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  mass-media about company
27 March 2007
Severstal-Metiz consolidated 100% stake in Policher
Company Severstal-Metiz consolidated a 100% stake in company Policher. This enterprise had been established 4 years ago on the basis of a wirecloth shop at Cherepovets steel mill together with Swiss company Poly Metal SA. Shares of the joint venture's participants were equal (fifty-fifty).
Early 2005, the steel mill forming Severstal-Metiz had redeemed a part of shares in Policher from its partners, reaching 90% of its participation. Now the enterprise has got one owner. Policher activity is mainly aimed at making and selling woven metal mats. Severstal-Metiz had been working since July 1 2004. It manages Cherepovets and Orel steel mills and Volgometiz. Besides that, august last year the company had bought a 100% stake in British Сarrington Wire Ltd (СWL) with annual output at some 200 thousand tones from Aсertec Holdings Ltd for $ 35 million. February, the company bought a 60% stake plus one share in Ukraine's Dneprometiz by annual capacity of some 180 thousand tones for $ 33 million from group TAS. By deal's terms, Severstal-Metiz got an option to redeem the rest 23% of shares in Dneprometiz for $ 14-20 million in a year.
In 2005, Severstal-Metiz forming holding Severstal Grupp had shipped 825,4 thousand tones of commodity including 198,1 thousand tones for export. A company’s 2005 investment program came to RUR 200 million. In 2007 it is planned to raise investments to RUR 712 million or 1,6 times.
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