SIDENOR HOLDINGS S.A.
Announcement.
STOMANA INDUSTRY INAUGURATES NEW LONG PRODUCTS ROLLING MILL
His Excellency the President of the Republic of Bulgaria, Mr. Georgi Parvanov has inaugurated the new, state-of-the-art, steel long products rolling mill of STOMANA INDUSTRY SA, the SIDENOR Group subsidiary in Pernik Bulgaria. This investment of BGN 156 million (i.e. 80 million Euros), is part of the significant ongoing investment program implemented at STOMANA INDUSTRY, since 2001 when the company was incorporated into SIDENOR Group and has reached BGN 254 million (i.e. 130 million Euros) to date. The new mill has increased the company's production capacity of long products to 1,000,000 tons per year and covers a total surface of 25,000m2 including production facilities, administrative buildings and warehouses. The company, also, produces flat products with production capacity 400,000 tons per year. The total annual production capacity of the company amounts to 1,400,000 tons.
The official inauguration ceremony was addressed by: His Excellency the President of the Republic of Bulgaria, Mr. Georgi Parvanov, the Deputy Minister of Economy and Finance, Mr. John Papathanassiou, Mr. Athanasios Athanasopoulos, Chairman of the Board of Directors of STOMANA INDUSTRY, Mr. Sarados Milios, CEO of SIDENOR Group and Mr. Anton Petrov, Member of the Board of Directors of STOMANA INDUSTRY.
More than 800 people from numerous countries attended the event, including Ministers, MPs, representatives of state and local authority, investors, bankers, customers and partners of the company.
"We are extremely proud of the achievements of STOMANA INDUSTRY in Bulgaria and the region during the last several years. We are happy to share with you the successful implementation of this extremely important for SIDENOR investment project. We do believe, that the new Rolling Mill will contribute to our success and will have impact upon the development of the internal market in Bulgaria and will strengthen our position in the international markets", said Mr. Milios, CEO of SIDENOR Group and Member of the Board of Directors of STOMANA INDUSTRY.
"This production line is unique for Bulgaria and together with the electronics and automation innovations of the production processes, it is one of the most advanced in the Europe. The new Rolling Mill will produce concrete reinforcing steel with the SD brand (already well-known in the Bulgarian market), hot-rolled round bars and merchant bars. With the implementation of this investment, STOMANA INDUSTRY becomes the largest producer of these products in the Balkan region", said Mr. Anton Petrov, Member of the Board of Directors of STOMANA INDUSTRY.
"We have come a long way. We've encountered many difficulties and had to overcome them. Despite this, I believe that this is the most significant and of highest priority investment for STOMANA INDUSTRY to date and it ensures the continuous development of the company in the Bulgarian, as well as the international markets. The people who will be involved with the production of reinforcing steel will have the privilege to work in the most modern production facility in this plant. They will also have the opportunity to work in excellent conditions with regard to level of security and automation", added Mr. Vladimir Nikolov, General Manager of STOMANA INDUSTRY S.A.
SIDENOR Group's SD reinforcing steel is being used all over Europe. The most recent examples are the major construction projects implemented in Greece for the 2004 Olympic Games in Athens. In Bulgaria SD reinforcing steel has been extensively used in the construction of sites such as Sofia Airport, Central Bus Station Sofia, the expansion of the Sofia Metro network, Arena 2 cinema complex, Business Park Sofia, MALL of Sofia, as well as a number of hotels, administrative centers and apartment buildings.
About STOMANA INDUSTRY S.A.
STOMANA INDUSTRY S.A. is a company of key importance for the region of Pernik and the country as a whole. It is the largest long steel producer in Bulgaria and the region and has been present in the Balkans and the international market for more than 50 years.
STOMANA INDUSTRY offers a wide range of products including integrated concrete reinforcing system, structural steel, hot rolled steel plates, special steels, special profiles and hot rolled steel balls for grinding.
The company's steel production strictly meets widely accepted quality standards such as EN, DIN, ASTM, JIS, BS, Lloyd?s Register, Germanischer Lloyd, etc. The Quality Management System is certified according to ISO 9001:2000.
Additionally the company's Environment Management System is certified according to ISO 14001:2004, and the Occupational Health and Safety Management System is certified according to OHSAS 18001:1999.
STOMANA INDUSTRY constantly invests in state of the art technologies with the aim to guarantee high quality of the production, better work conditions, environmental protection and higher standards for customer service.
It is important to note that a substantial amount has been invested for the improvement of Health and Safety in STOMANA INDUSTRY, followed by social programs for the city of Pernik.
With regard to the implemented large scale investment program, in 2007 STOMANA INDUSTRY received class A investor first class, certificate by the Bulgarian Investment Agency.
About SIDENOR GROUP
SIDENOR is the largest producer of steel in Greece with additional steelmaking, rolling and reinforcing mesh operations in Bulgaria and the Former Yugoslavian Republic of Macedonia (FYROM) and is active in the pipe business through its subsidiary CORINTH PIPEWORKS S.A.
The main steel plants are located in Thessaloniki and Almyros (SOVEL) in Greece: in Pernik, Bulgaria (STOMANA INDUSTRY): and in Dojran, FYROM (DOJRAN Steel) and the pipe mill in Thisvi (CPW), Greece. In addition, SIDENOR operates steel distribution centers throughout the Balkans, either on its own or through partnerships.
Total 2007 steel production was 2 million tons approx., which is expected to grow significantly in the near future. After the operation of the new rolling mill at STOMANA INDUSTRY, SIDENOR's total steel rolling capacity will reach 3.6 million metric tons per year, by 2009.
His Excellency the President of the Republic of Bulgaria, Mr. Georgi Parvanov has inaugurated the new, state-of-the-art, steel long products rolling mill of STOMANA INDUSTRY SA, the SIDENOR Group subsidiary in Pernik Bulgaria. This investment of BGN 156 million (i.e. 80 million Euros), is part of the significant ongoing investment program implemented at STOMANA INDUSTRY, since 2001 when the company was incorporated into SIDENOR Group and has reached BGN 254 million (i.e. 130 million Euros) to date. The new mill has increased the company's production capacity of long products to 1,000,000 tons per year and covers a total surface of 25,000m2 including production facilities, administrative buildings and warehouses. The company, also, produces flat products with production capacity 400,000 tons per year. The total annual production capacity of the company amounts to 1,400,000 tons.
The official inauguration ceremony was addressed by: His Excellency the President of the Republic of Bulgaria, Mr. Georgi Parvanov, the Deputy Minister of Economy and Finance, Mr. John Papathanassiou, Mr. Athanasios Athanasopoulos, Chairman of the Board of Directors of STOMANA INDUSTRY, Mr. Sarados Milios, CEO of SIDENOR Group and Mr. Anton Petrov, Member of the Board of Directors of STOMANA INDUSTRY.
More than 800 people from numerous countries attended the event, including Ministers, MPs, representatives of state and local authority, investors, bankers, customers and partners of the company.
"We are extremely proud of the achievements of STOMANA INDUSTRY in Bulgaria and the region during the last several years. We are happy to share with you the successful implementation of this extremely important for SIDENOR investment project. We do believe, that the new Rolling Mill will contribute to our success and will have impact upon the development of the internal market in Bulgaria and will strengthen our position in the international markets", said Mr. Milios, CEO of SIDENOR Group and Member of the Board of Directors of STOMANA INDUSTRY.
"This production line is unique for Bulgaria and together with the electronics and automation innovations of the production processes, it is one of the most advanced in the Europe. The new Rolling Mill will produce concrete reinforcing steel with the SD brand (already well-known in the Bulgarian market), hot-rolled round bars and merchant bars. With the implementation of this investment, STOMANA INDUSTRY becomes the largest producer of these products in the Balkan region", said Mr. Anton Petrov, Member of the Board of Directors of STOMANA INDUSTRY.
"We have come a long way. We've encountered many difficulties and had to overcome them. Despite this, I believe that this is the most significant and of highest priority investment for STOMANA INDUSTRY to date and it ensures the continuous development of the company in the Bulgarian, as well as the international markets. The people who will be involved with the production of reinforcing steel will have the privilege to work in the most modern production facility in this plant. They will also have the opportunity to work in excellent conditions with regard to level of security and automation", added Mr. Vladimir Nikolov, General Manager of STOMANA INDUSTRY S.A.
SIDENOR Group's SD reinforcing steel is being used all over Europe. The most recent examples are the major construction projects implemented in Greece for the 2004 Olympic Games in Athens. In Bulgaria SD reinforcing steel has been extensively used in the construction of sites such as Sofia Airport, Central Bus Station Sofia, the expansion of the Sofia Metro network, Arena 2 cinema complex, Business Park Sofia, MALL of Sofia, as well as a number of hotels, administrative centers and apartment buildings.
About STOMANA INDUSTRY S.A.
STOMANA INDUSTRY S.A. is a company of key importance for the region of Pernik and the country as a whole. It is the largest long steel producer in Bulgaria and the region and has been present in the Balkans and the international market for more than 50 years.
STOMANA INDUSTRY offers a wide range of products including integrated concrete reinforcing system, structural steel, hot rolled steel plates, special steels, special profiles and hot rolled steel balls for grinding.
The company's steel production strictly meets widely accepted quality standards such as EN, DIN, ASTM, JIS, BS, Lloyd?s Register, Germanischer Lloyd, etc. The Quality Management System is certified according to ISO 9001:2000.
Additionally the company's Environment Management System is certified according to ISO 14001:2004, and the Occupational Health and Safety Management System is certified according to OHSAS 18001:1999.
STOMANA INDUSTRY constantly invests in state of the art technologies with the aim to guarantee high quality of the production, better work conditions, environmental protection and higher standards for customer service.
It is important to note that a substantial amount has been invested for the improvement of Health and Safety in STOMANA INDUSTRY, followed by social programs for the city of Pernik.
With regard to the implemented large scale investment program, in 2007 STOMANA INDUSTRY received class A investor first class, certificate by the Bulgarian Investment Agency.
About SIDENOR GROUP
SIDENOR is the largest producer of steel in Greece with additional steelmaking, rolling and reinforcing mesh operations in Bulgaria and the Former Yugoslavian Republic of Macedonia (FYROM) and is active in the pipe business through its subsidiary CORINTH PIPEWORKS S.A.
The main steel plants are located in Thessaloniki and Almyros (SOVEL) in Greece: in Pernik, Bulgaria (STOMANA INDUSTRY): and in Dojran, FYROM (DOJRAN Steel) and the pipe mill in Thisvi (CPW), Greece. In addition, SIDENOR operates steel distribution centers throughout the Balkans, either on its own or through partnerships.
Total 2007 steel production was 2 million tons approx., which is expected to grow significantly in the near future. After the operation of the new rolling mill at STOMANA INDUSTRY, SIDENOR's total steel rolling capacity will reach 3.6 million metric tons per year, by 2009.