 |
contents |
 |
calendar |
|
2006 |
 |
|
|
|
|
|
|
calendar |
 |
2011 |
|
|
|
|
|
|
|
  mass-media about company
13 May 2008
Severstal-metiz and Group TAS agreed sale of stake in Dneprometiz
Severstal-metiz announced that it had bought a further 35% stake in the TAS banking and insurance group, bringing its shareholding of the company up to some 95%. Severstal-metiz bought its original 60% stake in February 2006. Dneprometiz’s previously announced development plans will continue. Severstal-metiz will complete its extensive investment program in the Ukrainian business by 2011. The investment includes the renovation of the cleaning line and wiredrawing shop 2. This will result in cost reduction, the development of new products, the optimization of ancillary processes and the implementation of energy saving projects. Dneprometiz is an attractive business for us. It has a number of advantages compared to Russian plants, such as: a lower production costs, better transport rates and favorable logistics.
Our investment to convert it to a modern wiredrawing facility will allow us to manufacture high value added products, meeting the low carbon requirements of the European standards," said Olga Naumova, CEO of Severstal-metiz. More details of the Dneprometiz development programme will be presented at a planned Severstal-metiz press conference in the middle of May 2008, Severstal said.
SKRIN Newswire
print version | contents | top
 |
before |
|
 search
|
January