EVRAZ plc (russian: Евраз) is a UK-incorporated
multinational steel manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to ...
and
mining
Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic ...
company part-owned by
Russian oligarch
Russian oligarchs ( Russian: олигархи, romanized: ''oligarkhi'') are business oligarchs of the former Soviet republics who rapidly accumulated wealth in the 1990s via the Russian privatisation that followed the dissolution of the Sovi ...
s. It has operations mainly in Russia as well as the USA, Canada, and Kazakhstan. As of 2015, the ultimate beneficial owners were Russian oligarchs
Roman Abramovich
Roman Arkadyevich Abramovich (, ; he, רומן ארקדיביץ' אברמוביץ'; born 24 October 1966) is a Russian oligarch and politician. He is the former owner of Chelsea, a Premier League football club in London, England, and is the ...
(31.03%), chairman
Alexander Abramov
Alexander Grigoryevich Abramov (russian: Александр Григорьевич Абрамов, born 1959) is a Russian businessperson, who until March 2022 was the Chairman of the Board of directors of Evraz, one of Russia's largest steel ...
(21.59%) and CEO
Aleksandr Frolov (10.78%) with the remaining 36.6% shares owned by other shareholders.
[
]
History
The company was founded as a small metal-trading business in 1992. On 2 June 2005 Evraz Group floated some 8.3 percent of its shares in the form of GDR in London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
.[EVRAZ Raises $422M in soft London IPO]
St Petersburg Times, 3 June 2005 The company was priced at $14.50 per GDR implying an equity value of $5.15 billion.[ An additional 6% stake was placed in January 2006, resulting in a total free-float of 14.3%.
The company acquired Claymont Steel from H.I.G. Capital in 2008 for million. The mill was closed in December 2013.
]
Sanctions
In the aftermath of the 2022 Russian invasion of Ukraine
On 24 February 2022, in a major escalation of the Russo-Ukrainian War, which began in 2014. The invasion has resulted in tens of thousands of deaths on both sides. It has caused Europe's largest refugee crisis since World War II. ...
, the British government accused the company of "providing financial services or making available funds, economic resources, goods or technology that could contribute to destabilising Ukraine." After sanctions were applied to Abramovich, owner of 29% of the company, the Financial Conduct Authority suspended the trading of Evraz shares on the London Stock Exchange. The non-executive members of the board subsequently resigned.
On 10 August 2022, Reuters reported that Evraz was seeking to sell its North American units.
Operations
Evraz sets aside its coal business by the end of the year 2021 on the premise of all needed approvals, according to the group's report of the 1st half of 2021. In the very beginning of 2021 EVRAZ announced expecting to spin off its coal division consolidated in Raspadskaya. In April 2021, the group's board of directors approved the demerger of its coal assets to be shared pro rata among Evraz shareholders. In January 2022, Evraz shareholders also approved the demerger of the group's coal business, consolidated at PJSC "Raspadskaya" after the final decision made by the board of directors of Evraz last December.
The business structure is as follows:Our business
Evraz
Steel
* Nizhny Tagil Iron and Steel Plant – NTMK – ''in Nizhny Tagil
Nizhny Tagil ( rus, Нижний Тагил, p=ˈnʲiʐnʲɪj tɐˈgʲil) is a city in Sverdlovsk Oblast, Russia, located east of the boundary between Asia and Europe. Population:
History
The prehistory of Nizhny Tagil dates back to the mid- ...
; major steel and vanadium slag producer''
*Novokuznetsk Iron and Steel Plant
Novokuznetsk Iron and Steel Plant (russian: Новокузнецкий металлургический комбинат) is a major Russian steel producer in the city of Novokuznetsk in Kemerovo Oblast in southwestern Siberia. The company's name i ...
– NKMK ''in Novokuznetsk
Novokuznetsk ( rus, Новокузнецк, p=nəvəkʊzˈnʲɛt͡sk; literally: "new smith's", cjs, Аба-тура, ''Aba-tura'') is a city in Kemerovo Oblast (Kuzbass) in south-western Siberia, Russia. It is the second largest city in the obla ...
; major steel producer; leading in railway steel'' (merged with EVRAZ ZSMK)
*EVRAZ Consolidated West-Siberian Metallurgical Plant (EVRAZ ZSMK) ''large steel producer in Siberia; merged with EVRAZ NKMK in 2011 (http://www.mbdatabase.com/Basic-Information/EVRAZ-ZSMK-Consolidated-West-Siberian-Metallurgical-Plant/20264/1)
*EVRAZ North America '' leading steel manufacturer built on the pedigree of successful steel companies – formerly known as Oregon Steel Mills
Evraz Oregon Steel Mills is a subsidiary of the Russia steel producer Evraz Group and has operations in Portland, Oregon, United States, and also with facilities in Colorado and Alberta. The company produces items such as structural tubing, pipe ...
, Rocky Mountain Steel and IPSCO. The company is headquartered in Chicago, Ill., and its six manufacturing facilities are located in Portland, Oregon
Portland (, ) is a port city in the Pacific Northwest and the list of cities in Oregon, largest city in the U.S. state of Oregon. Situated at the confluence of the Willamette River, Willamette and Columbia River, Columbia rivers, Portland is ...
; Regina, Saskatchewan
Regina () is the capital city of the Canadian province of Saskatchewan. The city is the second-largest in the province, after Saskatoon, and is a commercial centre for southern Saskatchewan. As of the 2021 census, Regina had a city populatio ...
; Pueblo, Colorado
Pueblo () is a home rule municipality that is the county seat and the most populous municipality of Pueblo County, Colorado, United States. The city population was 111,876 at the 2020 United States Census, making Pueblo the ninth most populo ...
; Calgary, Camrose and Red Deer, Alberta
Red Deer is a city in Alberta, Canada, located midway on the Calgary–Edmonton Corridor. Red Deer serves central Alberta, and key industries include health care, retail trade, construction, oil and gas, hospitality, manufacturing and education ...
.''
Ore
*Evrazruda ''mining and enrichment facilities in Kemerovo Oblast
Kemerovo Oblast — Kuzbass (russian: Ке́меровская о́бласть — Кузба́сс, translit=Kemerovskaya oblast — Kuzbass, ), also known simply as Kemerovo Oblast (russian: Ке́меровская о́бласть, label=non ...
''
** In the Kemerovo Oblast: Tashtagol Mine, Kaz Mine, Sheregesh Mine, Gurev Mine, Abagur Sinter and Enrichment Plant
*Kachkanarsky Ore Mining and Processing Enterprise – Vanady – KGOK ''pit mining in Sverdlovsk region
Sverdlovsk Oblast ( rus, Свердловская область, Sverdlovskaya oblast) is a federal subject (an oblast) of Russia located in the Ural Federal District. Its administrative center is the city of Yekaterinburg, formerly known as S ...
;''
*''Sukha Balka Mines, Kryvyi Rih
Kryvyi Rih ( uk, Криви́й Ріг , lit. "Curved Bend" or "Crooked Horn"), also known as Krivoy Rog (Russian: Кривой Рог) is the largest city in central Ukraine, the 7th most populous city in Ukraine and the 2nd largest by area. K ...
, Ukraine
Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inv ...
.''
Coal
*Yuzhkuzbassugol ''coking coal mining in the Kuzbass Region
Kemerovo Oblast — Kuzbass (russian: Ке́меровская о́бласть — Кузба́сс, translit=Kemerovskaya oblast — Kuzbass, ), also known simply as Kemerovo Oblast (russian: Ке́меровская о́бласть, label=non ...
''
* Raspadskaya/ ''coking coal company with three mines and one open pit in Mezhdurechensk, Kemerovo region, EVRAZ owns 82% of Raspadskaya''
Vanadium
*EVRAZ Vanady Tula
*EVRAZ Nikom
*EVRAZ East Metals AG
Sales and logistics
*Metallenergofinance MEF, ''supplying electricity and heat for Evraz facilities''
*Nakhodka Commercial Sea Port ''in the Russian Far East
The Russian Far East (russian: Дальний Восток России, r=Dal'niy Vostok Rossii, p=ˈdalʲnʲɪj vɐˈstok rɐˈsʲiɪ) is a region in Northeast Asia. It is the easternmost part of Russia and the Asian continent; and is admin ...
, handling most of Evraz' exports''
*Trading House EvrazHolding/TH EvrazHolding ''working in domestic sales''
*Trading House EvrazResource/TH EvrazResource ''working in domestic sales''
Corporate structure
The company's interests in the majority of its subsidiaries are held indirectly through its ownership of Mastercroft. In June 2006, Evraz Group announced a transaction that resulted in the transfer to Greenlease International Holding of a 50% interest in Lanebrook Ltd., an entity controlled by the principal shareholders of Evraz Group. As of April 2015 Lanebrook Ltd. held 63.70% of the company's shares, with the ultimate beneficial owners being Roman Abramovich
Roman Arkadyevich Abramovich (, ; he, רומן ארקדיביץ' אברמוביץ'; born 24 October 1966) is a Russian oligarch and politician. He is the former owner of Chelsea, a Premier League football club in London, England, and is the ...
(31.03%), chairman Alexander Abramov
Alexander Grigoryevich Abramov (russian: Александр Григорьевич Абрамов, born 1959) is a Russian businessperson, who until March 2022 was the Chairman of the Board of directors of Evraz, one of Russia's largest steel ...
(21.59%) and CEO Aleksandr Frolov (10.78%).
Carbon footprint
Evraz reported Total CO2e emissions (Direct + Indirect) for 31 December 2020 at 43,620 Kt (+280/+0.6% y-o-y).[Alt URL]
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See also
*List of steel producers
This is a list of the largest steel-producing companies in the world mostly based on the list by the World Steel Association. This list ranks steelmakers by volume of steel production in millions of tonnes and includes all steelmakers with product ...
References
External links
Official Website
{{Metallurgical Industry of Ukraine
Steel companies of Russia
Mining companies of Russia
Iron ore mining companies of the United Kingdom
Companies based in the City of London
Companies listed on the London Stock Exchange
Roman Abramovich