Last checked at 27 Jul 2012 14:56
Q2 2012 OPERATIONAL RESULTS - CLARIFICATION
27 July 2012 - Further to its announcement of Q2 2012 operational results on 16 July 2012, EVRAZ plc (LSE: EVR) wishes to clarify the following:
In Q3 2012, crude steel production by the Russian steel mills is expected to increase by 2% compared to Q2 2012. In Q3 production volumes will be affected by the following:
1) in connection with the rail mill modernisation at EVRAZ ZSMK:
a. temporary shutdown for an upgrade since 8 April 2012 of one of the two electric arc furnaces (EAF) , which is scheduled to be re-launched at the end of September 2012 and
b. 24-day production optimisation works at another EAF and at a billet caster in Q3 2012;
2) capital repair of blast furnace 6 (BF 6), 6 days, at EVRAZ NTMK;
3) regular maintenance of converter No 3, 47 days, at EVRAZ ZSMK and converter No 4, 30 days in Q3 (to be continued in Q4);
4) 3-day annual maintenance works of the gas pipeline carried out by the company supplying natural gas to EVRAZ ZSMK.
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For further information:
Investor Relations:Alexander BoreykoDirector, Investor RelationsLondon: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
Media Relations:Oleg KuzminVP, Corporate CommunicationsLondon: +44 207 832 8998 Moscow: +7 495 937 6871media@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top 20 steel producers in the world based on crude steel production of 16.8 million tonnes in 2011. In 2011 EVRAZ sold 15.5 million tonnes of steel products. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended 31 December 2011 were US$16,400 million and consolidated adjusted EBITDA amounted to US$2,898 million.