September 11, 2007

Access, Renova Finalize Asset Consolidation of Electrode Production Under Energoprom Management

Access Industries, together with Renova, recently obtained approval from the Russian Federal Anti-monopoly Service to consolidate three electrode plants: Novosibirsk, Novocherkassk and Chelyabinsk. The consolidated business will be operated through Moscow-based Energoprom Management and will produce 95% of all carbon electrodes and 50% of all cathode stacks in Russia to become Russia's largest producer of carbon graphite and one of the top five producers of carbon graphite in the world. Carbon graphite is used to make electrodes required for the production of aluminum, steel and other iron alloys.