In 2017 Krasniy Octyabr Iron and Steel Works was busy modernizing its thermal and treatment machinery. At the same time the company started manufacturing new types of products. In particular, last year Krasniy Octyabr started producing cold-rolled sheet with the thickness of 0.8-3.5 mm and hot-rolled sheet of corrosion-resistant steel and heat-resistant chrome-nickel alloys. For…
St Petersburg hosted a meeting of the Gazprom chairman Alexei Miller and ChTPZ chairman Andrei Komarov. The parties discussed issues of pipe deliveries. Issues of price formation for 2018 under new market conditions have also been reviewed. In 2017 ChTPZ supplied over 560 thousand tons of pipes for the construction of Nord Stream-2 and Sila…
The steel wire shop No. 1 of Severstal-Metiz has put into operation 9 drawing mills, while the modernization program saw reconstruction of 36 mills as well as 2 hot-dip galvanizing mills. “Step by step realization of the large-scale investment program allows us to increase capacity. We not only increase our presence on the market, but…
Metinvest B. V. has increased its share in the Severniy Mining and Processing Works from 96.3961% to 96.4187%. According to the company statement, as of December 31, 2017 there were changes in the owners of more than 10% of shares. Metinvest purchased shares on the secondary market. As of late 2016 Metinvest owned 96.3961% of…
In November 2017 Metinvest B. V. revenue dropped by 6.7% MoM, or by $62 million, to $866 million. EBITDA was $196 million, down by 12.5% MoM. Corrected EBITDA for the metal division as of late November 2017 was $130 million ($148 million in October 2017), including $5 million from participation in joint ventures ($12 million).…
In 2017 Interpipe increased sales of railroad wheels and tyres to Ukrzaliznytsia more than 2.2-fold. “Last year Ukrzaliznytsia once again became our key client. Despite the replacement of its chairman Ukrzaliznytsia still follows the direction to modernize the rolling stock”, Interpipe CFO Denis Morozov said. He noted that it became easier for the company to…
International rating agency Moody’s has upgraded the long-term credit rating of NLMK Group, an international steel company with operations in Russia, the United States, and the European Union, from Ba1 to investment grade Вaa3, with a positive outlook. The decision follows a rating action to raise Russia’s sovereign ceiling, which took place on January 25.…
IPSCO Tubulars, a subsidiary of Russian oil and gas pipe maker TMK, plans to offer about 23.3 million shares at $20-23 per paper during an initial public offering (IPO), the company said in a statement on January 29. IPSCO Tubulars will sell 7.4 million shares, and TMK will sell 15.8 million shares it owns…