UMMC transferred shares of the Revda Works from the Cyprian off-shore

11.03.2015 — News

SVERDLOVSK REGION

The Ural Mining and Metallurgical Company, OJSC, transferred the controlling stake of the Revda Non-Ferrous Metals Processing Works, OJSC (RNFMPW) to its name. The asset list includes 81.12% of the Company’s securities, which previously were owned by Cyprus-based Shatravan Holdings Limited.

The UMMC Press Service informed RusBusinessNews that the transaction should be seen as a technical operation. 

In 2013 the program aimed at development of companies operating within the UMMC-NFMP division was launched. Under the program the RNFMPW will receive equipment for two process flows: production of copper mill products and copper alloy mill products. The amount earmarked for the project was 3.2 billion rubles. When the project is completed by 2018, the output of mill products will reach 45 thousand tons a year.