OREANDA-NEWS. October 7, 2011. The Bank of Moscow has entered into a facility agreement with Chelyabinsk Tube Rolling Mill OJSC to open a credit line with the aim of replenishing its current assets with the draw limit being 15 bln RUR.

The term of the facility agreement and the loan maturity time is 1 October 2014.

Information

Chelyabinsk Tube Rolling Mills (CTRM) is one of the major industrial groups of Russia’s metallurgic complex. On the basis of the 2010 results the company’s share in the aggregate shipments of the Russian manufacturers’ amounts to 16.3%. CTRM incorporates the following enterprises and companies operating in the sphere of the iron industry -Chelyabinsk Tube Rolling Mills OJSC, Pervouralsky Novotrubny Tube Mills OJSC, META Scrap Metal Processing Company, TD Uraltrubstal Metal Trading Division CJSC and the Oil Services Division represented by Rimera Company.

In accordance with the IFRS consolidated accounts the 2010 proceeds of CTRM amount to 85 401 million RUR, EBITDA — 17 631million RUR, and net profits — 4 724 million RUR.

As of 31 December 2010 CTRM OJSC and its affiliates employed 25 879 people.