Evraz Group acquires 50% share holding of Yuzhkuzbassugol United Coal Company
13 June 2007 (15:48)
Evraz Group acquired a 50% share holding of Yuzhkuzbassugol United Coal Company; the financial terms of the transaction have been kept confidential, Evraz Group’s press officer reports.
Evraz used to own 50% of Yuzhkuzbassugol, with the remaining half belonging to three individuals among the company’s management. Evraz Group decided to raise its share in the company’s authorized capital after an accident at Yubileynaya mine, promising to reconsider its investment strategy as far as Yuzhkuzbassugol was concerned.
The company’s total production output (coming from eleven mines altogether) amounted to 16.1 million tons last year (including 10.7 million tons of coking coal); its revenues reached $595 million in 2006.
Evraz used to own 50% of Yuzhkuzbassugol, with the remaining half belonging to three individuals among the company’s management. Evraz Group decided to raise its share in the company’s authorized capital after an accident at Yubileynaya mine, promising to reconsider its investment strategy as far as Yuzhkuzbassugol was concerned.
The company’s total production output (coming from eleven mines altogether) amounted to 16.1 million tons last year (including 10.7 million tons of coking coal); its revenues reached $595 million in 2006.
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