OJSC “Raspadskaya” informs about the signing of a long-term contract with the Hyundai Steel Company on the supply of coal products with a gradual increase of the annual volumes up to 300 000 tons linking to an international price forming system. Earlier there was signed a memorandum of intentions between Raspadskaya and Hyundai Steel Company.
CEO of CJSC “Raspadskaya Coal Company” G.Kozovoi noted: “A signing of a 5-year contract confirms an intention of the companies to develop long-term cooperation in coal products supply sector.”
The ceremony of signing a 5-year contract took place on March 5, 2013 in Minenergo, Russia with the participation of a deputy Minister of Energy of the Russian Federation, A.Yanovsky and the head of coal and peat industry department of the Ministry of Energy of Russia C.Alekseev.
Severstal has prolonged the long-term contract with HYUNDAI-KIA. The new contract for rolled steel supplies made by Cherepovets metal works, a subsidiary of Severstal Russian Steel to Hyundai, assembling cars at the plant Hyundai Motor Manufacturing Rus Ltd in St. Petersburg, is active till the end of 2012. In 2012, Cherepovets metal works is going to supply 15,000 tons of car steel plates for HYUNDAI-KIA, by 2 times more than in 2011 Read more »
Severstal will deliver over 2 thousand tons of rolled metal products to Hyundai in August-September 2011.
The increase of supplies is particularly due to the positive results of trial presswork of the faceplate of the top of Hyundai Solaris from cold-rolled stock of the Cherepovetsk Iron-and-Steel works (part of Severstal Russian Steel division).