Metalloinvest Finance Designated Activity Company: Metalloinvest and Zagorsk Pipe Plant exploring partnership for development of Ural Steel

Metalloinvest Finance Designated Activity Company (IRSH) 
Metalloinvest Finance Designated Activity Company: Metalloinvest and Zagorsk 
Pipe Plant exploring partnership for development of Ural Steel 
 
31-Jan-2020 / 17:01 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
 Metalloinvest and Zagorsk Pipe Plant exploring partnership for development 
                               of Ural Steel 
 
     Moscow, Russia - 31 January 2020 - Metalloinvest and Zagorsk Pipe Plant 
     (ZTZ) announced that they are holding discussions regarding a strategic 
 partnership between the two companies for the development of Ural Steel, as 
                 well as regarding ZTZ becoming a shareholder in Ural Steel. 
 
            The conclusion of a deal depends on the successful completion of 
      negotiations, on the procedure for auditing the financial and economic 
  activities of Ural Steel, the signing of legally-binding documentation and 
                               obtaining the necessary regulatory approvals. 
 
 Andrey Varichev, CEO of Management Company Metalloinvest, commented: "We're 
aiming to develop Ural Steel together with our partner ZTZ. This will create 
  synergies and additional value for all parties. Ural Steel will have a new 
           motivation for development and increasing production efficiency." 
 
          Denis Safin, CEO of Zagorsk Pipe Plant, said: "We see synergies in 
 developing a partnership with Metalloinvest, which for us has always been a 
  reliable sheet supplier. Moreover, collaboration on Ural Steel will enable 
    us to become more competitive and allow us to diversify our operations." 
 
# # # # 
 
For more information, please contact: 
 
Artem Lavrischev 
Investor Relations and Corporate Ratings Department 
 
E: [e-mail] 
T: [phone], ext. 7243 
 
Anton Troshin 
External Corporate Communications Department 
 
E: [e-mail] 
 
T: [phone], ext. 7629 
 
  Metalloinvest (www.metalloinvest.com [1]) is a leading global iron ore and 
    merchant HBI producer and supplier, and one of the regional producers of 
high-quality steel. The Company has the world's second-largest measured iron 
          ore reserve base and is one of the lowest-cost iron ore producers. 
 
Metalloinvest is wholly owned by Holding Company USM LLC. Alisher Usmanov is 
                     the major beneficiary of Holding Company USM LLC (49%). 
 
   Zagorsk Pipe Plant (http://z-t-z.ru/ru) became operational in 2016 and is 
 one of the most modern plants for the production of large-diameter pipes in 
Russia. ZTZ has the production capacity to manufacture longitudinally welded 
pipes with a diameter of 530 to 1,420 millimetres and a length of up to 12.2 
 meters using steel of strength class X100. The Company primarily caters for 
                                                     the oil and gas sector. 
 
     In December 2017, the Company received the right to supply products for 
  investment projects of PJSC Gazprom, and in April 2018, it received an API 
                                                             5L certificate. 
 
     ZTZ has over 1,400 employees and is one of the largest taxpayers in the 
                                                              Moscow region. 
 
ISIN:          XS0918297382 
Category Code: MSCL 
TIDM:          IRSH 
Sequence No.:  43919 
EQS News ID:   965363 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=ff91d39679429e3f0ca8b5377561597e&application_id=965363&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

January 31, 2020 09:01 ET (14:01 GMT)