October 31, 2014. EVRAZ announces its Nizhyaya Salda Metallurgical Plant (NSMZ, owned by EVRAZ’s independent subsidiary Nizhniy Tagil Integrated Works) has been sold to OOO Businessinvest, the holding’s official statement goes.

‘The transaction in question is in full compliance with EVRAZ’s current strategy, namely, selling unprofitable and non-core assets. NSMZ made 62m RUR worth of losses in 2013, which had been brought about by a considerable decrease in the demand for its produce. EVRAZ Nizhniy Tagil Integrated Works will stop the production process at the plant on November 1, 2014, although all the orders placed in 2014 will have been fulfilled and shipped to customers within the following six months,’ the holding says.

NSMZ employees are expected to retain their jobs within the company. The two parties in the transaction will sign a two-year agreement for the delivery of sections, steel strips, stop blocks, and clamps.

Nizhyaya Salda Metallurgical Plant is located in Nizhyaya Salda, within 54km of Nizhniy Tagil. NSMZ manufactures component parts for railways, such as elements of cushion bolsters and spike-fastening devices, stop blocks, and clamps. Last year, NSMZ’s 600 employees produced 62,000,000 kg of goods.