HomeMaterials for 19.12.2007
19 December 200709:11

MSA a.s. and ALLPORT International Pvt.Ltd. to set up joint venture in India

МSА a.s., the Czech fittings manufacturer and part of ChTPZ Complex Pipe Systems, and ALLPORT International Pvt. Ltd. of India signed an agreement that will enable the parties involved to set up a joint venture called MSA Allport Pvt. Ltd. in India. The new business will largely aim to handle export and import of pipe fittings, pipes and their parts, forgings, and castings, as well as to produce pipe fittings and their components. МSА and ALLPORT are going to get equal shareholdings, with one representative from each company to be appointed one of the BOD members. The new joint venture will
19 December 200709:09

Uralmash Machine Building Corporation buys Uralmash Metallurgical Machinery from Severstal

Uralmash Machine Building Corporation acquired Uralmash Metallurgical Machinery from Severstal. The cost of the transaction is reported to come to $15m. Uralmash Metallurgical Machinery was originally sold by United Machine Building Works (aka OMZ (Obedinennye Mashinostroitelnye Zavody, formerly United Heavy Machinery)) to Severstalmash/Severstal Group. Now, the newly bought business is going to become an integral part of Uralmash Engineering (Uralmashzavod’s daughter enterprise) that already comprises Mining Equipment Division and O&G Drilling Machinery Division. Uralmash Metallurgical
19 December 200709:03

RENOVA Stroy Group gets loan from Sberbank

RENOVA Stroy Group got a loan from Sberbank in order to finance the creation of engineering infrastructure in Yekaterinburg’s future Academic district. The loan scheme, devised by Sberbank’s Ural branch in September 2007, provides for 3.74 billion RUR that will be dispatched to RENOVA in two installments, with the borrower obliged to pay the money back by the end of 2010. The first portion amounts to 2.08 billion RUR, including 720 million RUR allotted for putting up water supply and sewerage systems. RENOVA received the first money tranche on November 30, 2007. The company is planning to