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Russian Steel Consortium
The Consortium was founded on October 4, 2001, under an agreement between the open joint-stock company Novolipetsk Iron and Still Works and Yevraz-holding.
At the signing ceremony the Nizhny Tagil Iron and Steel Works (NTISW) was represented by the chairman of its board of directors Alexander Abramov, head of Yevraz-holding, which has the controlling block of NTISW shares. The Novolipetsk plant was represented by Vladimir Lisin, chairman of its board of directors.
The founders described Russian Steel as a "mild" holding because it did not presuppose crossholding and was designated as a non-commercial partnership.
Russian Steel's main objectives are designated as the development of rules of cooperation between partnership members and other iron and steel companies, other participants in the market, national and municipal bodies and the public.
The Supervisory Council includes Chairman of NTISW Board of Directors Alexander Abramov, its General Director S. Nosov, President of the International Union of Metallurgists S. Kolpakov and NLISW Commercial Director A. Petrosyan. Vladimir Lisin was appointed president of the partnership and chairman of the managerial committee.
The Belon open joint-stock company (Novosibirsk), one of Siberia's leading suppliers of metal and coal, joined the Consortium in November 2001.The company's managers felt this would open up new opportunities for the development of its main business chain - coal, metal, engineering.
In October 2001 Yevraz-holding and Novolipetsk Iron and Steel Works obtained the blocking stock of Kuzbassugol. The Novolipetsk plant, Yevraz-holding and Belon announced that they were merging their Kuzbassugol block of stock and creating a group of companies. The group's aggregate block of stocks amounted to some 44%. Belon is expected to represent the group's interests at Kuzbassugol. Besides, Belon transferred its blocks of stocks in 16 enterprises that were incorporated into Kuzbassugol. Traders owed blocking interest in nine of them.
Alexander Abramov, head of Yevraz-holding, says other enterprises controlled by Yevraz-holding will join the alliance later. They are the West-Siberia and Kuznetsk Metal Works, the Novosibirsk Metal Works, and a number of coal and ore-mining companies. Russian Steel is expected to produce more than 15 million tons of steel a year to become a leading player on the Russian market.
Vladimir Lisin -- President of the Partnership, Chairman of the Managerial Committee and Chairman of the Board of Directors of the Novolipetsk Iron and Steel Works.
Telephone: (095) 937-84-00 - the press service of the Moscow office of the Novolipetsk Iron and Steel Works.
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