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EVRAZ plc Holds Investor Day
EVRAZ plc Holds Investor Day.
About this update from Evraz Plc
[{"type":"text","content":"\n \nRNS Number : 3419J Evraz Plc 11 June 2014 \n \n\nEVRAZ plc Holds Investor Day\n \n11 June 2014 - EVRAZ plc (LSE: EVR) (\"EVRAZ\" or the \"Company\") announces that it will host its Investor Day at 9.00 am in London today.\n \nThe Investor Day will consist of presentations by Alexander Abramov (Chairman), Sir Michael Peat (Senior Independent Non-Executive Director) and Alexander Frolov (Chief Executive Officer) as well as by members of EVRAZ's senior management team setting out the Company's near-term strategic priorities for 2014-2015.\n \nHighlights of the day's presentations include:\n \n· Strategic fundamentals remain unchanged despite market challenges during the last 2 years\n· The Company has three key strategic priorities:\no Selective investments in low risk / high return projects with limited capex\no Cost-cutting initiatives to reinforce competitiveness of assets\no Customer focus to leverage leading market positions\n· In coking coal, EVRAZ is implementing an optimisation plan to strengthen profitability; Raspadskaya is a low cost growth story with capex being flexible and dependent on volumes\n· In iron ore mining, after a major turnaround programme Evrazruda is re-emerging as a compact operation, ensuring c.40% of EVRAZ ZSMK's needs at competitive costs; cost cutting and optimisation plans in place for further improvement of EVRAZ KGOK's and Evrazruda's cash cost position\n· Timir project will be executed subject to securing project finance\n· Reduced development capex in the Company's steel business going forward, selective implementation of investment projects\n· The Company has best in class assets for rail production in Russia and North America with superior product lines, high margins, growing volumes and a loyal customer base\n· EVRAZ North America's business is uniquely positioned to benefit from the oil & gas renaissance in North America\n· Deleveraging is a priority with a target ratio of Net debt / EBITDA of below 3.0x \n· Operational savings of $94m...