Metallurgy news
- 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 15:24:32
VSMPO-AVISMA schedules to finish the consolidated statements audit for the year of 2007 to IFRS in the 3rd quarter of 2008
In march of 2008 VSMPO-AVISMA started the consolidation statements audit for the year of 2007 per IFRS. VSMPO-AVISMA corporation starting from 2002 has been submitting the financial accounts prepared per the general principles of the accounting in USA - US GAAP. The decision to make ... - 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%. ... - 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 16:21:17
Severstal subsidiary wins exploration and extraction rights for the Ostantsovy gold field in Irkutsk region
Severnaya Zolotorudnaya Kompaniya (Northern Gold Mining Company), a subsidiary of Severstal, has won an auction for the geological exploration and gold extraction rights at the Ostantsovy field in Irkutsk region in Russia. Severnaya Zolotorudnaya Kompaniya’s winning bid was 45 mln ... - 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 ... - 2008-04-23 14:18:27
Mechel Reports Its Operational Results for the First Quarter of 2008
Mechel announced today its operational results for the first quarter ended March 31, 2008. Product ... - 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 ... - 2008-04-17 11:19:35
UC RUSAL signs an agreement to sell a 50% coal mining share in the Ekibastuzskoye coal field to Samruk Holding
UC RUSAL announces that, within the framework of its joint venture in Kazakhstan, it has signed an agreement to sell a 50% share in coal mining at the Ekibastuzskoye coal field to Samruk Holding managing state assets. The coal field is located at the Bogatyr and Severny coal mines in the ... - 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 ...
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