PJSC Chelyabinsk Zinc Plant - Chelyabinsk Zinc Plant announces of Brock Metal sale(UK)
PR Newswire
London, June 6
NEWS RELEASE
For Immediate Release - June 06, 2018
PJSC Chelyabinsk Zinc Plantannounces completion ofsale of The Brock Metal Company Limited.
Chelyabinsk, Russia - June 06, 2018 - Chelyabinsk Zinc Plant (LSE, MOEX: CHZN), Russia's largest producer of zinc and zinc alloys, announces the completion of sale of The Brock Metal Company Limited.
PJSC CZP confirms that on the 31st May 2018 it completed the transfer of the Brock Metal business to The NFM Group.
The Brock Metal Company is based in Cannock (UK) and is a leading supplier of zinc die-casting and galvanizing alloys in the UK and European markets. The NFM Group, one of the major zinc alloy producers in the European market. NFM Group is a privately held company. Its principal shareholders are the managers of the operational subsidiaries NFM-Cramet N.V. and NFM Alloyz S.A.
All of Brock's existing management team and employees will continue with the business. The transaction was advised on by Hawkins Hatton Corporate Lawyers for NFM and Shakespeare Martineau LLP for CZP. The Company and its directors' were advised by KPMG, who ran the sales process.
Pavel Izbrekht,General Director of CZP, said:«Taking into account the strategy of CZP and its priorities it's expected that sale of The Brock Metal Company enables CZP to focus on the raw-materials base development and the main production modernization, thereby concentrating funds on the domestic market. Furthermore, considering current LME zinc prices, this transaction is attractive and economically effective one for CZP».
About Chelyabinsk Zinc Plant
ChelyabinskZinc Plant is the leading Russian zinc producer. In 2017 the plant produced 183,002 tonnes of saleable SHG zinc.
According to consolidated IFRS accounts, revenue in 2017 was RUB 38,548 mln and EBITDA was RUB 9,266 mln.
CZP ordinary shares are traded on the Moscow exchange under ticker CHZN and Global Depositary Receipts (GDR) are traded on the London Stock Exchange under ticker CHZN.
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Investor and Media Contacts:
Natalya Vasilieva, PR, ngv@zinc.ru
Tel:+7 (351) 799-01-52
