Evraz transfers ZSMK assets to NTMK
KEMEROVO. Nov 19 (Interfax) - Russian steel major Evraz has transferred 100% of the voting shares in Kemerovo region-based OJSC Evraz West Siberian Iron & Steel Plant (ZSMK) to Sverdlovsk region-based OJSC Evraz Nizhniy Tagil Iron & Steel Works (NTMK), according to NTMK materials.
According to the list of affiliated entities as of September 30, 99.99999% of Evraz ZSMK's stock belonged to Cyprus-based Mastercroft Limited, which is an investment company that manages Evraz's key metallurgical and mining assets. NTMK previously did not own any of Evraz ZSMK's shares.
In August, the Russian Federal Financial Markets Service (FFMS) freed Evraz ZSMK from the obligation to disclose information. The company's shareholders made the decision to request such permission at their annual general meeting this past June.
NTMK is among Russia's largest metallurgical enterprises.
Evraz ZSMK was founded on July 1, 2011 as a result of the merger of OJSC West Siberian Iron & Steel Works, OJSC Novokuznetsk Iron & Steel Works and CJSC Slab Continuous Casting Machine. The unified factory produces long products for construction and machine-building, including tram rails and rails for metros.
Evraz, a major vertically integrated metallurgical and mining company, is the only producer of vanadium iron ore in Russia and one of the largest producers of vanadium slag in the world.