• Russia’s largest steel companies have announced investment cuts

    Russia’s largest steel companies have announced investment cuts

    The largest steel companies – “Severstal” Alexei Mardashov, MMK Viktor Rashnikov and NLMK Vladimir Lisin, which together provide 56% of Russian steel production – made a report on the results of the first quarter. The financial performance of companies grew or decreased slightly compared to the IV quarter of last year, but fell year on year. Thus, NLMK’s revenue for the first quarter of this year amounted to $ 2.5 billion. This is 6 percent more than in the previous quarter, but 14 percent lower than a year earlier. The company’s EBITDA was $ 594 million (24% quarterly, -15% year-on-year).

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  • VTB sold almost half of the grain business

    VTB sold almost half of the grain business

    Demeter Holding, which unites VTB Group’s grain assets, has attracted new shareholders, the banking group said. JSC “Agronov” and Marathon Group as a result of the transaction received 25% and 24.99% of the grain company, respectively. “VTB remains the controlling owner of Demeter Holding with a stake of more than 50%,” the statement said. RBC was the first to report on the deal. The parties do not disclose the amount and terms of the deal. Transactions on joining the holding’s capital were in cash and closed in April 2020, the press service of the VTB said. The further development of

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  • Fishermen asked Narusov to assess the reform of the crab market

    Fishermen asked Narusov to assess the reform of the crab market

    Three Far Eastern associations of fisheries enterprises asked Ludmila Narusova, a member of the Federation Council from the Republic of Tuva, to assess the impact on the industry of crab auctions, which took place in 2019. The letter was signed by Maxim Kozlov, President of the Sakhalin Region Fisheries Association, Georgy Martynov, President of the Primorye Fisheries Association, and Sergei Rabchenko, President of the Khabarovsk Krai Fisheries Association. Martynau confirmed the sending of the letter to the senator. Rabchanka declined to comment, and Kozlou did not answer calls. Narusova received an appeal from fishermen, she told Vedomosti. Russian President Vladimir

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  • The Ministry of Agriculture recommended that traders sell grain on the domestic market

    The Ministry of Agriculture recommended that traders sell grain on the domestic market

    Traders can sell grain on the domestic market or the markets of the Eurasian Economic Union (EAEU; in addition to Russia, it includes Armenia, Belarus, Kazakhstan and Kyrgyzstan), the Ministry of Agriculture said: grain is in demand from processors. On April 28, the support organization of small and medium enterprises “Support of Russia” appealed to the First Deputy Head of the Federal Customs Service of Russia Ruslan Davydov and Minister of Agriculture Dmitry Patrushev in connection with the unfavorable situation with non-tariff quota for grain exports. “Vedomosti” got acquainted with both letters, their authenticity was confirmed by the president of

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  • Yuzhuralzolata will build a $ 250 million concentrator

    Yuzhuralzolata will build a $ 250 million concentrator

    Konstantin Strukov’s Yuzhuralzolata will build a mining and processing plant at the Yuzhny Kurasan and Zapadny Kurasan fields in the Chelyabinsk region, a company representative told Vedomosti. GAK with a capacity of 4 million tons of ore per year will cost $ 250 million and will set up production of 3.5-4 tons of gold annually. The construction of the new plant is scheduled to be completed in January 2022. The company is scheduled to reach the project capacity in 2026. The project will be financed from the company’s own funds, the interlocutor said. The company does not disclose the total

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  • Who will earn on the treatment of Russians from coronavirus

    Who will earn on the treatment of Russians from coronavirus

    Not everyone had time to buy the substance This year the Russian pharmaceutical market is divided into two camps, says the manager of a major pharmaceutical manufacturer. Some managed to stock up on Chinese substances in January-February, others did not.About 70% of the Russian pharmaceutical market is based on Chinese substances – they are the cheapest, another 20% – are Indian raw materials, the rest are imported from Europe, mainly France, Germany and Spain, says Klykov of the “Farm Center”. In four plants of Alium Group, half of the total supply of substances is imported from China, another third –

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  • The Sobchak-related crab company is on the list of system-forming ones

    The Sobchak-related crab company is on the list of system-forming ones

    In the updated list of system-forming companies there are more representatives of the fishing industry: not four, as initially decided by the Ministry of Agriculture, and 10. This is stated in the materials of the Ministry of Economic Development. Among these ten is the Maneron company, a major crab producer in Russia. It has recently become known about the new owners of the company: on March 12, TV presenter and former Russian presidential candidate Ksenia Sobchak agreed to acquire a 40% stake in two companies – “Maneron” and “Kuril Universal Complex”. Elena Soglaeva, the wife of former top manager of

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  • Russian Steel complains about Russian Railways’ restrictions on supplies to the east

    Russian Steel complains about Russian Railways’ restrictions on supplies to the east

    The Russian Steel Association (uniting Russia’s largest steel companies), the governors of two regions – Murmansk Andrei Chibis and Kursk Roman Starovoitov – appealed to First Deputy Prime Minister Andrei Belavusov to ensure non-discriminatory access to railway infrastructure for export. Three letters were sent by them in April. “Vedomosti” got acquainted with copies of documents. The authenticity of the letter of “Russian Steel” was confirmed by the interlocutors of “Vedomosti” in three companies that are members of the association. Two people in the companies are familiar with the contents of the letter of the governor of the Kursk region. A

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  • The largest soybean processor has warned of the risk of uncontrolled GMO imports

    The largest soybean processor has warned of the risk of uncontrolled GMO imports

    Russia’s largest soybean processor, the Commonwealth Group, has addressed the governor of the Kaliningrad region, Anton Alikhanov. The group asks to initiate the suspension of the decree of the Russian government, which simplifies the import of genetically modified soybeans and products of their processing. “Vedomosti” read the appeal. Alexander Shenderyuk-Zhidkov, director of the Commonwealth management company, confirmed its authenticity, and Alikhanov’s representative confirmed the receipt of the letter. According to him, the governor supports the proposal and will address the government soon. On April 16, Russian Prime Minister Mikhail Mishustin revoked the state registration of genetically modified soybeans and meal

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  • The Ministry of Industry and Trade is asking businesses to help test drug labels

    The Ministry of Industry and Trade is asking businesses to help test drug labels

    Russia’s Ministry of Industry and Trade has asked domestic and foreign pharmaceutical companies to fill the market with labeled drugs without waiting for an official deadline. He also ordered them to report by the end of April on the degree of readiness to work with the new control system. Two letters with this content were sent on April 14 on behalf of the First Deputy Minister of Industry Sergei Tsyba. The addressees of the first – 452 pharmaceutical manufacturers, the second – 74. “Vedomosti” read copies of the letters. Their authenticity was confirmed by representatives of Pfizer and Evalar. Representatives

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  • Mechel has sold its largest asset

    Mechel has sold its largest asset

    “Mechel” Igor Zyuzin completed the sale of Elgin coal project (reserves are estimated at 2.2 billion tons of coke) and agreed with state banks to extend the maturity of the principal debt on loans for 10 years, said on April 22 “Mechel”, “A -properties “and Gazprombank. Elga is the largest coal coke deposit in Yakutia. Mechel has been developing the field and building infrastructure for it for more than 10 years. The company has already spent over $ 2 billion. The project is being implemented by three companies: Elga Road, Mechel Trans East and Elgavugal. In each of them, “Mechel”

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  • The Ministry of Agriculture has compiled a list of system-forming farmers

    The Ministry of Agriculture has compiled a list of system-forming farmers

    The Ministry of Agriculture has published a list of system-forming enterprises from 66 companies. Of these, 14 specialize in crop production, 27 – in animal husbandry, 20 producers of food and beverages, as well as four fish companies. In late March, the government tripled the number of system-forming companies to 646, but then decided to refine the selection criteria, and now the lists are made separately by the relevant departments. Systemic companies will be given soft loans to replenish working capital, Russian President Vladimir Putin said in mid-April. The rate on such loans will be subsidized by the state in

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  • Product manufacturers are asking the government for a moratorium on discounts in stores

    Product manufacturers are asking the government for a moratorium on discounts in stores

    Several associations, which include agricultural enterprises and producers of food and beverages, have written a collective letter to Russian Prime Minister Mikhail Mishustin asking for additional support. Representatives of Soyuzmalok, the Union of Producers of Soft Drinks and Mineral Waters, the National Union of Poultry Farmers, and the Union of Sugar have read a copy of the appeal. The government’s press service declined to comment on official correspondence. Some of the proposals concern the relationship with retail chains. One of the proposals is to introduce a moratorium on promotions, sale of goods at a discount. Universal promotions serve to attract

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  • The assets of two large Russian crab companies have been seized

    The assets of two large Russian crab companies have been seized

    On March 30, the South Sakhalin City Court seized shares in three companies – Maneron, Kuril Universal Complex and Primorsky Fishing Company, as well as cars, apartments, fishing vessels and non-residential premises belonging to them. “Maneron” and “Kuril Universal Complex” are one of the largest crab miners in Russia. In total, they have quotas for catching more than 9,000 tons of crabs in the Far East. “Vedomosti” got acquainted with a copy of the court ruling on the arrest. A person close to the court confirmed the existence of such a document, and a court representative did not respond to

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  • VSMPO-Avisma will reduce titanium production by a third

    VSMPO-Avisma will reduce titanium production by a third

    The world’s largest titanium producer, VSMPO-Avisma, will cut production by about a third this year due to a sharp drop in demand for its products. The production plan for 2020 has been reduced from 39,000 to 26,500 tons of marketable titanium products, the company said. “Our main consumers have virtually stopped production in the last two months,” the VSMPO-Avisma press release said. VSMPO-Avisma occupies 25% of the world titanium market. According to the BCS, 90 percent of global consumption of this metal is accounted for by the aerospace industry. VSMPO-Avisma is the main supplier of all major manufacturers of this

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  • Sugar producers will be able to unite for supplies abroad

    Sugar producers will be able to unite for supplies abroad

    The government has approved a draft decree that allows for the creation of producer associations for sugar exports. This was told to “Vedomosti” by a person involved in the discussion of the project, and confirmed by a federal official. Deputy Prime Minister Victoria Abramchenko, who oversees agriculture, has indeed agreed on the project, her spokeswoman said. The press service of the government did not answer the questions of “Vedomosti”. The project was developed by the Federal Antimonopoly Service (FAS). Former Prime Minister Dmitry Medvedev also instructed the Ministry of Agriculture to create such a mechanism. The goal is to enable

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  • Coffee beans have risen sharply due to panic demand

    Coffee beans have risen sharply due to panic demand

    Futures on coffee beans have risen sharply in recent times. This was due to the fact that importers and consumers began to stock up on coffee for fear of supply disruptions due to the coronavirus pandemic. However, the surge in demand may be short-lived, and the market situation remains uncertain. Initially, an outbreak of coronavirus provoked a drop in coffee prices in January as cafes and offices in China began to close for quarantine. By the beginning of February, quotations in the futures market fell by more than 20% compared to the beginning of the year to $ 1 per

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  • The Ministry of Energy did not support the introduction of quotas for the transportation of coal by rail

    The Ministry of Energy did not support the introduction of quotas for the transportation of coal by rail

    Russia’s Ministry of Energy does not support the proposal to introduce quotas for coal transportation by rail in the eastern direction, according to a letter from Energy Minister Alexander Novak sent to First Deputy Prime Minister Andrei Belavusov on April 7. “Vedomosti” got acquainted with the contents of the letter, its authenticity was confirmed by an interlocutor in a large transport operator and a top manager of one of the coal companies. The current legislation does not provide for the introduction of quotas for the transportation of coal by rail, said in a letter to Novak. As a measure of

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  • Food manufacturers have dramatically increased sales directly to consumers

    Food manufacturers have dramatically increased sales directly to consumers

    Due to the coronavirus and the restrictive measures associated with it, product manufacturers have dramatically increased online sales to the end consumer, bypassing store shelves, said respondents to the “Vedomosti” company. Many producers are now in a difficult situation, says Armen Benjamin, vice president of the Clean Line Group (which produces ice cream and dairy products). The growth in demand for online shopping may partially offset the decline in other sales channels (malls, kiosks, etc.), he noted. “Clean Line” has already increased the fleet of vehicles for courier delivery of online purchases more than 3 times – up to 700,

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  • “30% of businesses cease to exist.”  Leaders of large companies discussed the future after the coronavirus

    “30% of businesses cease to exist.” Leaders of large companies discussed the future after the coronavirus

    Leaders of major Russian companies – Dmitry Konov, Chairman of the Board of Sibur, Maxim Akimov, General Director of the Russian Post, Andrei Ellinson, Managing Partner of A1, and Roman Tratsenko, Owner of AEON Corporation – held an online summit “Business after the Pandemic”. The discussion was moderated by Andrei Guryev, co-chairman of the Coordination Council for Counteracting Coronavirus Infection of the RSPP, Director General of Phosagro. Epidemic threats The fight against the coronavirus may be delayed, Tratsenko predicts. The peak of the epidemic will be in June – July. There will be a second wave of diseases. “The whole

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  • The pipe metallurgical company will be listed on the London Stock Exchange

    The pipe metallurgical company will be listed on the London Stock Exchange

    Russia’s largest producer of pipes for the oil and gas industry, the Pipe Metallurgical Company (TMK), will buy back its shares from the market and abandon its listing on the London Stock Exchange (LSE). The decision was made by the company’s board of directors, TMK reported. The listing on the London Stock Exchange “is no longer a strategic priority for the company,” TMK said in a statement. Withdrawal from the LSE is scheduled for July, it will take place after the completion of the program of voluntary acquisition of ordinary shares 100% “daughter” of TMK – Volga Pipe Plant. The

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  • Russian water utilities have asked the government for support

    Russian water utilities have asked the government for support

    The Russian Association of Water Supply and Sewerage (RAVV, which unites 80% of the industry), private operators Rosvodokanal and RKS have asked the government for subsidies to compensate for lost income due to reduced consumption and losses due to rising defaults. premiere of Mishustin on April 7. The document is published on the RAVB website. The proliferation of coronavirus and related restrictions have led to rising water costs, the letter said. At the same time, the collection of payments has decreased over the last week from 95-96% to 15-20%, says the executive director of the police department Elena Davlatova. The

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  • Zyuzin’s daughter reduces her stake in Mechel

    Zyuzin’s daughter reduces her stake in Mechel

    The daughter of the founder of “Mechel” Igor Zyuzin – Xenia – has reduced its stake in ordinary shares of the company from 7.88 to 2.95%, said “Mechel”. The deal was made on April 6. The seller was Bonoro Limited, a company controlled by Zyuzina. Now the share of direct and indirect ownership of Zyuzin and his family members in the company – 50.2%, according to the materials. A representative of the company did not comment on the actions of shareholders. The buyer of the shares and the amount of the transaction are not disclosed. On April 6, the company’s

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  • “Narnikel” has increased payments to shareholders

    “Narnikel” has increased payments to shareholders

    The Board of Directors of “Narnikel” offered to pay dividends in the amount of 557.2 rubles. per share for 2019, the company said. That is, total shareholders will receive about $ 1, 2 billion (at the rate of the Central Bank on April 7). Taking into account the interim dividends ($ 3.6 billion), the company will send a total of $ 4.8 billion in 2019. This is 30% more than in 2018. Narnikel’s dividend policy assumes the payment of 60% of EBITDA, if the debt burden is below 1, 8, if it reaches 2, 2, the shareholders own 30% of

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  • Sunflower exporters reported a collapse in the market

    Sunflower exporters reported a collapse in the market

    Rosselkhoznadzor has not issued phytosanitary certificates for sunflower and soybean exports for 7-8 days, representatives of four traders told Vedomosti. Earlier, the director of Sovekon Andrei Sizov said that the service had stopped issuing these documents. Now only in the Rostov region there are loaded ships that are ready to send about 30,000 tons of sunflower, they say. On March 31, the Board of the Eurasian Economic Commission (EEC) decided to temporarily ban the export of certain types of foodstuffs from the Eurasian Economic Union. Among them are sunflower and soybeans. The ban was previously advocated by the Oil and

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  • UC Rusal will sign a new giant contract with Glencore

    UC Rusal will sign a new giant contract with Glencore

    One of the world’s largest aluminum producers UC Rusal, formerly controlled by Oleg Deripaska, plans to sign another long-term contract with Swiss trader Glencore. We are talking about the supply of 6873,000 tons of aluminum in 2020-2024, the company said. The estimated amount of the contract is $ 16.3 billion. The agreement provides the company with significant sales of aluminum at market price, said a spokesman for UC Rusal. “This will allow us to better manage our portfolio of value-added products and investments, as well as expand the geography of supply and the number of customers,” he added. The contract

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  • The top manager of “Systems” has invested in an agro-technological startup

    The top manager of “Systems” has invested in an agro-technological startup

    Inter has completed the first round of investments, its founders Vitaly Buza and Alexander Mikhailov told Vedomosti. Inter is developing and implementing digital services for crop management. The company’s main customers are producers of plant protection products (PPPs), seeds and fertilizers, which manage sales and advise agricultural customers through SkyScout’s digital service. The system now contains data on about 4 million hectares of land in Russia. Investments, according to Buz and Mikhailov, could reach $ 10 million, the amount will depend on the dynamics of the company and its needs for money in the next two years, they explained. $

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