2008-09-05 11:38:16 NLMK: another acquisition in North America for $400 mln Novolipetsk Steel yesterday signed a definitive agreement to acquire Beta Steel, a U.S. hot-rolled steel producer, from a group of private shareholders for an all cash consideration of $400 mln, on a debt free, cash free basis. The transaction is subject to customary regulatory approvals and is ...
2008-09-05 11:14:16 UC RUSAL introduces new waste processing technology UC RUSAL announced that it has developed a unique process for waste recycling. This new technology is applied at the company’s smelting operations in Bratsk (BrAZ) and allows saving over $2 mln every year. The new technology helps to reduce quantities of solid waste from the ...
2008-09-03 11:40:58 Mechel eyes German metal trader Mechel is eyeing a German metal trader. Experts believe that this could be attributable to the company’s plans to ramp up output of stainless steel rolled products at Chelyabinsk Metallurgical Plant and launch these products on the European market.
Mechel Group has applied to ...
2008-09-03 11:34:50 TMK Ships Premium Connections to Surgutneftegas TMK announces that its TMK-Premium Service division began supplying TMK-PF ET premium threaded casing connections to Surgutneftegas.
The first shipment of TMK-PF ET to Surgutneftegas consisted of 120 tonnes of premium threaded 168 mm casing with 8.94 mm wall thickness. In addition to the PF ...
2008-09-02 12:21:21 NLMK passes shipbuilding slab production audit Novolipetsk Steel has successfully passed a re-certification audit of its shipbuilding slab production carried out by the American Bureau of Shipping (ABS).
The audit comprised the inspection of NLMK’s shipbuilding steel production process, technical control departments, and current ...
2008-09-01 17:03:10 PSI Continues Successful Internationalisation in the Steel Industry PSI has been charged by ThyssenKrupp Stainless USA with the delivery and implementation of the production management system PSImetals for the stainless steel plant being built in Alabama, USA. The new plant will consist of, amongst other things, an electro-steel mill and cold rolling mill ...
2008-08-29 13:35:16 Evraz Announces 2008 Interim Results Evraz Announces 2008 Interim Results
Evraz Group S.A. today announces its unaudited interim results for the six months ended June 30, 2008.
1H 2008 Highlights:
Financials:
Revenue grew 78.2% to $10,726 mln due to strong pricing, acquisitions and improved ...
2008-08-29 12:27:52 New Belon Coal Mine Guarantees Raw Materials Supply of MMK Russian coal producer Belon, in which MMK holds a 41,3 percent stake, set in operation the Kostromovskaya mine in Kemerovsk Region. Cutting edge technology and automated process guarantee production of 2 million tones of coking coal of deficient grade per year.
As the Kostromovskaya mine ...
2008-08-28 10:13:32 NLMK H1 2008 US GAAP Results Ferrous metal makers remain under pressure from rising costs. NLMK reported a significant boost in its financial indicators. However, the company posted softer EBIT and EBITDA margins. H108 H107 Growth % Antanta Pioglobal ...
2008-08-28 10:08:56 ChTPZ projects lower 2008 output ChTPZ Group released its financial results for 2007 and also operating targets for 2008. Based on the data, consolidated net income generated by the group’s pipe division surged 21.7% to $254 mln in 2007, revenue spiked 32.6% to $3,126 mln and operating profit climbed 24.4% to $397 mln. ...
2008-08-27 10:17:41 Mechel announces its progress in the constraction of the Elga deposit access road Mechel announces that its subsidiary, Yakutugol Joint Stock Holding Company, continues active construction work on the Elga coal deposit access road.
In February 2008, Mechel started construction of the railway spur-track to the Elga deposit. An opening ceremony for this work was held on ...
2008-08-25 11:49:22 Norilsk Nickel buys back its shares The company has announced a share buyback at $254 per share, which is 27% higher than the market price at the last session’s close.
“Norilsk Nickel intends to buy-back its own shares in order to support the Company’s securities, which went down in price significantly in the ...
2008-08-22 15:19:07 Severstal Resources Reaches Agreement to Acquire PBS Coals Through its mining division Severstal Resources, Severstal today announced that it intends to acquire the business of PBS Coals Corporation ("PBS”) by way of an acquisition of Penfold Capital Acquisition Corporation (TSX VENTURE: PNA.P) ("Penfold") following a ...
2008-08-22 12:28:36 VSMPO-Avisma reduces titanium product supplies A slowdown in demand for air transportation in developed countries has translated into lower supplies of titanium products to the largest aircraft manufacturers – Boeing and Airbus. According to a statement issued by the company, the civil aircraft industry remains under pressure. The ...
2008-08-22 07:48:13 TMK-Kaztrubprom Shipments TMK announces that its TMK-Kaztrubprom subsidiary began shipments of oil country tubular goods (OCTG).
TMK-Kaztrubprom shipped 240 tonnes of tubing with couplings.
Kaztrubprom joined TMK in June 2008 and specialises in the threading and finishing of tubing and casing pipes used in the oil ...
2008-08-21 16:01:49 Optimal Plate Mill Scheduling and Plate Nesting with SteelPlanner at ArcelorMittal Asturias As part of a major expansion project on the heavy plate mill of Avilés, ArcelorMittal Asturias selected the AIS solution to improve scheduling and plate nesting.
BetaPlanner, the well proven AIS module for rolling mill scheduling optimization, will be implemented to increase ...
2008-08-20 13:18:42 Evraz Group and Raspadskaya to share Mechel’s fate Another “metallurgical case” seems to be drawing to a close. Head of the Russian Antimonopoly Service (FAS) Igor Artemiev reported yesterday that similar fines are to be imposed against Evraz Group and Raspadskaya as in the case of Mechel, which we view as a good news for both ...
2008-08-20 12:26:46 FAS to fine Mechel $30 mln In all likelihood, the Mechel affair is history, which means that metal makers and investors alike can breathe a sigh of relief. FAS will fine the metal major $33 mln and order the company to lower its coal concentrate prices by 15% starting September 1, 2008.
Yesterday, the Federal ...
2008-08-20 10:54:33 MMK announces Interim Results for the Six Months ended 30 June 2008 Magnitogorsk Iron and Steel Works today announced its consolidated financial results according to US GAAP for the six months ending 30 June 2008.
Financial Highlights
* Revenue up by 41% to US$5653 million, driven by pricing and incremental ...
2008-08-19 10:38:28 Mechel Announces Launch of an Upgraded Medium-Section Mill at Mechel Targoviste Mechel announces the launch of a medium-section mill at its Mechel Targoviste facility (Targoviste, Romania) following the execution of fundamental renovations.
Implementation of this project was performed within the scope of an extensive program for modernization of production at ...
2008-08-18 22:55:05 Metalloinvest and Chelyabinsk Pipe Rolling Plant signed a long-term agreement on supply Metalloinvest and Chelyabinsk Pipe Rolling Plant signed a long-term agreement on supplies of strip and tube billets. According to the agreement Ural Steel (a subsidiary of Metalloinvest holding) will deliver over 60 thousand tn of steel products monthly to Chelyabinsk Pipe Rolling Plant since ...
2008-08-18 14:03:29 PSI Expands Offerings and Market Position in the Metals Industry Integration of the aluminium and copper specialist 4Production
The PSI AG has acquired 100 percent of the shares of 4Production AG, headquartered in Wurselen near Aachen. 4Production is a specialized provider of metals supply chain consulting and, with its production management solutions, ...
2008-08-18 10:14:08 UC RUSAL files lawsuit against LUKOIL UC RUSAL has filed a lawsuit with the arbitration court against LUKOIL, the primary supplier of oil coke to UC RUSAL’s facilities, for disruptions in its supply of raw materials.
Since April 2008, LUKOIL has reduced the supply of oil coke to UC RUSAL’s largest aluminium smelters ...
2008-08-18 09:55:39 Evraz secures $725 mln of bank financing Evraz Group S.A. announces the closing of a $550 mln five-year revolving credit facility and a $175 mln five-year term loan facility for its North American division, Evraz Inc. NA.
The facilities bear the floating interest rate of LIBOR plus 2.5% and LIBOR plus 3.25% respectively and are ...
2008-08-13 11:39:21 Belon Group: Performance Results for 6 Month Period
According to the performance results for the first six months of 2008, Belon Group achieved a significant increase in coal preparation and sales compared to the similar period of the last year.
In the reported period, the volume of metallurgical ...
2008-08-13 11:34:47 Novolipetsk Steel to Acquire John Maneely Company from The Carlyle Group for $3.53 bln Novolipetsk Steel has signed a definitive agreement to acquire U.S. steel pipe and tube manufacturer John Maneely Company (JMC) from a shareholder group including global private equity firm The Carlyle Group and the Zekelman family for $3.53 bln, acquiring the company on a debt free, cash free ...
2008-08-12 12:01:47 VSMPO-AVISMA Corporation Board of Directors reviewed the corporate management development programs The scale of business carried out by Corporation, new big contracts and highly competitive titanium market make the company introduce the further advanced approaches to be applied to administration.
August 05 the Board of Directors made a decision on the change in the administration as ...
2008-08-12 10:36:55 Severstal Resources takes control of Balazhal Gold Mine in Kazakhstan Severstal Resources, the mining division of Severstal, has taken control of Balazhal, a gold mine in East Kazakhstan, 260 km south of Semipalatinsk. The purchase of 100% of the asset was made through one of Severstal’s subsidiaries.
The recoverable reserves in Balazhal are estimated at ...
2008-08-11 11:48:51 Taganrog Metallurgical Works hot-tested new PQF piercing mill At Taganrog Metallurgical Works (TAGMET), a part of TMK, the first hollow-billet piercing was carried out with the use of the piercing mill of a new pipe-rolling system, part of a Premium Quality Finishing (PQF) continuous mill made by SMS Meer. Annual capacity of the new system will amount to ...
2008-08-11 05:28:32 UC RUSAL and RusHydro have invested over $1.8 bln in the BEMO project UC RUSAL,and RusHydro have announced the two-year results of their joint BEMO project, which includes the completion of the Boguchansky hydropower plant and the construction of a greenfield aluminium smelter in the Krasnoyarsk region. Since the beginning of the project, both companies have ...
2008-08-07 14:52:28 OMZ Reports Strong Revenue and Profit Growth for 1H 2008 OMZ OJSC announced its financial results for the first half of 2008 in accordance with Russian Accounting Standards (RAS). The company announced strong growth in its key financial indicators for the first half of 2008 against the comparable period of 2007.
The company’s net ...
2008-08-05 14:55:45 MMC Norilsk Nickel announces preliminary consolidated production results for 2nd quarter 2008 MMC “Norilsk Nickel” announces preliminary consolidated production results for the second quarter of 2008 at its Polar and Kola Divisions in Russia and international operations in Finland, Australia, Botswana and South Africa.
• Overall saleable nickel production in the ...
2008-08-05 11:57:54 Severstal completes acquisition of Esmark Incorporated Severstal today announced that it has completed its acquisition of Esmark Incorporated, a manufacturer and distributor of flat rolled and other steel products. The acquisition was completed pursuant to the merger of Severstal Wheeling Acquisition Corp., a wholly-owned subsidiary of ...
2008-08-04 11:02:12 Evraz Secures JV with MCC for development of the Cape Lambert Iron Ore Project Evraz Group S.A. signinged of a Co-operation Agreement with China Metallurgical Group Corporation (“MCC”) for the joint development of the Cape Lambert Iron Ore Project (“the Project”) located in the Northern coastal Pilbara region of Western Australia.
The Project ...
2008-07-21 11:46:39 Chelyabinsk Zinc Plant Reports 5.5% Production Increase for the H1 2008 Chelyabinsk Zinc Plant announces its production results for the first half of 2008.
January through June 2008, Chelyabinsk Zinc Plant (CZP) produced 84,816 tn of SHG zinc and zinc based alloys, an increase of 5.5% as compared to the same period of 2007 (80,385 tn). 51.9% of salable metal was ...
2008-07-17 12:42:48 PSI Awarded Additional Important Contract by the ArcelorMittal Group
PSProduction management solution for the Canadian steel producer Dofasco
PSI has been charged by the Canadian Dofasco Inc. with the delivery of a complete Manufacturing Execution System (MES) for all production areas from hot rolling to finishing at the site in Hamilton, Ontario. Dofasco ...
2008-07-17 09:54:23 UC RUSAL announces H1 2008 results Highlights - Bauxite mining reached 9,044,615 tonnes, up 6.5% compared to the first half of 2007 - Alumina production rose by 1.4%, amounting to 5,659,921 tonnes - Aluminium production increased by 7.8% to 2,196,262 tonnes - Output of high value-added casthouse products increased by ...
2008-07-16 09:43:10 MMK Announces Operational Trading Update and H1 2008 Results under Russian Accounting Standards Key Financial Highlights - Sales increased by 31% to RUR 121,730 billion (compared to RUR 93,220 billion in H1 2007) - Operating income rose by 18% to RUR 32,003 billion (RUR 27,023 billion for H1 2007) - Net income¹ grew by 18% to RUR 25,249 billion (opposed to RUR 21,353 billion H1 ...
2008-07-15 17:30:52 Metalloinvest declines comment on Kazakhmys talks Russian mining giant Metalloinvest has failed to confirm or deny reports it is in discussion to buy a controlling stake of Kazakhstan’s largest copper producer, Kazakhmys.
While Kazakhmys has confirmed its is in preliminary discussions with a third party over a possible ...
2008-07-15 14:23:10 CIS CR exporters raise offers but face weak demand Demand for CIS cold rolled coil exports has slackened as producers begin to make offers for August production, market sources told MB.
Russia’s Magnitogorsk Iron and Steel Works is offering CRC at $1,280 per tonne cfr, Turkey, August production and Severstal is offering ...
2008-07-11 11:31:32 OMZ Special Steels Receives Det Norske Veritas Certificatation OMZ-SpecStal (St.-Petersburg), a part of OMZ (Uralmash-Izhora Group) has received an Approval Certificate from Det Norske Veritas (DNV), a Norwegian classification organization, for the production of carbon, carbon-manganiferous and low-alloyed steel forgings. The certification for forgings ...
2008-07-10 14:33:48 Severstal completes acquisition of WCI Steel Severstal on July 8 completed its previously announced acquisition of WCI Steel, a market leader in the production of value-added steel products based in Warren, Ohio. WCI Steel will be known as Severstal Warren, Inc.
Severstal acquired all of the outstanding equity of WCI for a total cash ...
2008-07-10 12:38:51 ChTPZ Group Ferrous Division - Reduce By 10% Chelyabinsk Tube-Rolling Plant and Pervouralsk New Pipe Plant shipped 867.8 thousand tn of pipe products to customers in the first six months of 2008, a decrease of 10% as compared to the same period of 2007 (969.5 thousand tn).
January through June 2008, Chelyabinsk Tube-Rolling Plant ...
2008-07-09 12:28:21 Mechel announces preliminary 2008 IQ financial results Consolidated net revenue in the first quarter of 2008 is expected to exceed $2.3 bln, an increase of more than 60% when compared with consolidated net revenue of $1.4 bln in the first quarter of 2007. Consolidated net income in the first quarter of 2008 is expected to be about $500 mln, an ...
2008-07-07 13:33:56 NLMK signs contract to build new power plant Within the framework of NLMK’s Phase 2 Technical Upgrading Programme, the company has signed a contract to build a new 150 MW Power Plant at its main production site in Lipetsk.
Commissioning additional power facilities will allow NLMK to increase its Lipetsk production site electrical ...
2008-07-04 14:52:27 Annual General Meeting of Shareholders Assessed PSC VSMPO-AVISMA Corporation Performance for 2007 The Annual General Meeting of PSC VSMPO-AVISMA Shareholders was held in Verkhnaya Salda on June 30, 2008. PSC VSMPO-AVISMA shareholders adopted the annual report, the annual accounting including the Company income statement for 2007.
Vladislav Tetyukhin, the Company Director General, ...
2008-07-04 11:59:41 Norilsk Nickel Announces Preliminary Results of Annual General Shareholders’ Meeting On June 30, 2008 the Annual General Shareholders’ Meeting of MMC Norilsk Nickel was held in Moscow to review the Company’s results for 2007.
As Denis Morozov, General Director and Chairman of the Management Board of Norilsk Nickel, noted in his report, 2007 featured a ...
2008-07-04 11:00:57 Severstal begins preparatory work at future Severstal Russian Steel construction site Severstal begin preparatory works at a future construction site for the Balakovo Long Product Plant in Balakovo (Saratov Oblast) by creating a circular greenbelt around the site. When complete, the $ 85.3 mln environmental project will provide for waste treatment facilities and nature ...