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Skoda Steel Renamed Pilsen Steel

MOSCOW (RNWire) – Skoda Steel, a part of OMZ (Uralmash-Izhora Group) (RTS: OMZZ; LSE: OMZD; OTC: UHMVY), has been renamed Pilsen Steel as part of the company’s strategy. The new logo of the company was unveiled at OMZ meetings in Prague.

Skoda Steel and Skoda JS have been OMZ subsidiaries since 2004.

In 2005-2006 Skoda Steel further improved its key operational figures. In 2006 revenues of the company reached USD 193.047 million, 8% higher than projected. Net profit amounted to USD 33.284 million (160% higher than projected).

The rebranded Skoda Steel will continue producing mechanically processed forgings ranging from 1 to 80 metric tons. Currently the company is the world leader in the production of forged rolls for wind power stations and the world’s second largest supplier of crankshafts for four-stroke diesel engines. Other products include rotors, tail shafts and rolls. The company also sells steel and iron castings of up to 200 tons, particularly castings for steam and gas turbines, engine blocks, stands for rolling mills and processing machines, as well as castings for shipbuilding.

OMZ (Uralmash-Izhora Group) is one of the largest Russian heavy industry enterprises. It specializes in engineering, production, sales and maintenance of equipment and machines for the nuclear power industry, and also in the production of special steels. OMZ divisions’ facilities are located in Russia (Uralmash and Izhorskiye Zavody) and the Czech Republic (Pilsen Steel and Skoda JS). Currently OMZ is focused on a program related to the optimization of its business processes. The program is aimed at raising the company’s efficiency and investment attractiveness.

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