FAS gives UMMC and Russian Copper Company clearance to purchase 84% in Chelyabinsk Zinc Plant
MOSCOW. July 14 (Interfax) - Urals Mining and Metals Company (UMMC) and CJSC Russian Copper Company have received clearance from Russian Federal Antimonopoly Service (FAS) to buy Chelyabinsk Zinc Plant , which is part of the Chelyabinsk Pipe Rolling Mill (ChTPZ), the FAS told Interfax.
According to the acquisition's terms, UMMC will receive 47% in Chelyabinsk Zinc Plant while Russian Copper Company will acquire 37%.
The clearance is accompanied by a regulation, which will be published on the FAS website.
Chelyabinsk Zinc Plant is Russia's leading zinc producer with a 64% domestic market share.
ChTPZ Group unites companies specializing in the ferrous metallurgy sector. The group consists of the Chelyabinsk and Pervouralsk pipe mills as well as ChTPZ-Meta, a company specializing in scrap metal collection and processing; metal trading company Uraltrubostal Trading House; Chelyabinsk Zinc Plant; and oil industry services provider Rimera. Arkley Capital S.a r.l., Luxembourg, manages ChTPZ Group's assets.
UMMC combines some 50 enterprises in various Russian regions. It produces about 40% of Russia's cathode copper and zinc and around half its lead and controls a quarter of the domestic market for nonferrous rolled products and more than half of the European market for copper powders.
Russian Copper Company controls 14% of Russia's copper cathode market and 24% of its copper feedstock reserves.