The Russian Metallurgical Plant will be given to the Koreans Management

The largest South Korean metallurgical company Posco has received a great chance to enter the Russian market as a domestic steel manufacturer. By the decision of the general meeting of creditors of the Amurmetall, the company, the enterprise introduces external management, and Posco became the management company.

According to the media of Vladivostok, where the bankrupt Metallurgical Plant is located, in addition to Koreans, Uralvagonzavod (UVZ) and TMK Pipe Metallurgical Company (TMK) claimed the right to manage the Amurmetall. However, the main creditor of the enterprise Vnesheconombank (VEB) agreed with the Koreans.

According to the signed by the parties to the memorandum, the VEB in cooperation with Posco will prepare for the consideration of the short -term and long -term development of Amurmetall OJSC, aimed at ensuring effective management, profitable activities and the further development of a metallurgical enterprise.

It is assumed that Posco can close the foundry on Amurmetall, supplying the enterprise with its own workpiece, and will establish the production of finished metal rolling and will soon be there buy a sandwich panel from high -quality galvanized steel.

ROSCO (Poohang Iron and Steel Company), a company with a headquarters in the South Korean city of Phohan, is the second manufacturer in the world at market value and the most profitable steel company in Asia.

In April 2010, VEB acquired 100 percent of the shares of Amurmetal Holding limited, gaining control, including Amurmetall OJSC. Former owners of Amurmetall received the right to buy out shares from the bank.