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05 May 2008
Russia's Severstal-Metiz Acquires 34.6% Of Dniprometyz From TEKO Dniprometyz
Severstal-Metiz Company in Cherepovets (Russia), which unites hardware assets of Severstal, has purchased 34.6% of the shares of a Ukrainian metal goods producer - Dniprometyz Plant in Dnipropetrovsk.
Ukrainian News learned this from a statement by the Russian company.
The statement reads that Severstal-Metiz and TAS Group have signed a deal on the sale of the stake in Dniprometyz to the Russian company.
"As a result of the deal, Severstal-Metiz is the only large shareholder of the open joint stock company Dniprometyz, having consolidated 95% of its charter capital," the statement reads.
Severstal-Metiz confirms in the statement the investment plans concerning Dniprometyz the Russian company has announced before.
The plans include reconstruction of production facilities, reduction in the prime cost of goods, introduction of new kinds of production, optimization of subsidiary production activities, and implementation of energy saving projects.
According to a statement by Dniprometyz Company of May 20, Potren Limited (Cyprus), which formerly owned 60.0035% of the shares, has purchased 34.5957% of the shares and concentrated 94.5992% of the shares of Dniprometyz.
As Ukrainian News earlier reported, in February 2006, Severstal Metiz company, Russia, which unites hardware assets of Severstal, reported on purchase of 60% stake in Dniprometyz. Before the plant had been controlled by TAS financial company (81.03% belonged to Kyiv-based TEKO-Dniprometyz holding company). Severstal Metiz has an option for purchase of 27% of the plant's shares till the end of the year.
60.0061% stake in the plant belongs to Potren Limited (Cyprus), 33.9125% to TEKO Dniprometyz company.
Dniprometyz open joint-stock company is engaged in production of steel wire, flux cored wire (for welding), electrodes, steel nets, nails and other metal goods.
Ukrainian News
Bohdan Kovalenko
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