MasterCroft Sells over 5% of VGOK shares

Vysokogorsky Ore Mining and Processing Enterprise (VGOK JSC, member of Evraz Group) has acquired a new frontlift for its crane and tractor fleet. The new vehicle is high-powered and very mobile. It steers easily and requires no engineering changes. The frontlift carrying capacity is 72 tons. It will be employed at Vysokogorsky processing plant during the dunite transshipping and road metal shipping operations as well as in the processing chain of Lebyazhinsky sintering plant. The existing loader fleet of VGOK consists of 41 vehicles, but none of them is as powerful as the new frontlift.

EVRAZ Holding is undergoing a re-branding campaign at the moment. The company gave new names to a number of its Russia- and Ukraine-based assets, adding the name of EVRAZ to the earlier denominations. The holding member companies’ shareholders voted for the new official names of the following enterprises: EVRAZ Vysokogorsky Ore Mining & Processing Plant (EVRAZ VGOK), EVRAZ Kachkanarsky Ore Mining & Processing Plant (EVRAZ KGOK), EVRAZ Nakhodkinske Commercial Sea Port (EVRAZ NMTP), EVRAZ United West-Siberian Iron & Steel Plant (EVRAZ ZSMK), and EVRAZ Nizhniy Tagil Iron & Steel

Evraz Group is planning to buy a 5.003% share holding of Metallurgical Industrial Complex of Nizhniy Tagil. Mastercroft Limited, the company’s subsidiary that owns 94.997% of the Complex, has offered 65.541 million shares to the minority shareholder; these shares are to be acquired before May 29, 2007 for 63.72 RUR ($2.45) apiece. The total cost of the 5.003% share holding will thus come to 4.18 billion RUR, reports the spokesperson for Evraz Group.

Vysokogorsky ore mining and processing enterprise (VGOK JSC, member of Evraz Group) held a meeting concerning organization of the Ninth Ural Mining Industry Congress on June 28-29, 2006. The congress will be held as a part of celebrations of the company’s 285th anniversary and will be attended by representatives of Sverdlovsk Regional Government, Nizhny Tagil local administration, EvrazHolding Management Company and members of the press. This was reported by VGOK PR-department.

Some new managing directors have recently been appointed to Evraz Group’s Urals-based enterprises – Vysokogorskiy Ore Mining & Processing Enterprise (VGOK) and Kachkanar Ore Mining & Processing Enterprise (KGOK, aka Vanadium). The new managers were introduced to their personnel by Evraz Vice President and Head of Ore Division Konstantin Lagutin. VGOK will now be run by former head of the enterprise’s Lebyazhinskiy sintering plant Andrei Kuznetsov. The company’s ex-Managing Director Sergey Napolskikh has been appointed the top executive of Kachkanar Ore Mining & Processing