Mechel had recently announced the signing of five-year contract for supplies of extra-size Bridgestone tires with Japan’s Marubeni Corporation during the 10th session of the Russia-Japan Inter-Government Commission on Trade and Economic Issues in Tokyo, Japan.
On the sidelines of the official visit of Russian Federation’s First Deputy Prime Minister Igor Shuvalov to Japan, Mechel Group’s enterprises — Yakutugol Holding Company OAO, Southern Kuzbass Coal Company OAO and Korshunov Mining Plant OAO — signed five-year contracts with Marubeni Corporation for the supply of Bridgestone-produced off-road tires for heavy duty dump trucks. The documents were signed in the presence of Mr. Shuvalov and Japanese Foreign Minister Koichiro Gemba. Mechel OAO’s Vice-President for Commercial Activities Mikhail Urvantsev and Chief Operations Officer of Marubeni Corporation’s Lifestyle Division Katsuhisa Yabe signed the contracts.
American car producer General Motors has refused to sell its automobile brands Opel and Vauxhall to consortium of Magna and Sberbank, as the buyers demanded the right of resale of these plants to the Russian state cars producer, The Times newspaper has reported today.
In its report British newspaper referring to the diplomatic correspondence has been published in WikiLeaks. It says that Canadian-Russian consortium has made 31 proposal of agreement correction after its signing.
Russian Helicopters is to raise up to $500 million via an IPO of 30% of its shares, $250 million of which will be newly issued shares and the other $250 million would be raised through the sale of some existing shares currently owned by Oboronprom.
The cash raised by the IPO process will be distributed the following way. $250 million of the cash is to be spent on debt refinancing and buying out minorities of subsidiaries under the obligatory buyout offer.
On November 11, truckmaker Kamaz delivered a 9M2010 RAS financial statement. The report shows 41% revenue growth y-o-y to USD 1.7 billion. Operating income amounted to USD 41 million, leaving a net loss at USD 20 million.
As the company carries out truck assembly through its head company, its RAS financials fairly adequately reflect the results of its core activities.
Plans by GAZ Group to assemble Volkswagen and Skoda automobiles on the Volga Siber assembly line were affirmed on October 20, as Vedomosti cited GAZ and Volkswagen sources as saying that the relevant talks were at an advanced stage and were scheduled to be completed before the year-end. The talks underway are about to assemble up to 150,000 automobiles a year and both companies’ spokespersons have confirmed the ongoing conversation.
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