Ukraine has removed sanctions from Moldova Iron and Steel Works. Even though the works belongs to the Transnistria Moldavian Republic, but actually it is controlled by Russian Metinvest. The works was entered into the sanctions list on June 21, 2018. Prior to sanctions Ukraine supplied 80% of its exported scrap to the works. (Ukrainian metal)
In 2018 Metinvest purchased 23.71% of Yuzhkoks shares for $30 million. The group also bought 24.99% of Pokrovskoye mine group and Svyato-Varvarinskaya Processing Factory and 100% in Unisteel for $190 million, the latter owning the galvanizing line with the capacity of 100 thousand tons per year. “The acquisition of these shares will provide for a…
In 2018 Metinvest increased its sales in Ukraine by 35% YoY, to $3.34 billion. The growth was due to the increase in domestic demand. “Metal consumption in Ukraine grew by 4%, to 5.7 million tons”, the group noted. Pellets and coke sales increased by 58% and by 41% respectively. The share of Ukraine in the…
In 2019 VSMPO-Avisma intends to produce 35 thousand tons of titanium products, up by 4% YoY. Last year the corporation manufactured 33.7 thousand tons of titanium products, 40 thousand tons of spongy titanium and 4.5 thousand tons of aluminum. In the next 8 years (2019-2026) the enterprise intends to invest in its development some $700…
Rusal is finishing preparation for the construction of a pilot line to produce finely divided precipitated aluminum hydroxide with the capacity of 5 thousand tons per year at the site of the Achinsk Alumina Plant. Investments in the project will exceed 500 million rubles. Aluminum hydroxide is used in the insulation of cables for nuclear,…
In 2018 Metinvest received $1.188 billion of net profit, up by 93% YoY. According to the group statement, revenue grew by 33%, to $11.88 billion, EBITDA – by 23%, to $2.513 billion, gross profit – by 28%, to $2.787 billion and cash flow – by 85%, to $1.103 billion. At the same time the debt…
Abinsk Electrometallurgical Works intends in late 2019 to put into operation its 5th stage and start producing wire with aluminum-zinc coating. The capacity of the complex will be 24 thousand tons per year. At present there is no manufacturer of such wire in Russia. Investments in the project will total some 2.9 billion rubles. Recently…
From May 1, ArcelorMittal Kriviy Rih, the biggest company of mining and metallurgical complex of Ukraine, is raising salaries of all its employees and employees of its subsidiaries by 15% on average and for certain professions – up to 20%. Last year, ArcelorMittal Kriviy Rih raised the salary twice – in May and October. In…