1997

The Sibirsky Aluminum Industrial Investment Group is set up at the Sayanogorsk Aluminum Plant (SAP, Khakassia). Sibirsky Aluminum acquires Sayanal, Russia’s largest producer of foil, and the Dmitrovsky Experimental Can Plant in the Moscow Region. The plant begins an enterprise producing aluminum cans – the Company Rostar.

The Group sets up Soyuzmetallresource in Eastern Siberia. In Moscow, the Group sets up Pifagor asset management company.

1998

The Group assumes management of the Samara Metallurgical Plant, Europe’s largest manufacturer of rolled aluminum products.

The Group diversifies its investments by purchasing Aviacor in Samara, Russia’s only manufacturer of medium-haul aircraft, the Tu-154 and An-140, and Abakanvagonmash in Khakassia, the producer of railway containers and flatcars.

The Group establishes the Sotsium Private Pension Fund in Moscow.

1999

The Group acquires a stake in the Nikolaev Alumina Plant in Ukraine to secure its own supplies of raw materials for aluminum production.

2000

RUSAL is founded, consolidating the aluminum and alumina plants of Sibirsky Aluminum and Sibneft.

Controlling stakes in the Gorky Automobile Plant (GAZ) and the Pavlovo Bus Plant (PAZ) are acquired.

2001

Sibirsky Aluminum changes its name to Basic Element. Oleg Deripaska becomes Chairman of the company’s Supervisory Board.

RusPromAvto is founded to manage assets in the automotive industry. The acquisition of GAZ Group is finalized.

Sibirsky Aluminum acquires stakes in Eastern Siberia’s largest energy companies: Irkutskenergo and the Krasnoyarsk Hydropower Plant.

The group acquires controlling stake in Ingosstrakh-Soyuz Bank.

2002

Basic Element assumes management of Ingosstrakh, one of Russia’s largest insurance companies.

Formation of the forestry holding Continental Management is initiated. Acquisitions include pulp and paper mills in Siberia, as well as enterprises manufacturing cardboard, paper and corrugated packaging.

2003

Basic Element increases its stake in RUSAL and RusProm- Avto to 75 percent.

2004

Basic Element increases its stake in RUSAL and RusProm- Avto to 100 percent. Two new companies are founded: Russian Hotels and Element Leasing.

Sibirsky Aluminum acquires Kuban Airlines, as well as the Afipsky Oil Refinery in Krasnodar Krai.

2005

Basic Element creates the holding Russian Machines — its Manufacturing Sector.

Controlling stakes are acquired in GlavMosStroy, one of the largest construction holdings in Moscow and the Moscow Region, MosPromStroyMaterialy and MosMontazhSpetsstroy.

In Montenegro, controlling stakes are acquired in the Kombinat Aluminjiuma Podgorica (KAP) and the Niksic bauxite mine. These assets, together with shares in the alumina plant Cemtrade S.A. in Romania, are managed by Central and Eastern European Aluminum Company.

2006

As part of corporate restructuring, En+ Group – Energy Sector — is created.

Basic Element acquires a stake in Batu Mining, which holds licenses to develop 11 gold, silver and copper deposits and is the second-largest mining holding in Mongolia.

Altius Development is created with the objective of constructing shopping, commercial, entertainment, office and hotel facilities in Russia and Krasnodarsky Krai.

2007

United Company (UC) RUSAL is formed as a results of the merger between RUSAL, SUAL and the alumina assets of the Swiss company Glencore.

Russian Machines acquires about 20 percent of the Canadian company MAGNA, one of the world’s leaders in car components manufacturing.

Basic Element through its affiliates acquires significant stakes in major construction companies: Strabag in Austria (25 percent), Hochtief in Germany (9.99 percent) and Transstroy in Russia (50 percent).

Basic Element creates two new sectors, Aviation and Infrastructure, and thus increases its total number of sectors to seven.

In 2008, two sectors, Construction and Materials, and Infrastructure Construction and Development, are merged into one — Construction Sector.

2008

UC RUSAL acquires a blocking stake in Norilsk Nickel.

Basic Element increases its stake in Transstroy to 100 percent.

Due to global financial crisis, Basic Element relinquishes its stakes in Magna (Canada) and Hochtief (Germany), and Gazpromregiongaz acquires a stake in Bank Soyuz.

A holding company is formed around Glavstroy Corporation which will incorporate all construction assets of Basic Element.