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    Evraz Group reports 11.6% increase in Q107 steel output

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    MOSCOW, April 13 (RIA Novosti) -- Russia's largest steel producer Evraz Group S.A. (LSE: EVR) said Friday it has increased its steel production by 11.6% in the first quarter of 2007, year-on-year, to 4.29 million tons.

    The company produced 3.89 tons of rolled steel, 3.29 million tons of cast iron, 2.23 million tons of sintered iron ore, 1.56 million tons of iron-ore pellets, 142,000 tons of agglomerating coal and 58,000 tons of steam coal.

    Evraz, a leading vertically integrated mining company, comprises three major steel mills and several mining and coal-producing assets. It produces more than 20% of the world's primary vanadium products.

    Russian billionaire Roman Abramovich, best known abroad as the owner of the Chelsea football club, holds a 41% stake in Evraz.

    Since Abramovich bought into Evraz Group, the company has revised its M&A strategy and started a "worldwide expansion."

    The group recently acquired the Portland-based company Oregon Steel Mills for $2.3 billion, one of the largest purchases in the United States by a Russian company.

    An April 12 report in Russia's Vedomosti daily said Evraz is eyeing a new acquisition - Canada's IPSCO, one of the world's leading producers of steel plate and pipe.

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