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Russian Aluminum

September 9, 2004

RUSAL signs with another international tenant for Industrial Park Siberia

Moscow, 13 September — RUSAL has announced that its Industrial Park Siberia programme has signed a tenancy agreement with UK-based Mechatherm International Ltd., furnishing furnaces and associated equipment to the metals industry. Mechatherm is about to start producing of alloying furnaces in Krasnoyarsk (Eastern Siberia). Mechatherm will organize production on Industrial Park Siberia premises jointly with Russian research-and-production center Magnetohydrodynamics, in accordance with the agreement on cooperation, signed by the two companies this week.

Mechatherm is a long-term supplier to RUSAL. Establishment of a manufacturing line in Russia will allow the company to reduce costs and make its equipment more competitive as well as to work more closely with RUSAL.

Industrial Park Siberia provides fully serviced industrial and other commercial premises in property formerly associated with RUSAL's smelters in Krasnoyarsk, Sayanogorsk, Novokuznetsk and Bratsk. The project also supplies tenants with registration, settlement and recruitment assistance, and is intended to attract international and domestic companies eager to position more competitively for the expanding Siberian market.

In its joint project with Magnetohydrodynamics, Mechatherm will contribute its technology and know-how while Magnetohydrodynamics will be responsible for equipment manufacturing. The British company will also be responsible for quality control. The first two furnaces with capacity of 100 MT will be accomplished in July 2005.

The new alloying furnaces will be installed at the casthouse at RUSAL's Krasnoyarsk smelter, currently undergoing upgrading. Upgrading of casthouse equipment is a part of a $270-million modernization program. At a later date, furnaces produced by Mechatherm and Magnetohydrodynamics will be supplied to all other RUSAL smelters.

Chris Emes, managing director and owner of Mechatherm, said, «Our cooperation will make doing business in Russia easier and it will help all participants of the project to increase their technical potential.»

The first company to set up operations at Industrial Park Siberia was Hencon (Netherlands), which opened its Krasnoyarsk subsidiary, Hencon-Siberia, in August. The subsidiary will be responsible for setting up the production and service maintenance of the processing equipment of RUSAL’s aluminium smelters.

«We are encouraging western companies and investors to come to our region,» said Dmitry Rit, the director of Industrial Park Siberia. He also said, «Currently, negotiations with five other companies are under way.»

 

For Russian Press

Vera Kurochkina
Elena Shanina
Press-center@rusal.ru

For International Press

Zhenia Harrison
zharrison@rusal.ru

 

 

 

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