SUEK
 |
|
| Private (Open joint stock company) | |
| Industry | Coal mining |
| Founded | 2001 |
| Founder | Andrey Melnichenko |
| Headquarters | Moscow, Russia |
|
Area served
|
Siberia and Far East |
|
Key people
|
Andrey Melnichenko (chairman) Vladimir Rashevsky (CEO) Alexander Landia (Senior independent director) |
| Products | Coal |
| Revenue | US$4.132 billion (2015) |
| US$439 million (2015) | |
| US$200 million (2015) | |
| Total assets | US$6.608 billion (2015) |
| Owner | Andrey Melnichenko (92.2%) |
|
Number of employees
|
32,100 (2015) |
| Parent | SUEK Plc |
| Website | www |
Siberian Coal Energy Company (SUEK) is one of top-ten global coal producers by output, international sales and reserves and Russia's largest coal producer, which has affiliates and subsidiaries in Krasnoyarsk Oblast, Primorsky Krai, and Khabarovsk Krai, Chita Oblast, Kemerovo Oblast, Buryatia and Khakassia.
In February 2007, SUEK and Gazprom agreed to establish a joint company on the basis of their electricity and coal assets. The shares of new company would have been divided on the basis of 50% plus 1 share to Gazprom and 50% minus 1 share to SUEK. However, that deal was abandoned.
In June 2010, SUEK obtained regulatory approval to list up to 25% of its shares abroad. However, in August 2010 the IPO was postponed for an unspecified period.
In December 2010, the Federal Antimonopoly Service determined collusion by SUEK and two other coal producers. These accusations were denied by SUEK.
In February 2012, SUEK bought 24.9% stake in the Murmansk port.
Moody's Investors Service has assigned a Ba3 corporate family rating (CFR) and a Ba3-PD probability of default rating to SUEK in October 2013. The assignment of ratings to SUEK follows the company's corporate reorganisation, as a result of which hard coal assets and logistics assets (Vanino Sea Bulk Terminal and Murmansk trade sea ports) will continue to be directly controlled by SUEK OJSC (100% subsidiary of SUEK) while brown coal deposits will be spun off and will be controlled directly by SUEK.
SUEK provides about 38% of coal in the Russian market and about 25% of Russian coal exports. It develops Kharanor, East, and Tugnuisky deposits of coal, and has a license for the development of the Nicholas deposit. In 2015, SUEK produced 97.8 million tons of coal.
In addition to the coal mines, SUEK was a shareholder in several Siberian and Far-Eastern power companies, most prominently in Kuzbassenergo (TGK-12) and Yenisei TGK (TGK-13). However, in April 2011 the company announced a plan to de-merge its power assets. As the first stage of de-merging, the power assets were transferred to Siberian Energy Investments Ltd., a holding company controlled by the SUEK's major shareholder Donalink Ltd.
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Wikipedia