Evraz Plans to Consolidate Two Mills (8920B)
February 25 2011 - 7:52AM
UK Regulatory
TIDMEVR
RNS Number : 8920B
Evraz Group S.A.
25 February 2011
Evraz Announces Plans to Consolidate ZSMK and NKMK
25 February 2011 - Evraz Group (LSE: EVR) ("Evraz") announces
plans to consolidate two of its Russian steel mills, OAO
<<ZSMK>> and OAO <<NKMK>>. The enterprise
will be named Evraz - Consolidated West Siberian Metallurgical
Combination.
This step will allow simplification of managerial processes and
formulation of single standards in the sphere of health safety and
environment, railway, automobile and warehouse logistics,
procurement, social policy and human resources management. The
consolidated enterprise will complete a large scale modernisation
of the rail and beam production and will produce globally
competitive 100-metre differentiated thermo-strengthened rails. It
will also implement a number of large projects which will introduce
new technologies in steel-making production, expand the
construction product line group and introduce the pulverised coal
injection technology into blast furnaces. The annual capacity of
the consolidated enterprise will amount to 6 million tonnes of pig
iron, 8.5 million tonnes of steel and more than 7.3 million tonnes
of steel rolled products.
"The ongoing modernisation of the consolidated enterprise will
allow Evraz to become one of the world leaders in production of
long products for transportation which are also necessary within
the context of implementation of the federal programme by Russian
Railways on the development of high speed transportation. The
consolidation will allow us not only to cut costs but also to
introduce single approaches in the sphere of health safety and
environment, human resources management, social policy, logistics
and procurement ", - said Alexey Ivanov, Evraz Group's Vice
President - Head of Steel Division.
###
For further information:
Media contact: +7 (495) 937-68-71 media@evraz.com
Investor contact: +7 495 232 1370
ir@evraz.com
Evraz Group S.A. is a vertically-integrated steel, mining and
vanadium business with operations in the Russian Federation,
Ukraine, Europe, USA, Canada and South Africa. The Company was
ranked the 14(th) largest steel producer in the world based on
crude steel production of 15.3 million tonnes in 2009. Evraz's
internal consumption of iron ore and coking coal is covered by its
mining operations. Evraz's consolidated revenues for the nine
months ended 30 September 2010 were US$9,729 million and
consolidated adjusted EBITDA amounted to US$1,766 million.
This information is provided by RNS
The company news service from the London Stock Exchange
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