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CHEMK can become a monopoly market of ferroalloys in Russia

Recently, the Board of Directors of OJSC «Chelyabinsk Electric Works» (CEMP) shall decide on the acquisition of «Serov Ferroalloy Plant», now owned by «Eurasian Natural Resources Corporation» the Kazakh financial group (of ENRC) and its affiliated entities. This acquisition can make CHEMK monopoly ferroalloy market in Russia. According to analysts, the asset of ENRC put up for sale in order to reduce the amount of their debts to date exceeding 5 billion. Dollars.

Meanwhile, officials say the company «Eurasian Natural Resources Corporation», the decision to sell the plant they were made for a variety of reasons, among which the main — high electricity tariffs and a reluctance to invest in the modernization of the «alien» asset. «Firstly, the electrical energy for the plant, located in the Urals, is two times more than the cost of Kazakh enterprises at home. Second, the leadership of the corporation plans to start operation of a new ferroalloy plant in Aktobe region (western Kazakhstan), which compensates for the loss in output caused by the withdrawal of assets from certain objects with outdated facilities «- commented on the upcoming deal in ENRC.

We know that now of «Serov Ferroalloy Plant» is estimated at 12 billion. Rubles. Also previously reported that OAO «Chelyabinsk Electric Works» plans to buy 99.61% of the securities portfolio. The decision on the change of the owner of the plant is not hasty: According to representatives of the parties of the deal, negotiations on the contract are carried out for at least six months.

Recall that the JSC «Serov Ferroalloy Plant» today is engaged in production of chromium ferroalloys. In 2011−2012 the company produced about 300 thousand. Tons of products in this category per year, accounting for about 20% of Russia's total output.

Following the acquisition of a new asset, the market share of ferroalloys Russian JSC «Chelyabinsk Electric Works» will exceed 90% (currently the figure is 70%). The remaining 10% are distributed today between JSC «Kamyshin Casting and Smelting Plant» and the joint-stock company «Klyuchevskii Ferroalloy Plant», included in the financial group «MidYural». In connection with the distribution of market shares for the transaction CHEMK have to seek permission from the Federal Antimonopoly Service.

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