Evraz agrees with ArcelorMittal on iron ore supply
01 November 2010 - 6:05PM
UK Regulatory
TIDMEVR
RNS Number : 3377V
Evraz Group S.A.
01 November 2010
Evraz Vitkovice Steel reaches agreement with ArcelorMittal Ostrava
over the supply of liquid pig iron
1 November 2010 - Evraz Group S.A. (LSE: EVR) ("Evraz") announces that its
subsidiary in the Czech Republic, Evraz Vitkovice Steel ("EVS"), has reached an
agreement with ArcelorMittal Ostrava over the supplies of liquid pig iron from
ArcelorMittal Ostrava ("AMO") to the steelmaking facilities of EVS.
The agreement is based on a price formula that both sides consider mutually
acceptable. The agreement will cover approximately the next five quarters. The
supply of pig iron from ArcelorMittal Ostrava to Evraz Vitkovice Steel will
resume in early November 2010. The new agreement implies the annual minimum set
at the level of 550,000 tonnes. As such, AMO's supplies will cover about 80% of
EVS's requirements. Part of EVS rolling needs will still be met by the supply of
slabs from Evraz's NTMK plant in Russia with the remaining portion acquired from
other suppliers in Slovakia, Ukraine, Turkey and other countries.
Evraz Vitkovice Steel has already started preparation of its steelmaking
facilities for re-launch.
Evraz Vítkovice Steel is a leading European manufacturer of rolled steel
products located in Ostrava, Czech Republic. It is one of Europe's top producers
of heavy plates and is the only plate producer in the Czech Republic. Production
capacity of its steel plant is 965,000 tonnes, plate mill - 755,000 tonnes per
annum.
###
For further information:
Media contact:
Alex Agoureev
VP, Public Relations
+7 985
122 4822
media@evraz.com
Investor contact:
Alexander Boreyko
Director, Investor Relations
+7
495 232 1370
ir@evraz.com
Evraz Group S.A. is a large 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 14th 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 six months ended 30 June 2010
were US$6,379 million and consolidated adjusted EBITDA amounted to US$1,554
million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGRBDBDGGBGGB
Evraz (LSE:EVR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Evraz (LSE:EVR)
Historical Stock Chart
From Oct 2023 to Oct 2024
Real-Time news about Evraz Plc (London Stock Exchange): 0 recent articles
More Evraz Group S.A. News Articles