Press Room

Metalloinvest and Zagorsk Pipe Plant exploring partnership for development of Ural Steel

31 January 2020

Metalloinvest and Zagorsk Pipe Plant (ZTZ) announced that they are holding discussions regarding a strategic partnership between the two companies for the development of Ural Steel, as well as regarding ZTZ becoming a shareholder in Ural Steel.

The conclusion of a deal depends on the successful completion of negotiations, on the procedure for auditing the financial and economic activities of Ural Steel, the signing of legally-binding documentation and obtaining the necessary regulatory approvals.

Andrey Varichev, CEO of Management Company Metalloinvest, commented: Were aiming to develop Ural Steel together with our partner ZTZ. This will create synergies and additional value for all parties. Ural Steel will have a new motivation for development and increasing production efficiency.

Denis Safin, CEO of Zagorsk Pipe Plant, said: We see synergies in developing a partnership with Metalloinvest, which for us has always been a reliable sheet supplier. Moreover, collaboration on Ural Steel will enable us to become more competitive and allow us to diversify our operations.

Anton Troshin

Anton Troshin

Corporate Communications Director
E-mail: pr@metalloinvest.com
Tel.: +7 (495) 981-55-55

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