OREANDA-NEWS. Skoda Steel, a part of OMZ (Uralmash-Izhora Group) (RTS: OMZZ; LSE: OMZD; OTC: UHMVY), has been renamed Pilsen Steel as part of the company's strategy. The new logo of the company was unveiled at an OMZ conference which took place April 19 in Prague.

Skoda Steel and Skoda JS have been OMZ subsidiaries since 2004.

In 2005-2006 Skoda Steel further improved its key operational figures. In 2006 revenues of the company reached USD 193,047 million, 8% higher than projected. Net profit amounted to USD 33,284 million (160% higher than projected).

The rebranded Skoda Steel will continue producing mechanically processed forgings ranging from 1 to 80 metric tons. Currently the company is the world leader in the production of forged rolls for wind power stations and the world's second largest supplier of crankshafts for four-stroke diesel engines. Other products include rotors, tail shafts and rolls. The company also sells steel and iron castings of up to 200 tons, particularly castings for steam and gas turbines, engine blocks, stands for rolling mills and processing machines, as well as castings for shipbuilding.