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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Evraz Plc | LSE:EVR | London | Ordinary Share | GB00B71N6K86 | ORD USD0.05 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 82.68 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8618O Evraz Group S.A. 13 July 2005 Evraz Group S.A. to acquire Vitkovice Steel in Czech Republic * Selected by the Government of Czech Republic in privatisation tender auction * Acquisition in line with strategy to develop Group's presence in the established European markets Moscow, July 13, 2005 - Evraz Group S.A. (LSE: EVR), one of the leading vertically integrated steel production and mining businesses with operations mainly in Russia, today announces it has been selected by the Government of Czech Republic to acquire Vitkovice Steel, the largest platemaker in the Czech Republic, for CZK7.05 billion (approximately Euro233 million). Evraz Group will acquire 98.96% of the shares in Vitkovice in the privatization and take control of the business within the next three months, subject to approval from competition authorities. Evraz Group will then begin implementing a new business plan for Vitkovice focused on improving its efficiency and international competitiveness. The acquisition will be financed from a combination of debt and existing facilities, including the capital raised from the Group's initial public offering on the London Stock Exchange in June 2005. The acquisition is in line with Evraz Group's stated strategy to develop its presence in the established European markets. Commenting, Alexander Abramov, Evraz Group Chairman and Chief Executive Officer, said: "We are very pleased with the Czech Republic Government's decision to award the Vitkovice privatization to Evraz. We believe our bid was the strongest in meeting all the requirements of the Government. This acquisition will allow the company access to growing Central and Eastern European (CEE) steel market. The Czech Republic, in particular, is enjoying strong economic growth following its recent entrance to the European Union. We look forward to welcoming Vitkovice into the Evraz Group and to developing it into a world-class business." # # # For further information: Evraz Group Corporate Affairs and Communications Irina Kibina Alexander Karlashov Tel: +7 095 234 4627 IR@eam.ru Merlin Lachlan Johnston Maria Suleymanova Tel: +44 207 653 6620 Crest Communications Sarka Marikova Tel.: +42 222 927 110 sarka.marikova@crestcom.cz Notes to Editors Evraz Group S.A. Evraz Group is one of the largest vertically-integrated steel and mining businesses with operations mainly in the Russia. In 2004, Evraz produced 13.7 million tonnes of crude steel. Evraz's principal assets include three of the leading steel plants in Russia: Nizhny Tagil (NTMK) in the Urals region, and West Siberian (Zapsib) and Novokuznetsk (NKMK) in Siberia. Evraz Group's fast-growing mining businesses comprise the Kachkanarsky (KGOK), Evrazruda (acquired in March 2005) and Vysokogorsky (VGOK) iron ore mining complexes and NeryungriUgol Coal Company and an equity interest in the Raspadskaya coal mine. The mining assets primarily supply Evraz Group's steelmaking operations, enabling the company to be a vertically-integrated steel producer, limiting its exposure to fluctuations in the prices of key raw materials. Evraz obtained over 70% of its iron ore requirements from KGOK, Evraz Ruda and VGOK in 2004 and also obtains the majority of its coking coal from Raspadskaya and other affiliated producers. Evraz also owns and operates the Nakhodka commercial sea port, in the Far East of Russia, which facilitates access to Asian export markets. Vitkovice Steel Vitkovice Steel is the largest platemaker in the Czech Republic located in the City of Ostrava in the Moravia region of the country. Vitkovice Steel produced 870,000 tonnes of steel products in 2004, mostly high-quality steel plate. It recorded sales of Euro423 million and earnings before interest, tax, depreciation and amortisation of approximately Euro 57 million in 2004. Vitkovice Steel employs more than 1500 people. This information is provided by RNS The company news service from the London Stock Exchange END ACQKGGMNNFFGKZM
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