According to Mr. Amir Aisautov, head of mining and metallurgical development at the parent company System Capital Management, Metinvest will more than double steel output to 15-16 million tons next year after it has merged with the Mariupol Ilyich Iron and Steel Works.
He said that Metinvest aims to be the national mining and metals champion in ten years, preserving its vertically integrated structure focused on high added value with some of the lowest metal production costs in the world and state-of-the-art capacity. Metinvest has invested over $1.5 billion in upgrades in the last three years.
Metinvest reduced crude steel output to 7.2 million tons in 2009 from 8.2 million tons in 2008, but finished steel production fell only slightly, to 9.2 million tons from 9.4 million tons. Metinvest also produced 17.6 million tons of iron ore concentrate, 11.6 million tons of pellets, 9.6 million tons of coking coal and 4.1 million tons of coke last year.
Net revenue more than halved from $13.213 billion in 2008 to $6.026 billion in 2009, net profit plummeted from $2.803 billion to $334 million and earnings before taxes, depreciation and amortization shrank from $4.8 billion to $1.4 billion.
Metinvest owns steel producers Azovstal and Yenakiyevo Iron & Steel Works, Khartsyzsk Pipe Works, Avdeyevka Coke Chemicals Works, Krasnodon Coal and iron ore producers Northern, Central and Ingulets mining and beneficiation plants in Ukraine. It is about to integrate the Makeyevka Iron and Steel Works. (Interfax)
Much more about metal of Ukraine, Russia and other CIS-countries at https://metalukraine.com/
