The net profit of Russian oil and gas pipe producer TMK dropped by 80.7% QoQ to $11 million in July-September, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue fell by 3.6% to $822 million, and gross profit decreased by 13.6% to $165 million. Adjusted earnings before interest, taxes, depreciation, and amortization…
Metalloinvest has concluded long-term contracts for the delivery of hot-briquetted iron to Magnitogorsk Iron and Steel Works (MMK), Tube Metal Company (TMK) and the ChTPZ group. Metalloinvest will supply 570 thousand tons of HBI: 200 thousand tons to MMK, 220 thousand tons to TMK and 150 thousand tons to ChTPZ. “These are the first long-term…
In January-September Donetsk region (without the antiterrorist operation zone) earned $2542.1 million from exports, down by 11.9% YoY. The region exported products to 101 countries. In particular, ferrous metals exports accounted for 76.3% of the total volumes. The regional companies exported $1.9 billion worth of ferrous metals, down by 10.6% YoY. Ferrous metal wares exports…
Energomashspetsstal has concluded agreements for the supply of forming rolls for ArcelorMittal iron and steel works in Spain and Romania. According to the company statement, two rolls for the cold-rolling mill will be produced for AM Sagunto SL (Spain), which processes rolled sheet for car industry. Rolls weighing 80 tons will be completely treated by…
Sergey Likhopud, who headed the department of legal matters in Severstal Management, has been appointed the general director of Vorkutaugol. “Sergey Likhopud became the director in a complex time. We have difficult tasks. I hope his knowledge and experience will lead the company out of the crisis situation”, Severstal BD chairman Alexei Mordashov said. (Ukrainian…
The Ministry of energy and coal industry of Ukraine is giving documents of Krasnolimanskaya state enterprise to the State Property Fund. According to the ministry decree, the department of corporate and property rights has to transfer the documents within 1 week. In 2015 Krasnolimanskaya mined 641.7 thousand tons of coal, down by 30.9% YoY. In…
The minister of energy and coal industry of Ukraine Igor Nasalik visited Severodonetsk in Lugansk region and met with the state regional administration. Nasalik said that the regional mines would receive financing of 1 billion UAH under government guaranties. “I have come to the Lugansk region to help. I want to see the situation at…
Three Cyprus-based companies, affiliated with Interpipe, have purchased 19.3% Nikopol South Pipe Works shares each from Transportno-Investitsionnye Tekhnologii LLC. The TIT LLC share decreased from 96.689302% to 38.675721%, while the share of Plamsted Limited increased from 0.000027% to 19.337914%, that of Wolbert Company Limited – from 0% to 19.33786%, and of Kamset Holdings Limited from…