September 07, 2008

Evraz owns 100% of its major Russian production companies

Evraz Group SA announced that Evraz Group through its subsidiaries has completed the buyout of all outstanding common stock of steel mills NTMK and Zapsib, iron ore mining and processing complexes KGOK and VGOK, and the Nakhodka Commercial Sea Port. As a result of the buyout, Zapsib, NTMK, KGOK, VGOK and NMTP have become Evraz’s wholly owned subsidiaries.

The procedure was carried out in accordance with the Russian legislation through mandatory offers to all minority shareholders of the respective Russian companies.

Mr Alexander Frolov chairman & CEO of Evraz said that “Successful completion of the buyout is an important step in simplification and optimisation of Evraz’s ownership and management structures allowing to effectively align all the business processes and strategic management decisions within the group. The way the buyout process was organized and carried out has demonstrated the Company’s commitment to international best practices in corporate governance.”