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VTB to finance UMMC plants

 
27 November 2012

VTB to finance UMMC plants.

As part of its cooperation with the Urals’ leading metallurgical companies, VTB Bank has issued a RUB 1.8 billion five year loan to Sredneuralsk Copper Smelter, allowing the company to refinance its current liabilities.

In addition, VTB has granted a RUB 100 million loan to Anatoly Serov Metallurgical Plant for covering operational costs and for refinancing an existing bank loan.

Both plants are affiliated to the Ural Mining and Metallurgical Company (UMMC), a key player in this sector of Russian industry.

«VTB Bank has been a strategic partner of the UMMC Group for nearly 10 years. The recent loan agreements are another step forward in our relations, and we intend to offer the group a greater volume of financing and a wider range of banking facilities, from cash management services to foreign exchange and documentary operations.»
Yuri Soloviev,
First Deputy President and Chairman of the Management Board

For reference:

Sredneuralsk Copper Smelter is the Urals’ leading producer of copper from primary raw material, processing waste gases into sulphuric acid and potassium butyl xanthate. Part of the UMMC Group since 2000.

Anatoly Serov Metallurgical Plant is part of the UMMC’s branch of ferrous metallurgy, the main subsidiary of the UMMC-Steel managing company. The plant produces nearly 400 grades of high quality rolled steel, ranking second among Russian suppliers of gauged steel bars, and one of top ten producers of profiled construction steel.


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