In 1992, a team of Russian experts and engineers founded EvrazMetall, a company specializing in buying and selling steel products and solutions and providing uncooked elements and gear to Russian metal mills.
One particular of these researchers was Alexander Abramov, who was then just 33 decades old. The Krasnodar-born Abramov was a graduate of the prestigious Moscow Institute of Physics and Know-how and experienced expended the past 10 years heading the lab at the Joint Institute for Superior Temperatures.
Abramov Prospects an Acquisition Spree for EVRAZ
From 2001 and onwards, Abramov and his companions acquired a variety of attributes which would kind the foundation of EVRAZ’s immense wealth and world-wide arrive at.
In 2001 they acquired the Nizhny Tagil Iron and Metal Prepare and the West Siberian Iron and Metal Plant.
A yr afterwards, they obtained the Vysokogorsky Ore Mining and Processing Plant, and in 2003, it was the flip of the Novokuznetsk Iron and Steel Approach and the Nahhodka Professional Sea Port to sign up for the EVRAZ household.
In 2004 and 2005, EVRAZ obtained the Kachkanarsky Ore Mining and Processing Plant, the Evrazruda Iron Ore Processing Advanced and Palini and Bertoli in Italy.
EVRAZ Goes Public
In 2005, Abramov led EVRAZ to a public listing, when the group’s global depositary receipts started trading on the London Inventory Exchange.
This was a pivotal level in EVRAZ’s background, boosting more than $400 million for the corporation and positioning it firmly on the map as a world-wide steel powerhouse.
In 2006, EVRAZ acquired a 73% stake in the US-dependent Strategic Minerals Company, a single of the leading producers of vanadium alloys and chemicals for the metal, chemical and titanium industries.
A year afterwards, the business turned its notice to coal by getting one of the biggest coking coal producers in Russia, Yuzhkuzbassugol. In the same yr, the group obtained Oregon Steel Mills in the US, as properly as a stake in the Czech ferrovanadium producer, Nikom.
Abramov also led the acquisition of a range of belongings in South Africa and Ukraine.
2006 was also yet another turning issue for EVRAZ, when the organization sold a 41% stake to billionaire and proprietor of Chelsea Football Club, Roman Abramovich. Abramov and his companions gathered another $3 billion by that sale, creating them particularly rich.
With the proceeds of the sale in the EVRAZ stake, Abramov invested in other industries these types of as gold, forestry and cellular online companies.
In 2008, he returned as the chairman of the board of EVRAZ and underneath his leadership, the business ongoing to insert significant acquisitions to its portfolio.
In 2009, EVRAZ obtained a person of Russia’s major steel distribution networks, Carbofer Metall. A yr later on, it received a tender to acquire the Mezhegey coal deposit in the Russian republic of Tyva.
In 2011, EVRAZ obtained quality listing on the LSE and grew to become a constituent of the FTSE index.
These days, EVRAZ employs tens of thousands of people today from all around the globe. Significantly of its good results is many thanks to the foresight and vision of Alexander Abramov.