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VTB contributes to modernization of metallurgical industry

26 April 2011

VTB Bank Krasnoyarsk Branch has completed a large investment project aimed at modernization of Krasnoyarsk Metallurgical Plant. Using VTB Bank international trade finance tools, the company purchased equipment worth over USD 4 million. On 21 April 2011, an opening ceremony of the new Sun Kyung Machinery press production facility (Korea) was held at the plant.

The new press facility will be two or three times more productive than the presses available at the KraMZ. New equipment will be used to produce architectural profiles from highly deformable alloys, profile casings, system profiles, profiles for radiators of heating systems and other profile types.

"It is the first large investment project for our company over the past decade. After its completion, the share of KraMZ in the Russian structural shapes market will increase up to 15%", said Anatoliy Nazarov, General Director of Krasnoyarsk Metallurgical Plant.

“VTB is a comprehensive bank offering a broad range of investment services, in particular for trade finance transactions. We hope this project will help the company take the step to the next brand new level”, said Alexey Muntyan, Senior Vice President of VTB Bank.

For reference:

Krasnoyarsk Metallurgical Plant is a part of En+Downstream company occupying the 3rd place among the Russian advanced aluminum processing plants in terms of production capacity. The plant’s production is exported to Germany, Italy, the USA, South Korea, Israel and Turkey.

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