The SUAL Group has consolidated about 60% of the shares in the Nadvoitsk Aluminum Works (the Republic of Karelia), the SUAL Press Service reported. In June 2001 the SUAL Group bought 37% of the shares in the Nadvoitsk Aluminum Works from a group of individual shareholders and portfolio investors.
The aluminum works produced 72.3 tons of aluminum in 2001, whereas the works' capacity is about 67,000 tons of aluminum a year. The SUAL Group comprises 19 enterprises in the aluminum industry. It produces 90% of Russia's bauxite, 60% of alumina and 20% of aluminum.
The Nadvoitsk Aluminum Works is one of the largest enterprises in Karelia. It was built in 1954. A reconstruction of the works started in 1995 to shift to the most environmentally friendly technology of aluminum production. The company's staff consists of 1,900 people.
The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz
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