Showing posts with label Highveld. Show all posts
Showing posts with label Highveld. Show all posts
Monday, July 16, 2007
Monday, June 4, 2007
Russia's Evraz offers to buy rest of Highveld
(Reuters) - Evraz Group, Russia's largest steel maker by domestic volume, has offered to buy all the shares in South Africa's Highveld Steel and Vanadium Corp it does not already own.
Evraz, which owns 54.1 percent of Highveld, said on Monday it was offering $11.4 per share, 31 percent more than the price it paid to Anglo American Plc for its current stake.
Read more at Reuters Africa
Evraz, which owns 54.1 percent of Highveld, said on Monday it was offering $11.4 per share, 31 percent more than the price it paid to Anglo American Plc for its current stake.
Read more at Reuters Africa
Tuesday, February 6, 2007
Highveld FY headline EPS down 39 pct
South Africa's Highveld Steel and Vanadium Corp. Ltd. 2006 diluted headline earnings per share fell 39 percent to 10.49 rand, the firm said on Tuesday.
The group, the world's top vanadium producer, said headline earnings were 1.04 billion rand in the year to end-December, down from 1.72 billion rand.
Headline EPS is the key profit measure for South African firms and excludes non-trading, capital and certain extraordinary items.
Highveld said in November it expected headline EPS to fall 34-46 percent to between 933 South African cents and 1,133 cents, due to weaker demand for vanadium -- partly as a result of substitution.
Shares in Highveld rose 2.94 percent to 78.90 rand by 1350 GMT, outperforming the JSE Securities Exchange's mid-cap index which was flat.
Highveld said it expected a similar financial performance in 2007 than in 2006.
In 2005, Highveld's diluted headline EPS of 1,721.90 cents was more than double the figure of 2004 due to strong prices for the steel-hardening element vanadium, which is used in oil pipes.
Read more at Reuters South Africa
The group, the world's top vanadium producer, said headline earnings were 1.04 billion rand in the year to end-December, down from 1.72 billion rand.
Headline EPS is the key profit measure for South African firms and excludes non-trading, capital and certain extraordinary items.
Highveld said in November it expected headline EPS to fall 34-46 percent to between 933 South African cents and 1,133 cents, due to weaker demand for vanadium -- partly as a result of substitution.
Shares in Highveld rose 2.94 percent to 78.90 rand by 1350 GMT, outperforming the JSE Securities Exchange's mid-cap index which was flat.
Highveld said it expected a similar financial performance in 2007 than in 2006.
In 2005, Highveld's diluted headline EPS of 1,721.90 cents was more than double the figure of 2004 due to strong prices for the steel-hardening element vanadium, which is used in oil pipes.
Read more at Reuters South Africa
Friday, February 2, 2007
EU extends Evraz deal review, vanadium at issue
The European Commission extended on Friday its review of Evraz Group's plans to buy rival steelmaker Highveld, because of potential competition problems in the market for the steel-hardening element vanadium.
The deadline on the $678 million acquisition of the South African firm by Russia's Evraz was moved to February 20 from February 6.
That will allow rivals and customers to comment on proposals by Evraz designed to address potential competitive problems centring on vanadium, used among other things to create high-quality stainless steel.
The two companies are only a blip on the world steel market, but the ore they mine contains relatively high concentrations of vanadium.
Read more at Reuters South Africa
The deadline on the $678 million acquisition of the South African firm by Russia's Evraz was moved to February 20 from February 6.
That will allow rivals and customers to comment on proposals by Evraz designed to address potential competitive problems centring on vanadium, used among other things to create high-quality stainless steel.
The two companies are only a blip on the world steel market, but the ore they mine contains relatively high concentrations of vanadium.
Read more at Reuters South Africa
Wednesday, January 31, 2007
Corus deal buoys S.Africa's Mittal, Highveld shares
Shares in South Africa's Mittal Steel SA, a unit of the world's top steel group, jumped 6 percent on Wednesday to a fresh peak, buoyed by fresh consolidation in the global steel sector, traders said.
Shares in Mittal SA, majority-owned by Arcelor Mittal, traded 5.4 percent up at 109.62 rand, leading the blue chip Top-40 index, which lost 0.37 percent at 1303 GMT.
Read Full Article at Reuters South Africa
Shares in Mittal SA, majority-owned by Arcelor Mittal, traded 5.4 percent up at 109.62 rand, leading the blue chip Top-40 index, which lost 0.37 percent at 1303 GMT.
Read Full Article at Reuters South Africa
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