25 Mar 2011 13:11
Magnitogorsk Iron and Steel Works
March 25, 2011
MMK Group completed the sale of Belon energy business
Open Joint Stock Company Belon, part of Magnitogorsk Iron & Steel Works Group (MMK), announced it has completed the sale of its energy business including 100 percent shares of Listvyazhnaya Coal Mine and 100 percent shares of Listvyazhnaya Preparation Plant to SDS-Coal Holding Company. The deal totaled USD 280 million.
Energy coal, which is the core product of Listvyazhnaya Coal Mine and Listvyazhnaya Preparation Plant, was not used in the technological chain of MMK. Belon will further focus on developing its coking coal segment.
About Belon
Open Joint Stock Company Belon is part of Magnitogorsk Iron & Steel Works Group (MMK). Belon's core activities include mining and processing of coking coal and production of coal concentrate. The company supplies strategically important raw materials to MMK.
The Belon group comprises the following companies: Chertinskaya-Koksovaya Mine, Chertinskaya-Yuzhnaya Mine, Kostromovskaya Mine, Novobochatsky Strip Mine, Kostromovskaya Mine, Belovskaya Preparation Plant, Sibgormontazh, Belovopogruztrans, Inskaya Motor Depot, Belon-geologya Company and Mikrosfera Company.
About MMK
MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added products. In 2010 MMK Group produced 11.4 mln tons of crude steel and 10.4 mln tons of commercial steel products.
MMK Communications Department
Kirill Golubkovtel.: +7 916 675 3081E-mail: kgolubkov@mmk.ru | Elena Evstigneevatel.: +7 985 763 4443E-mail: evstigneevaed@mmk.ru | Alexander Proskurovtel.: +7 3519 246303E-mail: proskurov@mmk.ru |