Alexander Abramov

Alexander Abramov

Alexander Abramov ( _ru. Александр Григорьевич Абрамов) (born 1959) is a former scientist who became an industrial magnate as head of EvrazHolding, Russia's largest steel producer. Beginning in 1998, he has amassed the largest steel and iron empire in Russia, which employs 125,000 people, controls about 22 percent of the country's total steel output and has an annual turnover of $2 billion. Abramov was listed on the "Forbes" list of billionaires for 2007 with an estimated net worth of $5.6 billion. [cite news | url= | title=The World's Billionaires | publisher=Forbes | author= | date=8 March 2007 | accessdate = 2007-09-15]


EvrazHolding is a product of Russia's growth since the 1998 financial crisis and Abramov is representative of the second wave of Russian magnates who went into business after the best assets had been taken. Unlike the first wave of politically connected oligarchs, such as Mikhail Khodorkovsky and Vladimir Potanin, Abramov had neither political leverage nor financial resources to help him benefit from Russia's chaotic privatisation of the 1990s. In recent years Evraz-Holding has emerged as one of the most aggressive vertically integrated business groups in Russia. Its assets include three large steel mills, three coalmines and several ore-enriching plants, as well as a large commercial port, Nakhodka, in the east of the country.

He graduated from the elite Moscow Institute of Physics and Technology [ [ DMCP graduates] . Class of 1982] - Russia's answer to the Massachusetts Institute of Technology. By the age of 31 he was a deputy head of the Institute of High Temperatures, a research base for Russia's space and defence programme. But by 1990 state funding for research institutes dried up, forcing Abramov to go into business. One option was to sell high technologies created by his institute. But he calculated it would take four to eight years to turn a scientific application into a commercial product.

Commercial Entrepreneurship

He used his contacts with Russia's steel mills, which used high-temperature technologies, and offered his services not as a scientist but as a metal trader. Trading was a popular and quick way to make money in Russia in the early 1990s. The economy was shrinking, non-payment was a chronic problem and any offer of cash from a trader was welcomed by factories. By 1997, trading was less profitable and many trading companies, including Abramov's, were owed large sums by producers. Abramov began buying factories and swapped debt for equity in the Nizhny Tagil steel mill, while also buying stakes in its rail-producing plant from other shareholders.

While the first wave of Russian oligarchs grabbed whatever assets they could, Mr Abramov acquired them in a much more focused way. He decided to build a monopoly for rail and steel construction products and looked for factories that would give him synergies. The only other big factories making these products were in the industrial region of Kemerovo, also home to Russia's largest coalmines. Using his old trading contacts with coalmine bosses, Abramov was introduced to Aman Tuleev, populist governor of the region.

The two factories Abramov was interested in were in bankruptcy in 1998. Salaries had not been paid for up to eight months and strikes were breaking out. Tuleev needed good managers. Abramov needed the two factories and soon a deal was made. As a state creditor, Tuleev would help appoint external managers loyal to EvrazHolding to run the steel mills. Abramov would pay salaries and taxes, guarantee jobs and support Tuleev's social projects. This pitched Abramov against Alfa Group, one of the most influential oligarch groups, which controlled one of the factories. While groups such as Alfa were shedding non-core assets, Mr Abramov and his like were building empires. [The science of forging a steel empire, Financial Times (UK), August 27, 2003] In June 2005 EvrazHolding was listed on the London Stock Exchange. Five months later, Abramov resigned as group president but remains a member of the board.


ee also

*List of billionaires

Wikimedia Foundation. 2010.

Нужен реферат?

Look at other dictionaries:

  • Abramov — Abramov, Abramova, and Abramoff are variations of the same patronymic surnames, meaning son of Abram , the Biblical figure. The names are most prevalent among Jews.People*Alexander Abramov (b. 1959), Russian businessman *Alexander Konstantinovich …   Wikipedia

  • Alexander Anikin — Alexander Anikin, en ruso: Александр Сергеевич Аникин, nació en 1917 y murió en 1970, fue jugador, entrenador de voleibol y embajador soviético. Fue Jugador del equipo voleibol del FC Lokomotiv Moscú en Moscú, cuando ganó la medallia de plata de… …   Wikipedia Español

  • Alexander V Frolov — Infobox Person image size = 150px name = Alexander V Frolov caption = birth date = 1964 birth place = death date = death place = other names = known for = occupation = CEO and Chairman of the Board, Evraz Group website =… …   Wikipedia

  • Alexander Konstantinovich Abramov — ( ru. Александр Константинович Абрамов) (1836 1886) was a Russian general. Serving under general Mikhail Chernyayev during the time of Russia s conquest of Central Asia, Abramov is perhaps best known for leading the siege against the Uzbekistan… …   Wikipedia

  • Alexander II of Russia — Alexander II Alexander II by Sergei Lvovich Levitsky 1870 (The Di Rocco Wieler Private Collection, Toronto, Canada) Emperor and Autocrat of All the Russias Reign …   Wikipedia

  • Alexander Lasarewitsch Abramow-Mirow — (russisch Александр Лазаревич Абрамов Миров, wiss. Transliteration Aleksandr Lazarevič Abramov Mirov; auch Jakow als Vorname überliefert; Pseudonyme: Meirowitsch, Aleksandrow, Lasarew; * 19. Oktober 1895 in Šiauliai; † 25. November 1937 in… …   Deutsch Wikipedia

  • Abramov — Abramow ist der Familienname folgender Personen: Alexander Lasarewitsch Abramow Mirow (1895–1937), sowjetischer Komintern und Geheimdienstfunktionär Andrei Wassiljewitsch Abramow (* 1935), ehemaliger sowjetischer Boxer Fjodor Alexandrowitsch… …   Deutsch Wikipedia

  • Абрамов, Александр Григорьевич — Председатель совета директоров Evraz Group Председатель совета директоров Evraz Group с декабря 2008 года, до этого занимал данный пост в 2005 2006 годах, а до конца 2005 года был еще и президентом компании. Бывший генеральный директор ООО… …   Энциклопедия ньюсмейкеров

  • Presidential Administration of Russia — The Russian presidential administration (also known as Staff of Russia’s president, Presidential Executive Office, in Russian: Администрация Президента Российской Федерации)) is the executive office of Russia s president created by a decree of… …   Wikipedia

  • Абрамов, Александр Сергеевич — В Википедии есть статьи о других людях с такой фамилией, см. Абрамов. В Википедии есть статьи о других людях с именем Абрамов, Александр. Александр Сергеевич Абрамов …   Википедия

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”