VIZ-Stal is Waiting for Shortages at Foreign Consumers’ Warehouses

06.05.2009 — News

THE SVERDLOVSK OBLAST.

OOO VIZ-Stal, the leading Russian producer of cold-rolled electrotechnical and transformer steel, made 672.7 million roubles net profit in the first quarter of 2009. Compared to the fourth quarter of 2008 this is a 74.6% drop.

The company, a member of the NLMK (Novolipetsk Metallurgical Combine) Group, informed RusBusinessNews that in January-March all of its key financials have decreased. Total turnover for this period amounted to just over 1.2 billion roubles which is a 3 times decrease compared to the end of 2008.

More than 80% of OOO VIZ-Stal's products is shipped abroad. The plant makes about 11% of transformer steel in the world. The established warehouse inventory allowed the foreign consumers to minimize purchasing the products in the first quarter of 2009.