Tag Archives: Moscow

URALCHEM Increased its Investments to $174 Million in 2013

March 21, 2014 staronepr Leave a comment

In 2013 URALCHEM’s investments in development reached $174 million, an increase of 5.5% compared to the previous year.

Moscow, Russia (March 21, 2014) — In 2013 URALCHEM‘s investments in development reached $174 million, an increase of 5.5% compared to the previous year. $84 million was spent on the implementation of investment projects, $77 million was spent on capital investments in equipment upgrades and $13 million was allocated for capitalized repairs.

The company’s plant in Kirovo-Chepetsk made the biggest contribution to the development investments – $46 million. The main areas of investment in the plant included building facilities for the production of new products, as well as reconstruction of existing facilities to increase production of mineral fertilizers and chemical products. In particular, work was continued on the project to create a new product, calcium nitrate. Another completed project was the increase in the capacity of one of the two units of nitric acid, which had originally started in 2012. Work was begun to increase the capacity of the second nitric acid unit and work continued to increase the capacity of the ammonia unit.

The investments by the “Azot” plant in Berezniki totalled $41 million. The main areas of investment were projects aimed at increasing output and reducing raw material consumption. Major work was carried out on units of production of ammonia, urea and nitric acid. $26 million was spent on the development of the plant in Perm. Most of the funds were allocated to a large-scale programme of modernization of the ammonia unit. The implementation of this project will increase production and reduce raw material consumption. The total capital investments of the plant in Voskresenks amounted to more than $13 million, which was spent on the development of new products.

The company’s major infrastructure project for the year was the completion and launch of the fertilizer handling terminal at the port of Riga in the fourth quarter of 2013. The terminal has a capacity of 2 million tonnes per year. The total investment for this project was about $78 million, $34 million of which was spent in 2013. Also in 2013, the company continued increasing the number of units in its own rolling stock, extending its life and modernizing it.

Dmitry Konyaev, CEO of URALCHEM OJSC, commented, “In 2013, URALCHEM continued to implement a long-term investment programme aimed at the technical upgrade of existing facilities. The main goal of the programme is to increase production and to improve the efficiency of technological processes, reducing rates of raw materials consumption and improving the environmental safety of production.”

PR department
URALCHEM, OJSC
Tel: +7 (495) 721 89 89
Email: pr@uralchem.com
Web: http://www.uralchem.com

URALCHEM, OJSC is one of the largest producers of nitrogen and phosphate fertilisers in Russia and the CIS with production capacities of over 2.5 million tonnes of ammonium nitrate, 2.8 million tonnes of ammonia, 0.8 million tonnes of MAP and DAP, 0.8 million tonnes of complex fertilisers and 1.2 million tonnes of urea. URALCHEM, OJSC is the second largest ammonium nitrate producer in the world and number one in Russia, the second largest producer of nitrogen fertilisers in Russia. Key production assets of URALCHEM, OJSC include Azot Branch of URALCHEM, OJSC in Berezniki, Perm Region; OJSC Minudobrenia, Perm; MFP Kirovo-Chepetsk Chemical Works, OJSC Branch in Kirovo-Chepetsk, Kirov region; Voskresensk Mineral Fertilisers, OJSC in Voskresensk, Moscow region.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of URALCHEM. We wish to caution you that these statements are only predictions. We do not intend to update these statements and our actual results may differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, financial risk management and the impact of general business and global economic conditions.

Business

Pavel Gagarin Diagnoses the Medical Market in Russia as looking very Healthy for Investors

October 5, 2012 staronepr Leave a comment

In late September 2012, Pavel Gagarin, Chairman of the Board of Gradient Alpha Investments Group, explained to the participants of the third all-Russia medical forum in Moscow the ways of attracting investments into medical establishments.

Moscow, Russia (October 5, 2012) — In late September 2012, Pavel Gagarin, Chairman of the Board of Gradient Alpha Investments Group, explained to the participants of the third all-Russia medical forum in Moscow the ways of attracting investments into medical establishments.

The need for quality health care in Russia is huge, with most people believing that they can only get it for money. According to a survey carried out by Romir Holding this summer, 67% of Russians have used paid medical services in the last year. More than half of the respondents paid their own account and 15% used those services as part of their corporate or private health insurance schemes.

Russian commercial medicine is one of the fastest growing industries in the country. From 2007 to 2011 the market volume has grown from 367 to 535 billion roubles (from £7.3 bn to £10.7 bn). The annual growth, even during the crisis, has remained at a level of 16%. Outpatient services comprise half of this market, laboratory-diagnostic services take one-quarter, a 16% share of the market is taken by in-patient treatment and 8% by rehabilitation services.

67% of Russians, when using paid medical services, turn to private health care institutions; 46% of patients go to state clinics and hospitals (13% use both). Among the five most popular services customers prefer to pay for are: dentistry, gynaecology, therapy (GP), ophthalmology and medical anaesthetics. Only 23% of those who do not use paid medicine believe that they cannot afford it; the others either claim to be completely healthy or are happy with the free medicine provided by the state.

The second factor that makes the market for private medical services in Russia promising and attractive to private capital is of the state policies for the privatization of medical institutions. In accordance with the Federal Law of 08.05.2010, No.83-FZ “On Amendments to Certain Legislative Acts of the Russian Federation in connection with the improvement of the legal status of state (municipal) institutions”, many hospitals that have received autonomous status will be incorporated and transferred to the management of private parties. Tax incentives, such as corporation tax will also contribute to the growth of investment. Thus, within the framework of the Russian health reform, the state is gradually but purposefully substituting its operational functions by controlling functions.

Gradient Alpha’s experience in supporting investment projects in the health area and auditing health facilities shows that competent management can increase the revenues of a medical institution by 30% to 50%. This fact is not a secret to the authorities who are willing to pass health care facilities to private owners in exchange for shares in the business of these companies.

A vivid example of such a transaction is the April 2012 deal between the Moscow government and the Medsi group of companies. Under this project, the city authorities passed two state-owned sanatoriums, three hospitals and five out-patient clinics in Moscow, as well as one resort in the Crimea to Russia’s largest private network of health care institutions in exchange for a 25% share of the new company. Using these medical institutions, Medsi is launching new, specialized centres providing high-tech services. Thanks to the administrative resources that it has acquired through this transaction, the network of clinics is expecting to acquire the state quota for such services. The well-known American fund Apax Partners and the Russian Direct Investment Fund have signed an agreement to invest about $200 million in the development of this project.

Therefore, Russian health care is an attractive area for investors. Despite long investment horizons and difficulties in obtaining permits, the vast growth potential of the market provides for very good opportunities in terms of future income.

-Ends-

For more information, please visit the company web site http://www.gradient-alpha.biz or use the following contacts:

PR department
Gradient Alpha Investments Group
Tel: +7 (495) 740 1264
E-Mail: m.shetilenko@gradient-alpha.ru

PR representative in Europe
Eva Smit
Tel: +44 (0) 7538 978986
E-Mail: insidersuk@gmail.com

Gradient Alpha Investments Group has more than 15 years of experience in facilitating investment deals in Russia. Acting as a strategic growth consultant for many Russian companies, the group has conducted hundreds of investment projects, both private and public, in various sectors of the economy. The total amount of investment capital procured through Gradient Alpha has averaged around three billion US dollars per year during the last five years.

Entertainment

Russian Born, US-Based Singer Irina is Set to Make her World Debut at Ello Music Festival in Moscow

September 2, 2012 straightlinepr Leave a comment

Irina will perform a 4-song set including debut single “Something About You” COMPLETE with Free Online Webcast Live from Gorky Park

Los Angeles, CA, August 30, 2012 – Moscow native, US-based singer, songwriter and dancer Irina is preparing to make her debut international performance at the ELLO Music Festival in Moscow’s mecca for culture and leisure – Gorky Park. The festival will include a line up of Russia’s top stars, with Irina travelling all the way from the US to participate in the event. The performance will officially mark the launch of Irina’s international career where she will be performing a 4-song set to showcase her debut single ‘Something About You’. The festival takes place from 4pm – 9pm on September 8th and Irina’s spectacular performance will feature six LA-based dancers, New York-based rapper BK Brasco and Chinese violinist Analiza Ching. At the helm, managing Irina’s career is former President of Universal Music Russia, David Junk.

Born and raised in Moscow, Irina began working in the music industry as a songwriter for other Russian artists. Working with these other artists provided Irina the confidence she needed to reach out and launch her own career as an artist. Taking off for Los Angeles via Miami, Irina has made the USA her second home and the new base for her career. Working in the USA has given Irina the opportunity to work with talented producers such as Denis Ingoldsby, Mark Feist and WAX Ltd. Irina is currently in Los Angeles rehearsing with her team for the upcoming performance in her hometown, Moscow, for which 2012 will see the celebration of it’s 865th birthday. Gorky Park is one of Moscow’s most famous landmarks. First laid out in 1928 it was the first park of it’s kind and became the prototype for hundreds of others throughout the Soviet Union.

Joining Irina on stage in Moscow for her performance are six LA-based dancers who have danced with the likes of Britney Spears, Janet Jackson, Katy Perry, Rihanna, Pitbull, The Pussycat Dolls, Ciara and Christina Aguilera.

Brasco will be performing with Irina on the song “Feels So Good” as a featured artist. Hailed as New York’s most promising rappers, Brasco first burst to the forefront of the rap scene in the group, “Brooklyn”. They were discovered by Shakir Stuart, which landed the group a deal with Arista Records. Although they eventually disbanded, Brasco was given a platform to work with producers and songwriters such as Scott Stortch, Polow Da Don, Adonnis, Sean Garrett and others. The New York-based Brasco teamed up with an array of production and studio superstars, thus piquing the interest of Jay-Z and Interscope Records chairman, Jimmy Iovine. Without even a mixtape or album release, Iovine signed Brasco to Interscope Records. Later, Timbaland and Brasco were introduced and the bidding war for Brasco ensued, which resulted in Brasco signing to Timbaland’s label, Mosley Music Group.

Analiza Ching, an exciting new talent, comes from Southern China and will join Irina on stage for the empowering anthem “Catch My Tears”. Analiza was classically trained from the age of four and studied at the Royal Academy of Music in London. She has a unique style of combining music and dance. She has appeared with high profile personalities and at major events for both the UK Government and Foreign Ambassadors. Analiza has thrilled audiences at many of the world’s major concerts, such as her solo performance at the Beatles’s 50th Anniversary Tribute Concert with the Royal Philharmonic Orchestra at the Royal Albert Hall; Gala Award ceremony at Monaco Film Festival in Monte Carlo and classical recitals at Windsor Castle for Prince Edward, the Princess Royal and other members of the Royal Family.

The Pussycat Dolls choreographer and co-creative director Michael “Mikey” Minden provided the routine for “Something About You”. Mikey has also previously created movement for Paris Hilton, Hilary Duff, Pink, Usher and many more. Mikey has also been the artistic director and choreographer for award shows all over the world including: The Emmy Awards, MTV VMA’s, MTV Movie Awards, and the Billboard Awards. Irina’s upcoming show will feature additional choreography from Shawnette Heard. Shaped by her experiences working with the likes of Janet Jackson, Beyonce, Madonna, Michael Jackson, Tina Turner and others, Shawnette’s innovation as a director stems from her innate understanding of how to communicate story through arresting imagery, rhythm, and dynamic movement. Shawnette has choreographed performances for awards shows such as the 2000 Blockbuster Awards, 2001 American Music Awards and 2007 World Music Awards.

Denis Ingoldsby is a British producer who has worked with Irina at the legendary Sunset Sound studios in Hollywood on the songs “Feels So Good Ft. Brasco” and “Catch My Tears”. Denis is responsible for launching the careers of many artists across different genres of music, ranging from R&B with girl group Eternal who sold over 10 million records worldwide, to dubstep with his latest endeavor, Flux Pavilion.

Australian-born producer Mark Feist made his name working with artists such as Destiny’s Child (and later Beyoncé’s solo career), Celine Dion, Joss Stone, Wyclef Jean, John Legend, The Spice Girls and many more. Throughout his career, Mark has contributed to songs with sales in excess of 60 million records worldwide. Not only does Mark produce, write and arrange but he also plays many of the instruments that feature in his tracks.

Wax Ltd is the songwriting and production team of Wally Gagel and Xandy Barry who have worked with Rihanna, Britney Spears and Jessica Simpson as well as Muse and The Rolling Stones. Wally and Xandy are based in Los Angeles.

David Junk, the former president of Universal Music Russia responsible for signing the multi-platinum Russian duo t.A.T.u. (All The Things She Said and Not Gonna Get Us), is now managing Irina’s career. After seeing huge success in Russia and Eastern Europe with t.A.T.u., David brought the band to the world market via Interscope Records where they went on to sell over 5 million records worldwide.

The ELLO Music Festival can be streamed online, live on the day of the event from www.YouTube.com/ELLO.

Visit Irina Online:
www.IrinaGlobal.com
www.Facebook.com/IrinaGlobal

For more information on Irina please contact: Chip Schutzman/Miles High Productions
323-806-0400 , Chip@mileshighproductions.com

Contact:
Chip Schutzman
Miles High Productions
P.O. Box 93157
Hollywood, CA 90093
323-806-0400
chip@mileshighproductions.com
http://www.mileshighproductions.com/

Business

Battle-Hardened Investors give their View on the Russian Market

July 5, 2012 staronepr Leave a comment

The meetings took place in France (February 23, Paris), USA (12-14 March, New York), UK (12 April, London), Germany (15 May, Munich) and Russia (22 May, Moscow).

Moscow, Russia (July 4, 2012) — (For Immediate Release)
– Innovative technologies are the most attractive industry sector in Russia for foreign investors.
– Russian manufacturing and industry interest investors much more than investments in land and property.
– Foreign investors in Russia tend to invest relatively small capital (less than 1 million euros) in several projects and get returns within one to two years.
– The most popular form of investment project in Russia is a joint venture with a Russian co-investor or the “receiver of the investment”.
– Despite difficulties, Moscow remains the most attractive region for investment.
– Within the hierarchy of investment risks in Russia, investors continue to worry most about tax and administrative risks.

These were the main conclusions reached by Russian consulting group Gradient Alfa, which were based on surveys among businessmen and investors who participated at meetings held by the company in the first half of 2012. The meetings took place in France (February 23, Paris), USA (12-14 March, New York), UK (12 April, London), Germany (15 May, Munich) and Russia (22 May, Moscow).

Chairman of the Board of Directors of Gradient Alpha, Pavel Gagarin, said that foreign investors view the Russian market as attractive and promising, although they place it in the “higher risk zone”. It is the potential to minimize these risks that determines the attractiveness of investment projects.

“The last thing foreign investors want to invest in is land and property, even in Moscow and the Moscow region; it is incomprehensible and scary for them. By comparison, manufacturing and industry appear a lot more attractive. Despite Russia’s entry into the WTO, the “import replacement” policy of the Russian authorities is actively continuing. To bypass these restrictions, investors need to start their production inside Russia, opening branches and representative offices here. Moreover, it is easier to start a new business from scratch in the Special Economic Zones, than to revive an old company, which is burdened with debts and other obligations,” said Pavel Gagarin.

Surveys conducted by Gradient Alpha show that innovative technology is currently by far the most attractive investment sphere in Russia. This is mainly due to the insignificant level of investment required and the quick returns. Besides, the choice is driven by the high demand from Russian consumers for these products. The good prospects for this market are highlighted by the rapid growth and penetration of traditional and mobile Internet; there has also been a sharp increase in the number of mobile applications.

The next most promising areas for investors are retail and certain sectors of the FMCG market. Network retail is viewed as particularly attractive. Consumption in Russia is very high. Leading national retailers increase revenue by more than 30% annually. According to the Association of Retail Companies, retail networks comprise 38% of the Russian retail sector, with the five largest companies having 10% market share.

Another trend for foreign investors is to invest relatively small sums of capital (less than 1 million euros) in several projects and to get returns within one to two years. The most popular form of investment project is a joint venture with a co-investor or the receiver of the investment. For investors, who would be perfectly capable of financing the whole project, this is a way to diversify risks. It is safer to invest 30% of the available resources in three different projects than to fund 100% of one project.

Despite the fact that Moscow is a difficult city in which to do business, it is still the most attractive investment region. “Investors are afraid to invest in projects located more than 50 kilometres from the capital for the following reason: it can be easier to work in the regions, but that depends entirely on the specific attitude of the authorities’ representatives there. There is no such dependence on the “human factor” in the federal centre, rather a dependence on the system, which is easier to adapt to,” said Pavel Gagarin.

Another Russian region selected by investors as an attractive area for investment is Tatarstan. In addition to a favourable investment climate, this choice is determined by a simplified procedure for businesses and property registration, the vast territories of the republic and the availability of cheap labour.

Today, foreign investors have a certain perception of investment risks in Russia and their relative importance. In the first place are tax risks, meaning rather a possibility of unfair taxation than a high level of taxes. The second and third places are bureaucratic and administrative risks that might affect the time taken to receive the required permits, constantly changing terms for them and regular changes to the “rules of the game.” Fourth place is taken by legal risks. Foreign investors see the legal environment for doing business in Russia as “legal chaos”. By this they are referring to discrepancies between federal and local laws, lack of uniformity in law enforcement and the absence of federal laws “On Public-Private Partnership”, “On Holding Companies” and “On project financing.”

For more information, please visit the company web site http://www.gradient-alpha.biz or use the following contact information:

PR department
Gradient Alpha Investments Group
Tel: +7 (495) 740 1264
E-Mail: m.shetilenko@gradient-alpha.ru

PR representative in Europe
Eva Smit
Tel: +44 (0) 7538 978986
E-Mail: insidersuk@gmail.com

Business

URALCHEM HOLDING P.L.C. Reports IFRS Financial Results for the First Quarter of 2012

May 31, 2012 staronepr Leave a comment

URALCHEM HOLDING P.L.C. announced its unaudited IFRS financial results for the first quarter of 2012 ending 31 March 2012.

Moscow, Russia – May 31, 2012 — (For Immediate Release)

– Revenue increased to US $673 million, compared to US $566 million in Q1 2011.
– Operating profit increased to US $178 million, compared with US $160 million in Q1 2011.
– Adjusted EBITDA grew to US $207 million, compared to US $186 million in Q1 2011.
– Net profit amounted to US $354 million, compared with US $174 million in Q1 2011.

URALCHEM HOLDING P.L.C. (hereinafter URALCHEM Holding or the Company), a Cypriot holding company of the URALCHEM Group (hereinafter the Group), one of the largest producers of nitrogen and phosphate fertilizers in Russia, announced its unaudited IFRS financial results for the first quarter of 2012 ending 31 March 2012.

Dmitry Konyaev, CEO of URALCHEM, OJSC (part of the Group), commented on the first quarter of 2012 results, “I am pleased with the Company’s results in the first quarter of this year. We are moving ahead as planned. Net profit in the first quarter of 2012 more than doubled compared to the same period last year. This happened due to the acquisition of Minudobrenia in Perm, as well as the reassessment of our share in the enterprise. Besides, the net profit figure was influenced by a considerable reduction in interest expenses on loans which became possible after we refinanced the loan portfolio last year.”

Financial Results

Revenue for the first quarter of 2012 grew 19% to US $673 million, compared to US $566 million in the first quarter of 2011. Operating profit amounted to US $178 million, or 26% of the revenue, compared with the operating profit of US $160 million, or 28% of the revenue in the first quarter of 2011.

Net profit for the first quarter of 2012 more than doubled, amounting to US $354 million, compared to US $174 million in the first quarter of 2011. Without the reassessment of the Company’s share in Minudobrenia, Perm the net profit growth comprised 15%.

During the first quarter of 2012, adjusted EBITDA reached US $207 million, compared to US $186 million the year before, a rise of 11%. Adjusted EBITDA margin for the first quarter of 2012 comprised 31% of revenue compared with 33% of revenue for the first quarter of 2011.

Markets

In the first quarter of 2012 the prices of fertilizers and intermediates showed significantly different dynamics. Prices for ammonia at the Yuzhny port fell to $70 / t due to low demand, both in agriculture and industry, which coincided with the launch of Qafco V. Market recovery began only in late March.

During January to early February the urea market repeated its dynamics in 2011. However, in mid-February a rapid increase in the price of urea started due to high demand in the U.S. The late Q1/early Q2 price level approached peak figures ??of 2011 even surpassing them at certain markets. Prospects for market development in the second quarter remain optimistic for market participants.

Prices for ammonium nitrate were stable during the first quarter due to high volumes of domestic market shipments.

The global market of phosphate fertilizers in the first quarter of 2012 was characterized by low activity, with prices going down slightly. European demand was limited due to severe weather conditions and financial instability. Moderate recovery in prices occurred in late Q1 due to higher demand in Latin America and the U.S. domestic market.

Sales

In the first quarter of 2012 the Group’s product sales amounted to 1.7 million tons, up 20% compared to the first quarter of 2011. Through the acquisition of OJSC Minudobrenia, Perm in January 2012, sales of urea and of ammonia increased significantly.

Financial Situation

Cash generated from operating activities grew by 4%, from US $167 million in the first quarter of 2011 to US $174 million in the first quarter of 2012.

On 31 March 2012, the Company’s net debt amounted to US $1,076 million. The weighted average interest rate in the loan portfolio for the first quarter 2012 decreased to 5.85% compared to annual 8.0% for the same period last year.

Annex to the press release about the unaudited financial results for the first quarter of 2012

EBITDA is a profit / loss from financial and economic activities during the reporting period, before deduction of income tax on profits, income and interest costs, depreciation and amortization. “Adjusted EBITDA” is EBITDA for the reporting period before goodwill, profit / loss from associates, profit / loss on foreign exchange differences arising on financial performance and profit / loss on operations with derivative financial instruments. Adjusted EBITDA is operating profit before depreciation and amortization and financial results of operations with derivative financial instruments. In accordance with International Financial Reporting Standards (“IFRS”), depreciation and amortization are included in cost structure, and in the selling, general and administrative expenses. IFRS does not require the disclosure and does not describe the calculation of EBITDA and adjusted EBITDA, among other financial indicators, so they can not substitute for net profit for the period when evaluating the results of operations or the measure of cash provided by operating activities when evaluating liquidity. Approach to the calculation of EBITDA and adjusted EBITDA, as described earlier, may not coincide with the approaches used by other companies, therefore, comparability may be limited. We believe that EBITDA and adjusted EBITDA provide useful information to investors because they are indicators of the stability and efficiency of our business and our ability to fund discretionary spending such as capital expenditures, the acquisition of subsidiaries and other investments, as well as indicators of our ability to incur and service debt. IFRS classifies depreciation and amortization to operating costs, while in fact they are distributed to the current period non-cash expenses for the acquisition or creation of fixed assets, incurred in previous periods, and are not affiliated with the movement of funds.

For more information, please visit the Company web site http://www.uralchem.com or use the following contact information:

PR department
URALCHEM, OJSC
Tel: +7 (495) 721 89 89
E-Mail: pr@uralchem.com