Metalloinvest Finance Designated Activity Company: Metalloinvest and Zagorsk Pipe Plant completed negotiations on joint development of Ural Steel

Metalloinvest Finance Designated Activity Company (IRSH) 
Metalloinvest Finance Designated Activity Company: Metalloinvest and Zagorsk 
Pipe Plant completed negotiations on joint development of Ural Steel 
 
03-Jul-2020 / 11:20 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 completed negotiations on joint 
                         development of Ural Steel 
 
  Moscow, Russia - 02 July 2020 - Metalloinvest and Zagorsk Pipe Plant (ZTZ) 
    have ended discussions on a strategic partnership for the development of 
   Ural Steel and on ZTZ's acquisition of an equity stake in the enterprise. 
  Following an in-depth study and analysis of market conditions, the parties 
                decided to continue independent development of their assets. 
 
Metalloinvest reaffirms its commitment to its long-term partnership with ZTZ 
                                                            in steel supply. 
 
      Ural Steel has been part of Metalloinvest since 2006. Over the past 10 
  years, the total investment into the enterprise's development has exceeded 
         25 bn roubles. Significant progress has been made in developing and 
   modernising production facilities to minimise the environmental impact of 
  the production. The decommissioning of outdated open-hearth production and 
equipment modernisation have enabled a reduction in emissions by more than a 
                                                           third since 2006. 
 
 Since 2017, Metalloinvest has been implementing a comprehensive development 
programme at Ural Steel. In 2019, modernisation of the electric arc furnaces 
      was completed following the implementation of Flexible Modular Furnace 
         technology. Last year the enterprise introduced a single integrated 
                financial and business management system using SAP S/4 HANA. 
 
Currently, blast furnace modernisation, construction of a new air separation 
  facility, modernisation of the thermal power plant and foundry development 
                                                            are in progress. 
 
# # # # 
 
If you have any questions, please contact us: 
 
Artem Lavrischev 
Investor Relations 
 
E: [e-mail] 
 
T: [phone], ext. 7243 
 
Anton Troshin 
 
Public Relations 
 
E: [e-mail] 
 
T: [phone], ext. 7629 
 
    Metalloinvest 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%). 
 
ISIN:          XS0918297382 
Category Code: MSCL 
TIDM:          IRSH 
Sequence No.:  73561 
EQS News ID:   1085629 
 
End of Announcement EQS News Service 
 
 

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July 03, 2020 04:20 ET (08:20 GMT)