Last checked at 16 Sep 2013 07:46
EVRAZ announces disposal of a heat and power generating station in Novokuznetsk
16 September 2013- EVRAZ plc (LSE: EVR) ("EVRAZ") announces that it has signed an agreement for the sale of its Russian subsidiary, heat and power station Tsentralnaya TETs, located in Novokuznetsk, Kemerovo Region, to Russian Open Joint-Stock Company Optovaya Elektricheskaya Kompaniya for RUB 10,000 in cash, which the company will apply for general corporate purposes.
Tsentralnaya TETs generates and sells electricity and heat to EVRAZ ZSMK and heat to the city of Novokuznetsk.
As at 30 June 2013, Tsentralnaya TETs had gross assets, which are the subject of the transaction, of US$16.4 million. For the six months ended 30 June 2013, it produced a loss before tax of US$9 million.
The disposal is in line with EVRAZ's plan of divesting non-core and non-performing assets.
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For further information:
Media Relations:
Vsevolod Sementsov
VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
Sergey Belyakov
Director, Investor Relations
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@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 steel producers in the world based on crude steel production of 15.9 million tonnes in 2012. In 2012 EVRAZ sold 15.3 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 2012 were US$14,726 million, and consolidated EBITDA amounted to US$2,012 million. The H1 2013 consolidated revenue was US$7,362 million and the H1 2013 EBITDA was US$939 million.