Magnitogorsky Metallurgic Plant (MMK) acquired 12.77% in Belon, the company informed.
Thus, its share exceeded 95% which permitted to consolidate a large stake of Belon stocks and meet the majority of the bids on the buyback set out by the minority of the latter.
MMK (TIN 7414003633) is the largest metallurgic plant in Russia.
It is of the close-cycle production process. It has the largest assortment of metal products in Russia and CIS. In 2010 11.4mln ton of steel and 10.4mln ton of metal commodities were produced.
The IQ 2013-net profit increased 35.71% (IAS) to $19mln from $14mln prior year period; revenues declined 5.86% to come to $2.28bn from $2.425bn; operating profit - 33 fold to $1mln from $33mln; EBITDA - 12.63% to $256mln from $293mln; EBITDA margin coming to 11.2% from 12.1%.
The IH 2013 net losses gained 103mln rub. (RAS) vs. 4.379bn rub. in profit prior year. The revenues declined 6.5% to 116.133bn rub. from 124.205bn rub.; profit from sales - 41.63% to 6.58bn rub. from 11.273bn rub.; pretax
losses coming to 234mln rub. vs. 5.575bn rub. in profit.