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EVRAZ Agrees to Sell 34% of Shares in Highveld = To Macrovest for US$27 Million

Friday, August 22, 2014
Source:ferro-alloys.com

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Keywords:FeV ferrovanadium vanadium pent oxide vanadium nitrogen alloy

[Fellow]EVRAZ plc, a major steel company in Russia has recently announced that it concluded an agreement to sell 34% of issued shares in EVRAZ Highveld Steel and Vanadium Ltd., South Africa. EVRAZ itself still has a 51% shareholding.

EVRAZ plc, a major steel company in Russia has recently announced that it concluded an agreement to sell 34% of issued shares in EVRAZ Highveld Steel and Vanadium Ltd., South Africa. EVRAZ itself still has a 51% shareholding.

The party to whom the shares were sold is Macrovest 147 Proprietary Limited, and the sellout amount is US$27 million (= ZAR289 million). Macrovest will bear 50% of the operating capital provided by EVRAZ.

Highveld produced 176,000 tons of plate, 129,000 tons of coil, 197,000 tons of sections and 49,000 tons of vanadium slag in the year 2013.

[Editor:Mango]

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