EVRAZ to Expand Portland Tubular Operations (8233L)
August 05 2011 - 2:40AM
UK Regulatory
TIDMEVR
RNS Number : 8233L
Evraz Group S.A.
05 August 2011
EVRAZ to Expand Portland Tubular Operations to Supply
the Growing North American Energy Sector
5 August 2011 - EVRAZ Group (LSE: EVR) ("EVRAZ" or the
"Company") hereby announces plans to expand EVRAZ Inc. NA's
structural tubing facility in Portland, Oregon, to add capacity to
manufacture American Petroleum Institute certified (API) pipe. This
multi-million dollar investment will position EVRAZ to meet the
growing demand for oil country tubular goods (OCTG) products in the
energy sector.
The expansion is scheduled for completion by August 2012 and
will bring the mill's total capacity from 120,000 short tons up to
250,000 short tons of API pipe and structural squares, rounds and
rectangles. EVRAZ will supply steel for the API pipe from its
sister steel mill next door. The facility will continue to support
the structural tubing market in addition to the new OCTG product
line.
EVRAZ manufactures a comprehensive line of tubular products in
small and large diameters for exploration and transmission as well
as structural squares, rounds and rectangles. In addition to
Portland, EVRAZ operates pipemaking facilities in Regina,
Saskatchewan; Camrose, Calgary; Red Deer, Alberta; and Pueblo,
Colorado. The steel for EVRAZ tubular facilities is supplied by the
Company's steelmaking mills in Portland, Regina and Pueblo, this
vertical integration ensures product quality and integrity
throughout the entire manufacturing process.
"Energy exploration in the Bakkens region and western Canada is
rapidly expanding, and our customers are looking for more
high-quality heat-treated API pipe than we can supply from our
western Canadian mills, " said Mike Rehwinkel, President and CEO of
EVRAZ Inc. NA. "Our Portland facility is ideally suited to help
fill this need, both in terms of its geographic location as well as
the manufacturing expertise of our local team."
###
For further information:
Media contact: Oleg Kuzmin VP, Corporate Communications +7 495
937 6871 media@evraz.com
Investor contact: Alexander Boreyko Director, Investor Relations
+7 495 232 1370 ir@evraz.com
EVRAZ GROUP S.A. (EVRAZ) is a vertically-integrated steel,
mining and vanadium business with operations in the Russian
Federation, Ukraine, USA, Canada, Czech Republic, Italy and South
Africa. In 2010, the Company produced 16.3 million tonnes of crude
steel and sold 15.5 million tonnes of steel rolled products.
EVRAZ's internal consumption of iron ore and coking coal is covered
by its mining operations. EVRAZ's consolidated revenues for the
year ended 31 December 2010 were US$13,394 million and consolidated
adjusted EBITDA amounted to US$2,350 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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