Chelyabinsk Zinc Plant Controlling Interest Purchased by Copper Producers
29.09.2009 — News
The Consortium of OAO "Ural Mining and Metallurgical Company" and ZAO "Russian Copper Company" gained control over OAO "Chelyabinsk Zinc Plant" by acquiring 100% of shares of NF Holdings B.V. which controlled 58% of Chelyabinsk Zinc Plant. The enterprise is one of the largest manufacturers of zinc metal (64% of gross production volume) in Russia.
The ARKLEY CAPITAL S.a r.l. holding company, Luxemburg, which owned NF Holdings B.V. and managed the assets of the ChTPZ Group, refused to reveal the amount of the transaction. Also, the purchasing party does not disclose the information on share holding distribution between UMMC and RCC.
The ARKLEY CAPITAL informed RusBusinessNews that the funds from the transaction will be used to implement strategic investment projects of the Pipeline Division of the ChTPZ Group, which includes the Chelyabinsk Tube Rolling Plant and Pervouralsk Novotrubny Plant (tube making plant). As a result of this transaction UMMC and RCC gained control over the Chelyabinsk plant and its enterprises producing raw materials in Kazakhstan and Great Britain.
In 2008, Chelyabinsk Zinc Plant manufactured 150 thousand tons of commercial zinc. The consolidated revenue of the enterprise in 2008 amounted to 9 973 million rubles, according to IFRS, and 10 million rubles, according to EBITDA.
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