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October 09, 2015 1:14 PM ET

Metals and Mining

Company Overview of Evraz Highveld Steel & Vanadium Ltd.

Company Overview

EVRAZ Highveld Steel and Vanadium Limited produces and sells iron ore, flat products, and steel and vanadium slag in South Africa, Africa, the Americas, Europe, and Australasia. It provides steel products, including cast billets as semi-finished products for producing rebars and merchant bars; structural products for the construction, transportation, and mining industries; and flat products that are used in the construction, fabrication, engineering, and ship-building industries. The company also offers vanadium slag for the conversion into ferrovanadium, which is used as a steel additive in high-strength steels. It was formerly known as Highveld Steel and Vanadium Corporation Limited and ch...

Old Pretoria Main Road


South Africa

Founded in 1957

2,048 Employees

Key Executives for Evraz Highveld Steel & Vanadium Ltd.

Evraz Highveld Steel & Vanadium Ltd. does not have any Key Executives recorded.

Evraz Highveld Steel & Vanadium Ltd. Key Developments

Update on Evraz Highveld Steel Sale

Mastercroft and East Metals shareholders and creditors of Evraz Highveld Steel & Vanadium Ltd. (OTCPK:HGVL.Y) have voted for a two-week adjournment over the prospective sale of the company to Hong Kong-listed metals group International Resources Group Ltd. The International Resources Group Limited has offered to pay SAR 350 million to the steel maker's creditors, in two tranches. One of the bidders Global Renewable Energy Group, Inc. is demanding that the bidding process be reopened, and claims it will finance Evraz Highveld to the tune of about SAR 5.3 billion over five years. Gerhard Rudolph is dispute resolution lawyer at Baker & McKenzie. Cliffe Dekker Hofmeyr acted as legal advisor for Mastercroft and East Metals. GRE's corporate law adviser is controversial businessman Connie Myburgh, who was involved in the failed Sharemax property investor scheme.

Court Proceedings Instituted Against Evraz Highveld Steel and Vanadium Limited

Shareholders are advised that urgent court proceedings were instituted by Global Renewable Energy Limited ("GRE") against Evraz Highveld Steel & Vanadium Ltd. and the joint Business Rescue Practitioners of Highveld ("the BRPS"). GRE furnished the BRPs with a copy of an urgent application on 23 September 2015 after 18h00, in terms of which GRE sought urgently to interdict the meeting in terms of Section 151 of the Companies Act convened for 28 September 2015. The urgent application was set down for hearing on 25 September 2015, which the BRPs opposed and filed an answering affidavit to, prior to the court hearing. The presiding judge held that the urgent application was an abuse of the court process and struck the urgent application off the roll due to lack of urgency and awarded costs to both Highveld and the BRPs, including costs of the two counsels.

Creditors, Shareholders Reportedly To Vote on Highveld Rescue Plan

Evraz Highveld Steel & Vanadium Ltd. reportedly to sell stakes to a Hong Kong-based buyer. Creditors and shareholders of Evraz Highveld Steel & Vanadium will meet on September 28, 2015, to vote on the business rescue plan outlining proposals to sell the company to a Hong Kong-based buyer.

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