Key Developments: EVRAZ plc (EVRE.L)

EVRE.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

EVRAZ plc launches rails shipment to Russian Railways
Monday, 16 Dec 2013 07:00pm EST 

EVRAZ plc:Launches the mass production of head-hardened R65 DT-350 rails, with the first delivery, comprising 10,000 tons of 25-meter rails, shipped to Russian Railways.Says these new EVRAZ-produced rails will be used on Oktyabrskaya, Gorkovskaya and Severnaya Railways.Says in Nov. the Federal Railway Transport Certification Registrar issued EVRAZ with a compliance certificate for R65 DT-350 head-hardened rails with lengths of up to 100 meters, thus authorizing the company to launch the production of merchandise in the Russian market.Says 25-meter head-hardened rails produced at EVRAZ ZSMK have an extended life cycle, allowing a reduction in the number of repairs required.  Full Article

EVRAZ plc's JSC Evrazruda to Sell Ore Business in Khakassia
Tuesday, 19 Nov 2013 07:00pm EST 

EVRAZ plc (EVRAZ) announced that EVRAZ and LLC Ruda Khakasii have signed a Memorandum of Understanding agreeing the acquisition by LLC Ruda Khakasii of 100% of LLC Abakanskiy Rudnik, LLC Abaza-Energo, LLC Teyskiy Rudnik and LLC Teyskie Energoseti from JSC Evrazruda. This agreement is supported by the Government of Khakassia, and if the deal is realised, it may be closed in the first quarter of 2014. The decision to sell these facilities in Khakassia is in line with the EVRAZ strategy to optimise its ore asset portfolio, and is targeted both at reducing operating losses and at improving Evrazruda’s financial performance.  Full Article

EVRAZ Plc Enters Agreement To Sell Gramoteinskaya Thermal Coal Mine
Tuesday, 15 Oct 2013 02:06am EDT 

EVRAZ Plc announced that it has signed a binding agreement for the sale of the Gramoteinskaya thermal coal mine, part of its wholly-owned subsidiary Yuzhkuzbassugol Coal Company, to Lehram Capital Investments Ltd for RUB10,000 cash consideration, calculated on a debt free basis. The disposal is in line with EVRAZ's plan of divesting non-performing assets. The Company is focusing on the development of coking coal mines important for securing the access to raw materials in steelmaking while the thermal coal mining business is non-core to the strategy.  Full Article

EVRAZ plc Signs Agreement to Sell Iron Ore Mining Asset VGOK-Interfax
Thursday, 19 Sep 2013 12:17am EDT 

Interfax reported that Evraz plc (Evraz) has signed a binding agreement for the sale of its wholly owned subsidiary Evraz Vysokogorsky Iron Ore Mining and Processing Plant (VGOK) to NPRO URAL for a consideration of $20 million on a debt free basis, Evraz said in a press release. In addition, Evraz has agreed to provide up to RUB 400 million ($12.4 million) to VGOK for the purpose of normalizing its working capital. The consideration will be payable in several installments: an initial $5 million payable at the completion of the transaction, with the rest to be paid in equal monthly installments during the next 24 months. The transaction is subject to receipt of approval by the Russian Anti-Monopoly Service and certain corporate actions and is expected to be completed during October 2013. Evraz will apply the proceeds from the sale for general corporate purposes. Simultaneously with signing of the sale agreement, VGOK and Evraz have executed a three-year agreement for the supply of iron ore concentrate from VGOK to the Evraz ZSMK steel works on market terms and a 10-year agreement for the processing by VGOK of certain Evraz NTMK by-products.  Full Article

EVRAZ plc Does Not Recommend Interim Dividend
Thursday, 29 Aug 2013 02:00am EDT 

EVRAZ plc announced that the board has not recommended the payment of an interim dividend in respect of H1 2013.  Full Article

Fitch Affirms Novolipetskiy metallurgicheskiy kombinat OAO's and EVRAZ plc's Ratings-Interfax
Thursday, 25 Jul 2013 03:11am EDT 

Interfax reported that Fitch Ratings (Fitch) has affirmed Russian steel producers Novolipetskiy metallurgicheskiy kombinat OAO (NLMK) at BBB- and EVRAZ plc (Evraz) at BB-, the agency said in a press release. Fitch has revised the outlook on NLMK's long-term issuer default rating (IDR) to negative from stable. Outlook on Evraz's long-term IDRs is stable. The revision of NLMK's outlook to negative is due to the increase in its leverage in the fiscal year 2012 above Fitch's expectations. Evraz's performance in FY 2012 was in line with Fitch's expectations. The affirmations follow an industry review, which included an analysis of forecast operational and financial profiles for each steel company over the next three years. Over this period Fitch expects steel products' prices to remain below the 2012 level, although with a gradual recovery year-on-year. The companies’ margins will generally remain under pressure. However, Fitch expects each company's EBITDAR margin to be above 10%-12% over the next three years. This compares well with international peers.  Full Article

Polymetal International PLC and EVRAZ plc to Be Replaced by Persimmon PLC and Travis Perkins PLC at FTSE 100-Interfax
Thursday, 13 Jun 2013 02:02am EDT 

Interfax reported that Polymetal International PLC (Polymetal) and EVRAZ plc (Evraz) have been excluded from the FTSE 100 index as the result of a quarterly review, the London Stock Exchange said. Reports have said this was due to a sharp decline in the value of the companies' share price in recent months. Polymetal and Evraz were included in the FTSE 100 in 2011. They will be replaced by construction firm Persimmon PLC and building materials producer Travis Perkins PLC. The changes take effect on June 24. Polymetal and Evraz will now join the FTSE 250 with free floats of respectively 34% and 51%.  Full Article

EVRAZ plc's Board of Directors Recommends No FY 2012 Dividends-RosBusinessConsulting
Wednesday, 10 Apr 2013 08:00pm EDT 

RosBusinessConsulting reported that the Board of Directors of Evraz plc has recommended not to pay dividends for 2012 due to a deterioration of the market environment and the Company's performance in H2, the Company's press office said in a statement. Evraz pl paid out interim dividends for H1 2012 of USD 0.11 per share.  Full Article

EVRAZ plc Acquires Stake in Timir Iron Ore Project-Regulatory News Service
Tuesday, 2 Apr 2013 12:01am EDT 

Regulatory News Service reported that EVRAZ plc (EVRAZ) has signed an agreement to acquire the stake in OJSC Timir (Timir) for a total consideration of RUB 4,950 million (approximately USD 160 million) to be paid in several instalments. At completion EVRAZ will receive 51% stake in OJSC Timir, AK Alrosa OAO (OJSC Alrosa) will own 49% minus one share and Vnesheconombank (VEB) will receive one share. Timir is a joint venture between EVRAZ and Alrosa created for the development of iron ore deposits and is currently holding licenses for 4 iron ore deposits (Tayozhnoye, Desovskoye, Tarynnakhskoye and Gorkitskoye) in the southern part of Yakutia in Russia with total mineral resource base under the Russian geological classification of 3.5 billion tonnes (Russian geological categories of A+B+C1  Full Article

EVRAZ plc Proposes Sale Of 85% Stake In Evraz Highveld Steel And Vanadium Limited
Wednesday, 27 Mar 2013 12:49pm EDT 

EVRAZ plc announced the signing of a non-binding term sheet in respect of the proposed sale of its 85% stake in EVRAZ Highveld Steel and Vanadium Limited (EVRAZ Highveld) to Nemascore (Pty) Ltd, black economic empowerment consortium, for an indicative cash consideration of approximately USD320 million (the Transaction). EVRAZ will utilise the sale proceeds for general corporate purposes. EVRAZ Highveld is a vertically integrated iron ore steel and vanadium slag producer. Steel and vanadium slag are produced at the integrated steelworks situated in eMalahleni, Mpumalanga with ore for the steelworks obtained from the Mapochs Mine in the Roossenekal area, Limpopo.  Full Article

BRIEF-Evraz says considering IPO of Evraz North America

* Considering registered initial public offering of Evraz North America

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