Italy’s Genoa has finished constructing a bridge in place of the previous one, which collapsed on August 14, 2018. The reason of the accident was the destruction of a ferroconcrete rope. Under the project to restore the bridge, Metinvest has become the main steel supplier. Semi-finished products were manufactured at Azovstal, while high-quality rolled metal…
Barlenco Ltd. (Cyprus), affiliated with Metinvest, intends to use its right to squeeze out shares of Zaporozhogneupor minority holders. On July 6, Zaporozhogneupor received a notification from shareholders on reaching the dominating controlling shares on July 3. Prior to this, Metinvest B. V. owned 2,650,697 shares, or 45.385539% of the total, Zaporizhstal – 2,874,068 shares…
Metinvest is at the final stage of negotiations with the Black Sea Trade and Development Bank on a 7-year EUR 62-million loan, approved by the bank board. The group will use the funds to carry out its investment program and replenish working capital. The financing terms will be finalized when signing the documents. (Ukrainian metal)
In April, Metinvest B.V. received $742 million of revenue, down by 13.2% MoM. EBITDA dropped by $45 million, to $126 million. In particular, the corrected metal division EBITDA totaled $64 million ($108 million in March) and mining division – $94 million ($100 million). Metal division revenue fell from $672 million to $580 million, while that…
Quick recovery of the business activities in China has not only positively influenced Metinvest mining segment, but also allowed it to supply steel products there. “China is not our traditional customer as to metal products, but it is our long-term market for iron ore raw materials”, the group CEO Yuri Ryzhenkov said. “With the suffering…
During the coronavirus quarantine lockdown, Metinvest enterprises carried out 21 capital repairs of machinery and mastered manufacture of 16 new types of products, having spent 331 million UAH on modernization. In particular, Azovstal repaired 16 main machines. Investments totaled 126 million UAH. Mariupol Ilyich iron and Steel Works finished 5 capital repairs of main and…
In January-March, Metinvest decreased revenue by 11% YoY, to $2.536 billion. The decrease was mostly due to the drop in sale prices following global decrease, as well as the influence of the COVID-19 pandemic on the business activity and demand for steel. Revenue in Ukraine decreased by 6%, to $726 million. At the same time,…
In January-March, Metinvest Zaporozhye plants – Zaporizhstal, Zaporozhogneupor, Zaporozhkoks and Zaporozhye Foundry-Mechanical Works – paid over 700 million UAH of taxes to the budgets of all levels. In particular, Zaporozhye city and regional budgets received some 202 million UAH, down by 0.9% YoY. Earlier, the Metinvest Group waved tax holidays, provided by the state due…
