Magnitogorsk Iron and Steel Works (MMK) and Turkish metallurgic company Coskunoz have launched a 1-billion ruble MMK-Coskunoz-Alabuga car parts facility in Russia’s republic of Tatarstan. The plant is located in the Alabuga special economic zone. It will produce steel car parts for Ford Sollers and other domestic car makers. The projected capacity is 150,000 tons…
Sredneuralsky Copper-Smelting Works has started the scheduled repair of the Vanyukov furnace No. 1. The company intends to invest some 238 million rubles in the repair. The furnace commissioning is scheduled for June 8. The Vanyukov furnace No. 1 was put into operation in 1994, and No. 2 in 2009. (Ukrainian metal)
In January-April Magadan region mined 261.8 thousand tons of coal, up almost 2-fold YoY. The increase has to do with the scheduled growth of output at the Kolyma Coal Company, which became the leader in coalmining. Two more companies are operating in the region – Association of business cooperation LLC and North-Eastern Coal Company LLC.…
Petropavlovsk shareholders demand the board of directors replaced and one of its founders Pavel Maslovsky, as well as independent directors Sir Roderick Line and Robert Jenkins returned. The claim was voiced by CABS Platform Limited and Slevin Ltd., which together own 9.11% in Petropavlovsk. The issue will be on the agenda of the annual meeting…
Zagorsky Pipe Works has received the right to use the API logo on its products. The company has successfully completed all the attestation procedures and has become the fifth large diameter pipe producer in Russia to be able to export pipes for foreign projects, which require API 5L certificate. The company began preparing for the…
Evraz NTMK has started selling railroad wheels to Slovakia. This year the company will supply some 1 thousand wheels to ZOS Trnava. ZOS Trnava is Evraz’s new client. The company is one of the top-5 wagon-repairing enterprises in Europe, namely BB TS Werk Knittelfeld (Austria), Kolowag (Bulgaria), FWN (Germany) and SZ-Vit (Slovenia), with whom Evraz…
The High Court of London has started four-day hearings of a dispute between Russian aluminum giant UC RUSAL of businessman Oleg Deripaska and Interros of tycoon Vladimir Potanin over a sale of shares in metals giant Norilsk Nickel. Both businessmen arrived to the court to testify. A long-standing shareholder conflict, which was resolved in 2012…
In January-March Rusal revenue totaled $2.744 million, up by 19.5% YoY. The revenue grew following the increase of aluminum prices at the LME by 16.7%, to $2.159 thousand per ton from $1.85 thousand per ton. As the result the adjusted EBITDA increased by 20.4%, to $572 million from $475 million. Aluminum output in January-March dropped…
