|Bid||3.410 x 0|
|Ask||3.420 x 0|
|Day's Range||3.420 - 3.500|
|52 Week Range||1.640 - 3.980|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||3.90|
|Earnings Date||Aug 5, 2019 - Aug 9, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.84|
Braidy Industries and Rusal announces new mega-aluminum partnership. Yahoo Finance's Adam Shapiro and Julie Hyman join En+ Group Executive Chairman Lord Greg Barker and Braidy Industries Chairman & CEO Craig Bouchard to discuss.
Craig Bouchard compared the Russian aluminum giant to Miley Cyrus and says he's not concerned it will be hit with U.S. sanctions again.
(Bloomberg) -- En+ Group International PJSC, the power and aluminum company formerly controlled by billionaire Oleg Deripaska, is looking to find new customers for its electricity as it reboots after the lifting of U.S. sanctions.While En+’s four hydro power plants in Siberia are the main suppliers of electricity to its United Co. Rusal unit, it’s weighing options to supply other projects, said Chief Executive Officer Vladimir Kiriukhin. The company, which said on Tuesday that it has switched its domicile to Russia from Jersey, is also tapping cheap power to develop data centers.“The sanctions did not affect our strategy," Kiriukhin, 63, said in his first interview to international media since the restrictions were lifted on En+, power unit EuroSibEnergo and Rusal in late January. “Diversification and the search for the new customers for the power division is also an important area for us."Kiriukhin, a 20-year veteran of En+ units, took over last November as Deripaska agreed to reduce his ownership and relinquish control over the companies in return for the U.S. Treasury lifting sanctions. Now Rusal, the world’s No. 2 aluminum producer, is working to win back lost contracts, while the new CEO seeks to put the businesses on a sounder footing.“The power division suffered from sanctions to a lesser extent, mostly reputationally,” said Kiriukhin, who has PhD in engineering. As the result, En+’s power division’s first-quarter earnings before interest, taxes, depreciation and amortization was higher than the aluminum business.Siberian RiversWith water levels in Lake Baikal and on the Angara and Yenisey rivers in Siberia returning to normal for the first time in several years, En+’s power plants are generating more electricity. That not only provides cheap, green power to Rusal, but offers bigger potential for sales to third parties. That may include gold miner Polyus PJSC’s new Sukhoi Log mine, Kiriukhin said. Polyus’s press service said there are currently no talks on the issue.The company also has projects to build several mini hydro power stations on small mountain rivers, with a total capacity of 200 megawatts. The first will be the 8 megawatt Segozerskaya plant, which will supply an 8 billion-ruble ($125 million) data center, developed by DCLab Karelia under an accord with Rusal.En+ has a deal to provide 100 megawatts of power to Bitriver, which built a data center close to Bratsk hydro plant. “This is the largest deal of its kind on the Russian market," said Kiriukhin, adding that Chinese and U.S. companies have shown interest in building similar facilities. En+ has also formed a joint venture with Bitriver to provide computers racks in the center to so-called crypto miners.En+ is also improving the efficiency of its hydro power stations as it partially replaces coal-fired plants. That will cut greenhouse gas emissions by 2.8 million tons per year, the CEO said.The company is working to cut pollution from its small coal division, which provides power to homes in the Irkutsk region, Kiriukhin said. Flooding last month caused damage to some of those assets, as well as houses in the area, but En+ has restored power in the area and is helping employees who were affected. The impact on the company’s profit won’t be large, he said.To contact the reporter on this story: Yuliya Fedorinova in Moscow at email@example.comTo contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org, Dylan GriffithsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In late January Washington lifted the sanctions, imposed on Rusal and its co-owner Oleg Deripaska in April 2018, after intense negotiations and a series of organisational changes within Rusal. Tuesday's results showed recurring net profits dropped to $300 million, from $531 million at the same time last year, sending Rusal's Hong Kong-listed shares down by as much as 4.8% to HK$2.98. "The first quarter of the year was significantly challenged by the past year's events, including the (U.S. Treasury) sanctions which were only lifted on 27 January 2019," Rusal chief executive Evgenii Nikitin said in a statement.
Aluminium tied up in financing deals and collateral for loans, shortages and inventory draws will sustain prices in the physical market even as funds expecting sluggish demand sell derivatives. Physical premiums in Europe, paid above benchmark London Metal Exchange prices around $1,800 (1,384.4 pounds) a tonne, fell to $60 a tonne early January in anticipation of the removal of sanctions on Russian aluminium giant Rusal.
Russian aluminium producer United Company Rusal Plc has reduced its first-quarter sales of value added products (VAP) by 44 percent from a year ago and by 22 percent from the last quarter of 2018 because of sanctions by the United States. Washington imposed the sanctions on Rusal, the world's largest aluminium producer outside China, in April 2018 but lifted them on Jan. 27 as company co-owner Oleg Deripaska reduced his stake after months of talks and several extensions of the deadline for sanctions to take full effect. Despite the lifting of the sanctions, the company said that its sales of VAP metal - alloyed ingots, slabs and some other products - were affected in the first quarter since the contracts were constrained by being signed while the company was still under the sanctions.
Russian aluminium giant Rusal has appointed Charles Brian Hesse the head of its office in the United States at a time when it is trying to strengthen its presence in North America, the firm said in a statement on Tuesday. Prior to joining Rusal, the world's largest aluminium producer outside China, Hesse was the vice president of sales and marketing for the Americas for India's Vedanta, and prior to that, global sales director in a rolled products manufacturer, Aleris International. Rusal earlier in April landed its first investment in the United States since Washington lifted sanctions on it, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky.
FRANKFORT, Ky. (AP) — An aluminum company planning to build a $1.7 billion plant in Appalachia said Monday it's forging a partnership with a Russian company that until recently faced U.S. sanctions.
Rusal is making its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky. Rusal, the world's largest aluminum producer outside China, announced the deal in one of the main markets for the sector less then three months after it was removed from a blacklist. It had already resumed supplies to the U.S. market.
April 15 (Reuters) - United Company Rusal Plc: * ANNOUNCES LETTER OF INTENT IN RELATION TO A GREEN FIELD ALUMINIUM ROLLING MILL IN ASHLAND, KENTUCKY, USA * ANTICIPATED THAT CO'S INVESTMENT INTO PROJECT ...
Moody's Investors Service ("Moody's") has today assigned a corporate family rating (CFR) of Ba3, probability of default rating (PDR) of Ba3-PD to United Company RUSAL Plc (RUSAL), one of the largest aluminium producers in the world. Concurrently Moody's assigned a B1 (LGD 5) rating to the senior unsecured notes issued by Rusal Capital D.A.C., a wholly owned subsidiary of RUSAL.