EVRAZ plc (EVRE.L)
18 Aug 2017
Latest Key Developments (Source: Significant Developments)
Bushveld Minerals Ltd
EVRAZ:Plans to keep 2016 steel production at the same level as in previous year - Reuters.In 2015 company production fell 8 percent to 14.3 million tonnes. Full Article
Danieli & C Officine Meccaniche SpA:Evraz signs contract with Danieli & C Officine Meccaniche SpA for technical modernization of the slab continuous casting machine into a billet casting machine at its West-Siberian Metallurgical Plant- Reuters.Total investments into the upgrade will exceed 4.5 billion rubles.Danie li to produce and deliver the equipment for refurbishment, mount and fine-tune all its parts in 2017-2018.The upgrade project, estimated for completion in 2018, will significantly increase production efficiency by cutting production costs. Full Article
EVRAZ plc:Fitch Ratings has affirmed Russia-based Evraz Group SA's (Evraz Group) and holding company Evraz plc's (Evraz) long-term issuer default rating (IDR) at BB-.The ratings of Evraz's 82 pct owned subsidiary, Russian coal company OAO Raspadskaya, have also been affirmed at B+.The outlook on all ratings is stable.Evraz Group's senior unsecured rating of BB- has also been affirmed.The rating affirmation reflects Evraz's ability to generate positive free cash flow (FCF) through the steel market cycle.Fitch expects this trend to continue in 2H15, assisted by the favourable foreign exchange impact on rouble-denominated costs. Full Article
MOSCOW, Aug 10 Russian integrated steel and mining company Evraz reported a doubling in first-half core profits on Thursday and proposed its first dividend since 2014, with results buoyed by higher coking coal and steel prices.