ArcelorMittal and Severstal-metiz Announce the Agreed Sale to Severstal-metiz of Arcelormittal's 50% Interest in Metal Cord Producer Trefilarbed Rus.LUXEMBOURG & CHEREPOVETS, Russia -- Regulatory News: ArcelorMittal and Severstal-metiz today announced that they have agreed on the sale of ArcelorMittal Wire Solutions' 50% stake in steelcord producer TrefilArbed Rus to Severstal-metiz. The joint venture was established in 2005 when ArcelorMittal Wire Solutions joined Severstal-metiz to develop TA Rus on the Russian steelcord market, giving their JV access to specific technologies provided by ArcelorMittal Wire Solutions. This agreement will allow both companies to focus on their current wire strategies. Severstal-metiz aims to develop high value-added products for key Russian and CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S domestic markets. ArcelorMittal Wire Solutions' main growth area in steelcord is Asia. TA Rus is located at Severstal-metiz' Orel site. It will change its name to Orelcord. Its revenues totalled 842,5 million rubles, or about 31 million US dollars, in 2006. In 2006, the company obtained the ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 quality management certification. About Severstal-metiz (Russia) The Severstal-metiz company (the metalware met·al·ware n. Articles made of metal, especially flatware and other household implements. Noun 1. metalware - household articles made of metal (especially for use at table) division of Severstal) was founded in 2004. The company also incorporates the Ukrainian-based Dneprometiz and the British Carrington Wire Limited companies. One of the biggest players in the European and CIS markets, "Severstal-metiz" manages businesses which account for over 26% of Russia's metalware output (40% of export output) and employ more than 11 000 people. The first 9 months results for 2007 for the Severstal-metiz group of companies show that EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become increased 15% compared with the similar period last year, amounting to 54 million US dollars. Volume shipment in the first 9 months of 2007 totalled 796.1 thousand tons, 15 % less than same period in 2006. Sales revenues for this accounting period were 754 million US dollars, 25 % ahead of the same period in the previous year. The chairman of the Board of Directors is Anatoliy Kruchinin. CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the "Severstal-metiz" company is Olga Naumova. PR Department Olga Fomicheva phone / fax: +7 (495) 540-7766 (ex. 654-6) e-mail: oa.fomicheva@severstalgroup.com www.severstalmetiz.com About ArcelorMittal ArcelorMittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel. ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets. ArcelorMittal key pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma financials for 2006 show combined revenues of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP (1) (Message Transfer Part) See SS7. (2) (Media Transfer Protocol) A Microsoft enhancement to the picture transfer protocol (PTP), starting with Windows Media Player 10 in Windows XP. ), Brussels (MTBL MTBL Mean Time Between Data Loss ), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS (1) See Microsoft Transaction Server. (2) (Modular TV System) The stereo channel added to the NTSC standard, which includes the SAP audio channel for special use. 1. MTS - Message Transport System. 2. ). |
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