Severstal Steel Decisions is increasing its manufacturing capacities by purchasing a second Voortman V250 machine to drill plates. The new machine is purchased under an investment program to modernize the manufacturing site in Orel with the total cost of 100 million rubles. The Severstal Steel Decisions works is situated in the city of Orel at…
In 2018 Nordgold net profit decreased by 45% YoY, to $91.9 million. EBITDA dropped by 10%, to $470.2 million. Revenue fell by 6%, to $1.143 billion. In Q4 2018 the company had a net loss of $17.3 million against $17.3 million of profit in Q3. EBITDA went up by 26%, to $124.7 million, and revenue…
Capital investment projects will become the main focus for the Metinvest group this year. “We have recently commissioned the continuous casting machine No. 4 at the Mariupol Ilyich Iron and Steel Works, but this is only the beginning of our large-scale investment program, as it allows us increasing our steel output by 1 million tons.…
On April 20, ArcelorMittal Kriviy Rih will shut down its largest blast furnace No. 9 for capital repairs. The work is scheduled to be completed in 45-48 days. The company will replace cooling plates of the furnace and the charging equipment, repair the shell, concrete spray the furnace and apply refractory concrete to the hearth.…
Pobuzhye Ferronickel Plant has overcome the negative personnel dynamics by increasing salary by 38% in H2 2018. “In December 2018 we hired 11 people more than resigned. The people started returning to the plant”, the company CEO Oleg Bespalov said. Earlier a part of the employees moved to the neighboring Poland to seek jobs. The…
In 2019 Asha Iron and Steel Works intends to increase output. In particular manufacture at the electric arc furnace shops Nos. 1 and 2 is to grow by 19% and by 5% YoY respectively, at the sheet-rolling shops Nos. 1 and 2 – by 4.1% and by 17%. While the sheet-rolling shop No. 3 has…
Metinvest has reached a preliminary agreement on the discount of 20% on the delivery of its cargo by railroad to the ports of Mariupol and Berdyansk. “The agreement was reached during the meeting in the Ministry of infrastructure. Ukrzaliznytsia showed its readiness to provide such a discount. The discount will cover metal products only”, Berdyansk…
The state enterprise Ukrpromvneshexpertisa forecasts that in April scrap stocks at metal companies will grow by 15.4% MoM, to 75 thousand tons. Scrap stocks as of the end of February dropped to 79 thousand tons, or by 55% MoM. Scrap stocks in working days fell to 9 days, or by 25% below the norm. The…