Evraz Plc EVRAZ sells heat and power station in Novokuznetsk (0440O)
16 September 2013 - 4:46PM
UK Regulatory
TIDMEVR
RNS Number : 0440O
Evraz Plc
16 September 2013
EVRAZ announces disposal of a heat and power generating station
in Novokuznetsk
16 September 2013- EVRAZ plc (LSE: EVR) ("EVRAZ") announces that
it has signed an agreement for the sale of its Russian subsidiary,
heat and power station Tsentralnaya TETs, located in Novokuznetsk,
Kemerovo Region, to Russian Open Joint-Stock Company Optovaya
Elektricheskaya Kompaniya for RUB 10,000 in cash, which the company
will apply for general corporate purposes.
Tsentralnaya TETs generates and sells electricity and heat to
EVRAZ ZSMK and heat to the city of Novokuznetsk.
As at 30 June 2013, Tsentralnaya TETs had gross assets, which
are the subject of the transaction, of US$16.4 million. For the six
months ended 30 June 2013, it produced a loss before tax of US$9
million.
The disposal is in line with EVRAZ's plan of divesting non-core
and non-performing assets.
###
For further information:
Media Relations:
Vsevolod Sementsov
VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
Sergey Belyakov
Director, Investor Relations
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium
business with operations in the Russian Federation, Ukraine, USA,
Canada, Czech Republic, Italy and South Africa. EVRAZ is among the
top steel producers in the world based on crude steel production of
15.9 million tonnes in 2012. In 2012 EVRAZ sold 15.3 million tonnes
of steel products. A significant portion of the company's internal
consumption of iron ore and coking coal is covered by its mining
operations. The company's consolidated revenues for the year ended
31 December 2012 were US$14,726 million, and consolidated EBITDA
amounted to US$2,012 million. The H1 2013 consolidated revenue was
US$7,362 million and the H1 2013 EBITDA was US$939 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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