Siberian Coal Energy Company
 |
|
| Private (Open joint stock company) | |
| Industry | Coal mining |
| Founded | 2001 |
| Founder | Andrey Melnichenko |
| Headquarters | Moscow, Russia |
|
Area served
|
Siberia and Far East |
|
Key people
|
Andrey Melnichenko (chairman) Vladimir Rashevsky (CEO) Alexander Landia (Senior independent director) |
| Products | Coal |
| Revenue | US$5.381 billion (2013) |
| US$445 million (2013) | |
| US$133 million (2013) | |
| Total assets | US$6.904 billion (2013) |
| Owner | Andrey Melnichenko (50%) |
|
Number of employees
|
33,500 (2013) |
| Parent | SUEK Plc |
| Website | www |
Siberian Coal Energy Company (SUEK) is Russia's largest coal producing corporation, which has affiliates and subsidiaries in Krasnoyarsk Oblast, Primorsky Krai, and Khabarovsk Krai, Irkutsk, Chita Oblast, Kemerovo Oblast, Buryatia and Khakassia.
History
In February 2007, SUEK and Gazprom agreed to establish a joint company on the basis of their electricity and coal assets. The shares of new company would have been divided on the basis of 50% plus 1 share to Gazprom and 50% minus 1 share to SUEK. However, that deal was abandoned.[1]
In June 2010, SUEK obtained regulatory approval to list up to 25% of its shares abroad. However, in August 2010 the IPO was postponed for an unspecified period.[2][3]
In December 2010, the Federal Antimonopoly Service determined collusion by SUEK and two other coal producers. These accusations were denied by SUEK.[4]
In February 2012, SUEK bought 24.9% stake in the Murmansk port.[5]
Moody's Investors Service has assigned a Ba3 corporate family rating (CFR) and a Ba3-PD probability of default rating to SUEK in October 2013. The assignment of ratings to SUEK follows the company's corporate reorganisation, as a result of which hard coal assets and logistics assets (Vanino Sea Bulk Terminal and Murmansk trade sea ports) will continue to be directly controlled by SUEK OJSC (100% subsidiary of SUEK) while brown coal deposits will be spun off and will be controlled directly by SUEK.[6]
Operations
SUEK provides about 31% of coal in the Russian market and about 25% of Russian coal exports.[7] It develops Kharanor, East, and Tugnuyskogo deposits of coal, and has a license for the development of the Nicholas deposit. In 2007, SUEK produced 90.9 million tons of coal.[8]
In addition to the coal mines, SUEK was a shareholder in several Siberian and Far-Eastern power companies, most prominently in Kuzbassenergo (TGK-12) and Yenisei TGK (TGK-13).[8] However, in April 2011 the company announced a plan to de-merge its power assets. As the first stage of de-merging, the power assets were transferred to Siberian Energy Investments Ltd., a holding company controlled by the SUEK's major shareholder Donalink Ltd.[9][10][11]
Owners
The chairman of the board of directors is Andrey Melnichenko and the CEO is Vladimir Rashevsky, a minor shareholder of the company. 100% of SUEK shares are owned by SUEK Plc, a Cyprus-registered company controlled by Andrey Melnichenko.[3]
References
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 3.0 3.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ https://www.moodys.com/research/Moodys-assigns-a-Ba3-first-time-rating-to-SUEK-PLC--PR_285554?WT.mc_id=NLTITLE_YYYYMMDD_PR_285554%3C%2fp%3E
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 8.0 8.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
