Nizhny Tagil Iron & Steel Works becomes Evrazruda owner
YEKATERINBURG/KEMEROVO. Dec 25 (Interfax) - OJSC Evraz Nizhny Tagil Iron & Steel Works (NTMK) has become the owner of 99.999% of the charter capital of OJSC Evrazruda, an NTMK statement says.
Both companies are part of Russian steel major Evraz Group. The deal went through on December 24.
The statement does not say whether the NTMK had a stake in Evrazruda earlier. According to the list of Evrazruda affiliates, 99.999% of its charter capital belonged to the Cyprus-based MasterCroft, Ltd. at end-Q3.
The Evraz group's regional center for corporate relations Sibur told Interfax that the deal was done in the context of the process of streamlining asset ownership and management. A representative said that this is a technical procedure that will have no impact on Evrazruda operations.
NTMK became the owner of 99.99999% of the charter capital of OJSC United Coal Company Yuzhkuzbassugol, located in Kemerovo Region and part of the Evraz group, back in October. In November of last year, Evraz transferred to NTMK the assets of OJSC Evraz United West Siberian Metallurgical Combine, also in Kemerovo Region. MasterCroft had previously be the owner of the charter capital in both these companies.
NTMK is one of the leading Russian metallurgical enterprises.
Evrazruda combines the Tashtagolsky, Kazsky, Guryevsky and Sheregeshsky mines and Abagur enrichment and sintering plant and Mundybash enrichment plant in the Kemerovo region, the Abakansky and Teisky mines in Khakasia and the Irbinsky mine in the Krasnoyarsk territory.
Evraz is a major vertically integrated metallurgical and mining company with assets in Russia, the United States, Italy, Czech Republic, Republic of South Africa, and Ukraine.
