Business in Brief
- By Unknown
- Sep. 10 2008 00:00
Oerlikon in Nanotech Deal
Oerlikon, a Swiss industrial technology company part-owned by billionaire Viktor Vekselberg, said Tuesday that it would sign a "strategic cooperation" accord with the State Nanotechnology Corporation.
Oerlikon chairman Vladimir Kuznetsov and Leonid Melamed, chief executive of Russia's state nanotechnology holding, will sign an agreement to cooperate on a "wide array" of areas on Thursday, the companies said in a joint statement. (Bloomberg)
Raspadskaya Fine: $3.9M
Raspadskaya, the country's second-largest producer of coking coal, will be fined about 100 million rubles ($3.9 million) for breaking competition rules, Federal Anti-Monopoly Service chief Igor Artemyev said, Interfax reported Tuesday.
The company probably will not be asked to lower prices for coking coal because it already did so voluntarily, Artemyev said. (Bloomberg)
TNK-BP Float Before '10
TNK-BP will hold an IPO before 2010, billionaire shareholder Viktor Vekselberg said Tuesday, Interfax reported.
The share sale, part of a solution to a dispute between BP and its billionaire partners, requires "a lot of work," Vekselberg said. (Bloomberg)
IES Generator Share Sales
ST. PETERSBURG -- Billionaire Viktor Vekselberg's power holding, Integrated Energy Systems, may sell shares in three of its four power generating companies next year, Interfax reported Tuesday.
IES needs additional funds to finance the spending plans of TGK-5, TGK-6 and TGK-9, IES spokeswoman Nadezhda Rukina said, the news service reported. IES may also sell its shares in an IPO in 2010 after it completes changes to the company's management structure, she said. (Bloomberg)
Gazprom Falls on Fine
Gazprom fell to the lowest in 20 months in Moscow after oil prices fell and regulators said the company would be fined for limiting access to its transportation network.
Gazprom had "no economic or technical basis" for denying pipeline access to Trans Nafta in Tatarstan, the Federal Anti-Monopoly Service said late Monday. The fine can be as much as 15 percent of Gazprom's annual revenue in "the corresponding market," the service said. UniCredit estimated that the fine may be as much as $250 million. (Bloomberg)
Banks Borrow Mere $1.4Bln
Russian banks borrowed 36.5 billion rubles ($1.4 billion) in unspent budget funds Tuesday, less than the 160 billion rubles offered at an auction aimed at supporting liquidity.
Banks borrowed the one-week funds at an average interest rate of 7.84 percent, the Finance Ministry said. (Bloomberg)
For the Record
LUKoil said Tuesday that it opened a new unit at a Nizhny Novgorod processing plant as it boosts production of high-value oil products. (Bloomberg)
Severstal may build a mill in Belarus, Prime Minister Sergei Sidorsky said Tuesday. (Bloomberg)
Mechel said Tuesday that it would build a $500 million Pacific terminal in Vanino to ship Asian exports from its Siberian coalfields. (Bloomberg)