Metinvest to increase steel output by 61% after Ilyich deal
Metinvest, Ukraine’s largest steelmaker, plans to increase production by 61% this year after combining assets with competitor Mariupol Iron and Steel Works named after Ilyich and modernizing its plants.Mr. Sergiy Novikov, CFO of Metinvest, said the steelmaker expected to produce as much as 15 million tons of steel in 2011.He said the company would concentrate…