Metallurgy news

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  • 2007-07-03 12:50:51
    Evraz commences disposal of Highveld selected assets
    Evraz Group S.A. announces that Evraz has formally commenced the process of disposing of some of the selected assets of Highveld Steel and Vanadium Corporation Limited ("Highveld") in accordance with Evraz's commitments to the European Commission and the South African ...
  • 2007-07-03 11:47:08
    Mechel announces results of its annual general shareholders’ meeting
    JSC Mechel announces the results of its Annual General Shareholders’ Meeting. The Annual General Shareholders’ Meeting adopted the following resolutions: • To approve a dividend of RUR 19.70 per one ordinary registered book-entry share (about USD 2.27 per one ADR 1) based ...
  • 2007-07-02 17:12:44
    NLMK upgraded reversing mill for producing grain-oriented steel
    NLMK has upgraded its reversing cold rolling mill for production of electrical grain-oriented steel to raise its capacity from 67 to 130 thousand tonnes per year, increase production of steel with advanced magnetic properties, replacing two obsolete production lines.. This project has ...
  • 2007-07-02 16:18:23
    Strong first quarter results
    Financial Results for the three months ended 31 March, 2007 ($ million unless otherwise stated)   Q1 2006 Q1 2007 ...
  • 2007-07-02 13:36:51
    Chelyabinsk Zinc Plant Completed Acquisition of Brock Metal
    Chelyabinsk Zinc Plant on the 29th of June, 2007, completed the acquisition of Brock Metal business (Norton Canes, Cannock, Staffordshire), the leading UK supplier of zinc and aluminum die-casting alloys, from the Alumasc Group plc. The transaction is worth £0.35 million plus an ...
  • 2007-07-02 10:58:27
    NLMK-Duferco JV completes the acquisition of a 100% interest in Winner Steel
    NLMK-Duferco JV has completed the acquisition of 100% in Winner Steel INC. for approximately USD 211.6 million.  Winner Steel is one of the largest independent galvanized steel producers in the United States. Its operations are located on a single site in Pennsylvania and ...
  • 2007-06-29 13:59:12
    Norilsk Nickel Acquires Approximately 90% of LionOre’s Shares
    OJSC MMC Norilsk Nickel  today announced that 201,089,154 common shares of LionOre Mining International Ltd, representing approximately 90% of the LionOre common shares outstanding, were deposited to Norilsk Nickel's offer to acquire all of the outstanding common shares of LionOre for ...
  • 2007-06-29 13:46:19
    OMZ announced results of Annual General Meeting
    OMZ (Uralmash-Izhora Group) held its Annual General Meeting  in Moscow on 28 June, 2007. More than 89% of shareholders participated in the meeting. All resolutions put to shareholders’ vote were duly passed. Shareholders approved the Company’s 2006 annual report ...
  • 2007-06-29 11:54:57
    Basic Element Announces Establishment of the Aviation Sector
    Development of transport infrastructure is one of Basic Element’s key priorities.  At the beginning of 2007 Basic Element announced creation of the Infrastructure Sector which focuses on building bridges, roads and other objects of infrastructure.  In order to bring best ...
  • 2007-06-29 11:02:15
    VSMPO-Avisma boosts dividends 34%
    Shareholders of VSMPO-Avisma Corporation have authorized a dividend payout for FY06 equaling $1.95 (Rub 50.83) per share, which is a 34% increase on FY05. The total dividend payout amounts to around $22.5 mln, or 10%, of FY06 RAS net income, which totaled $225 mln. ...
  • 2007-06-28 17:20:26
    Belon Increases Coal Production
    During the first 5 months of 2007, Belon Group increased its total coal production by 31% (462,000 tons) compared to the similar period of the last year— to reach 1,950,000 tons. In January–May this year, 1,022,000 tons ...
  • 2007-06-28 16:03:53
    TMK in merger talks with Interpipe
    According to media reports yesterday, Pipe Metallurgical Company (TMK) is discussing a possible merger with Interpipe. Yesterday the market was once again agog with reports of a possible merger between Pipe Metallurgical Company and Ukrainian pipe holding Interpipe. Citing ...
  • 2007-06-27 17:58:34
    TMK approved a 2006 dividend of 4.3 RUR per share
    The Annual General Meeting of Shareholders of OAO “TMK” was held in Moscow on June 27, 2007. Shareholders elected the Board of Directors and the Auditing Committee, as well as approved the annual report and financial statements, for the 2006 financial year. OOO ...
  • 2007-06-27 15:52:11
    All Required Regulatory Approvals Obtained for Norilsk Nickel Offer for LionOre
    OJSC MMC Norilsk Nickel announced that with the receipt of Investment Canada approval in respect of its all-cash offer for all of the issued and outstanding shares of LionOre Mining International Ltd all regulatory approvals required in connection with Norilsk Nickel’s offer have now ...
  • 2007-06-26 14:36:10
    Norilsk Nickel Offer for LionOre Receives South African Approval
    OJSC MMC Norilsk Nickel announced that it received notice from South Africa’s Competition Commission that its proposed acquisition of control of LionOre Mining International Ltd has been approved under the South African Competition Act No. 89 of 1998 (as amended). The Competition ...
  • 2007-06-25 15:51:31
    Evraz Board appoints CEO
    Evraz Group S.A. announces that subsequent to the resolutions of the Annual General Meeting of  20 June 2007, Evraz's Board of Directors has resolved the following:   • To delegate the daily management of the Company's business to Alexander     Frolov and ...
  • 2007-06-25 14:42:20
    UC RUSAL launches construction of Taishet Aluminium Smelter in Irkutsk region
    United Company RUSAL announces the start of construction of the Taishet aluminium smelter in the Irkutsk region. The smelter’s annual capacity will total 750,000 tonnes of aluminium. The projected volume of investments into construction of the facility is approximately USD 2 bln. ...
  • 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 ...