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  mass-media about company
13 December 2006
In 2007, Severstal-Metiz to direct RUB 522.5 mln to realize repair program
AK&M (Russia)
In 2007, Severstal-Metiz OJSC will direct RUB 522.5 mln to realize its repair program of its Russian companies, which is 5% more than in 2006, the company says. The main part of the funds will be spent to capital and current repairs.
Repair costs at the Cherepovets Mill will total some RUB 311.7 mln (+ 1.4%).
It is planned to use RUB 143 mln at the Orlov Mill, which is 12.5% more y-o-y. The repair program of the Volgograd Mill will grow by 13% and will amount to about RUB 68 mln.
Severstal-Metiz is a division of Severstal Group. The Company has been operating since July 1, 2004. It manages the Tcherepovets and Orlov Rolling Mills and Volgometiz. In addition, in April, the Company acquired 100% shares of the British Сarrington Wire Ltd. (СWL), with an annual production volume of approximately 200,000 tons, for $35 million from Aсertec Holdings Ltd. In February, the Company purchased 60%+1 share of the Ukrainian Dneprometiz OJSC, with a production capacity of some 180,000 tons, for $33 million from the TAS Group. Under the transaction, Severstal-Metiz received a buy-out option for the rest 27% shares of Dneprometiz upon the year end for $14-20 million.
In 2005, Severstal-Metiz shipped 825.4 th tons of products.
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