its Quality System for carbon hot-rolled steel flats complies with the requirements of EC Directive - 97/23/EG and German technical ...
2008-04-28 14:33:34 UC RUSAL sells Pikalyovo Alumina Refinery to BaselСement UC RUSAL announces that it has signed an agreement with ‘BaselCement’, part of the construction business of ‘Basic Element’, to sell the Pikalyovo Alumina Refinery.
UC RUSAL aims to be one of the most effective energy and metals corporations in the world. The ...
2008-04-28 12:33:54 TMK Ships First Batch of Large-Diameter Pipes for the Kenkiyak-Kumkol Pipeline TMK announces that it began shipments of 813mm X60 large- diameter pipes with 9.5 mm wall thickness, according to API 5L, for use in the construction of the Kenkiyak-Kumkol pipeline in Kazakhstan.
TMK will supply 15,000 tn of large-diameter pipes to “Kazakhstan-China ...
2008-04-25 21:58:13 The Russian’s aluminum products market is gradually developing The Russian’s aluminum products market is gradually developing and doesn’t not wish to remain in stable condition. Recently, it revealed a number of interesting trends, the process of consolidation in the first place. In particular, United Russian Aluminium Company, established as a ...
2008-04-25 11:35:38 One year since MMK IPO MMK managed to raise $1 bln through IPO to realize its investment projects. The offering allowed to obtain market valuation of MMK as well as to establish the company as a public company in the international market.
Commenting on the results of the IPO one year ago, MK Chairman Victor ...
2008-04-25 07:36:24 UC RUSAL completes acquisition of strategic stake in Norilsk Nickel from ONEXIM Group UC RUSAL announces that it has completed the acquisition of a 25% plus one share stake in Norilsk Nickel from ONEXIM Group.
Commenting on the deal, Alexander Bulygin, CEO, United Company RUSAL, said:
“We are delighted that our acquisition of 25% plus one share of Norilsk Nickel has ...
2008-04-24 14:06:43 SeverStal Completes Management Share Buyout at SeverCorr Severstal announced that it has completed the purchase of the outstanding ownership shares belonging to the founding management team of SeverCorr, the next generation steel mill located in Columbus, Miss. Following the transaction, Severstal will hold approximately 85% of SeverCorr. ...
2008-04-24 12:05:11 Highveld Agrees on Disposal of Certain Vanadium Assets Evraz Group S.A. announces that Highveld Steel and Vanadium Corporation, which is Evraz’s subsidiary, has entered into definitive agreements with Vanchem Vanadium Products (Proprietary) Limited, a special purpose company controlled by Duferco Investment Partners Inc, on the disposal by ...
2008-04-24 11:03:16 Chelyabinsk Zinc Plant Reports 5.3% Production Increase for the Q1 2008 Chelyabinsk Zinc Plant announces its production results for the first quarter of 2008.
January through March 2008, CZP produced 42,270 tn of SHG zinc and zinc based alloys, an increase of 5.3% as compared to the same period of 2007 (40,146 tn). 48.1% of the plant output was supplied to the ...
2008-04-22 12:47:55 Metalloinvest develops its transport infrastructure Metalloinvest Holding transportation subsidiary “Metalloinvesttrans” started wagon maintenance depot construction. The opening ceremony took place on the 18th of April at Mikhailovsky GOK in Zheleznogorsk (Kursk region). The project costs RUB 1.1 bln. It is to be completed by ...
2008-04-22 12:38:45 MMC Norilsk Nickel develops relations with stainless steel producers in China General Director of OJSC MMC Norilsk Denis Morozov made a working visit to the People’s Republic of China (PRC). As part of his visit Denis Morozov participated in the event dedicated to the 10th anniversary of the Chinese Stainless Steel Association and met with top-managers of ...
2008-04-21 11:54:36 NLMK Increased Net Profit The net profit of Novolipetsk Steel under US GAAP edged up 9 percent to $2.247bln in 2007 compared to a year earlier.
Revenue amounted to $7.719bln, which is 28 percent greater than in than in 2006. Meanwhile gross profit surged 26 percent to $3.742bln and operating profit increased 34 ...
2008-04-21 11:03:29 TMK Announces Production Results for the First Quarter of 2008 TMK shipped 707 thousand tn of pipes, which is 8% less than in the 1 st quarter of 2007. Despite an 8.5% decrease in demand for pipes at the Russian market in the Q1 of 2008, the Company managed to increase its Russian market share to 25.7% up from 24.8% in Q1, 2007. This growth was due to an ...
2008-04-18 10:32:32 This week MMK has been visited by delegations of SMS Demag, Germany, and WISDRI, China The highlight of the meeting was the current status of the 5,000 mm Plate Mill.
Yesterday the guests, accompanied by MMK’s Director for Construction Valentin Antoniuk, visited the site of the future mill and witnessed the activities of over a thousand construction men working there who ...
2008-04-17 12:06:48 Installation of a New Large-Diameter Pipe Mill at TMK’s Volzhsky Pipe Plant TMK announces that the installation of a new large-diameter longitudinal welded pipe mill is underway at its Volzhsky subsidiary.
The new 650,000 tn mill will produce longitudinal welded pipes of X80 grade with diameters ranging from 530mm to 1420mm and wall thickness of up to ...
2008-04-16 16:33:50 MMK Announces Operational Trading Update Q1 2008 Results under Russian Accounting Standards Key Financial Highlights
· Revenue increased by 21% to RUR 52,3 bln (RUR 43,1 bln in 1Q2007)
· Operating income on the level of RUR 11,6 bln (RUR 11,7 bln in 1Q2007)
· Net income (net of the effect of financial investments revaluation) grew by 2% to RUR 8,5 ...
2008-04-16 14:18:35 NLMK lifts steel output 1.9% in Q108 NLMK ramped up steel output 1.9% to 2.4 mln tn in Q108. It’s worth noting that hot hot-rolled sheet production increased 19.4%, while cold-rolled 4.3% and galvanized went up 23.5%. NLMK has released its operating results for Q108. Steel output rose 1.9% on the same period last year to 2.4 ...
2008-04-16 11:50:11 TMK and Societe Generale Group Sign Credit Agreement TMK announces that a credit agreement was signed between Seversky Tube Works (STW) and the Société Générale Group. The credit agreement of EUR 88.7 mln will partially finance STW’s acquisition of a Fine Quality Mill (FQM).
The agreement between TMK and ...
2008-04-16 06:00:13 Vyksa Steel Works Reports Its Operating Results for Q1 2008 Vyksa Steel Works has reported its operating results for March and the first quarter of 2008.
VSW produced 134,946 tn of pipes of various grades in March and 361,565 tn from the beginning of the year.
VSW manufactured 67,257 tn of large-diameter pipes (LDP) in March. LDP output in ...
2008-04-15 14:16:05 UC RUSAL announces its production results for the first quarter of 2008 Highlights*
Bauxite production rose by 13.1% to 4,537,288 tonnes compared to the first quarter of 2007.
Alumina production rose by 3.5% to 2,837,030 tonnes compared to the same period last year.
Aluminium production increased by more than 9.4% to 1,096,236 tonnes compared to the ...
2008-04-15 11:16:31 Evraz Closes First Stage of Acquisition of Ukrainian Assets Evraz Group S.A today announced completion of the first stage of the earlier announced acquisition of selected production assets in Ukraine.
For a cost in excess of $1,000 mln Evraz has closed the acquisition of 51.4% of shares of Palmrose Limited, a Cyprus-based holding company ...
2008-04-14 16:27:36 OMZ Develops Production Technology for New-Generation Rotors OMZ OJSC announced the development of production technology for new rotors for ultra supercritical steam turbines. Ultra supercritical steam parameters provide more than 300 atm pressure and temperatures of over 590-650ОC.
Among participants in the new production technology’s ...
2008-04-14 16:02:13 TMK Ships Premium Connections to Rosneft for Vankorskoye Field TMK announced today it has sent its first shipment of casing with TMK premium connections to OAO NK Rosneft (Rosneft). These high-performance TMK tubular products will be used in Rosneft’s Vankorskoye oil and gas field.
This shipment of TMK-FMC Premium threaded 177.8 mm ...
2008-04-14 14:35:23 Severstal announces reorganization to facilitate further growth JSC Severstal today announced that it is reorganising its businesses into three principal divisions: Severstal Russian Steel, Severstal Resourses and Severstal International.
The new structure, taking effect in April, will reduce the number of reporting lines between individual ...
2008-04-14 13:20:29 VIZ-Stal launches new product line NLMK’s subsidiary VIZ-Stal LLC (Ekaterinburg) has launched the production of 0.23 mm thick transformer steel sheets, enabling VIZ-Stal to enter a new rapidly growing market of high-power transformer components.
This new high-tech product boasts lower magnetic losses, and to make its ...
2008-04-11 10:39:01 Severstal completes the sale of two mines, and associated assets, to Arcelor Mittal Further to the announcement on 31st January 2008, OAO Severstal announces today the completion of the sale to ArcelorMittal of its 97.9% stake in the Beryozovskaya Mine and its 99.46% stake in the Pervomayskaya Mine. As part of the deal, Severstal also sold to ArcelorMittal the Severnaya Coal ...
2008-04-09 10:52:31 Preliminary results of the Extraordinary General Meeting of MMC Norilsk Nickel’s Shareholders MMC Norilsk Nickel yesterday held an Extraordinary General Meeting of the Company’s shareholders (EGM) in response to a request from shareholders representing interests of Onexim Group.
The EGM agenda comprised the following proposals:
1. Amendments to the Charter of Norilsk.
2. ...
2008-04-09 06:45:48 Mechel acquired 100% stake in Ductil Steel of Romania Mechel announces its purchase of 100% stake in Ductil Steel of Romania. The purchase is in line with further strategic development of Mechel’s steel segment, and is also aimed at maintaining Mechel’s position in the Romanian rolled and wire product markets of Romania.
On March ...
2008-04-08 10:57:20 Launch of New Products The Sibgormontazh Service Company, which is incorporated in Belon Group, has started production of new equipment. Now all the mines of the Company will be provided with anchors to be used for wall bolting.
Currently, a pilot batch ...
2008-04-07 12:07:26 2007 RAS Financial Results for NLMK Group’s major Russian companies Novolipetsk Steel (NLMK) (LSE: NLMK) today announces 2007 Russian Accounting Standards (RAS) financial results for the Group’s major Russian companies.
RAS accounting results differ materially from US GAAP accounting results and are not comparable to financial statements ...
2008-04-04 06:44:12 Mechel and Danieli have signed a partnership agreement Mechel announces that its has signed a partnership agreement with Danieli & C. Officine Meccaniche S.p.A. for the implementation of reconstruction and development projects for Mechel’s steel subsidiaries.
Danieli, an Italian-based world leader in developing technologies and ...
2008-04-03 14:02:50 CIS domestic HRC up $100-120 on short supply and strong demand CIS domestic hot rolled coil prices have surged $100-120 per tn on short supply and strong demand. CIS HRC was selling at $660-700 per tn ex-works at the beginning of March, according to traders, but new orders for April production sold at $775-815 per tn ex-works.
“Mills have a lot of ...
2008-04-03 12:21:03 Gazmetall to become Metalloinvest Holding Company CJSC “Gazmetall” shareholders took a decision at the general meeting on renaming the company into CJSC “Metalloinvest” Holding company”.
Maxim Basov will keep the post of the company’s CEO.
Shareholders also agreed to consolidate at ...
2008-04-03 10:50:25 Lucchini Group’s consolidated profits The shareholders’ meeting of Lucchini S.p.A. approved the 2007 financial statements as well as the Group’s consolidated accounts.
Lucchini Group’s consolidated accounts for financial year 2007, prepared in compliance with the national accounting standards, showed net ...
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 ...