In January-June Metinvest B.V. increased investments 2.2-fold YoY, to $420 million. Metal segment accounted for 64% of investments (37% in H1 2017), mining – 35% (61%) and corporate expenses – 1% (2%). In particular, Mariupol Ilyich Iron and Steel Works received $122 million ($35 million), Azovstal – $76 million ($20 million), SevGOK – $51 million…
Metinvest, the vertically integrated steel and mining group of companies, has secured additional long-term supply of high-grade coking coal by investing in production cooperation and acquiring up to 24.99% of some coking coal assets in Ukraine. This is in line with the group’s strategic priority of improving its self-sufficiency in coking coal to strengthen its…
Metinvest deal to buy 24.99% of Pokrovskoye Mine Group is one of the largest on the Ukrainian market in the past years. Metinvest paid $190 million for the stake. According to Eavex Capital, the whole company is estimated at $0.9-1.1 billion, thus the stake has been purchased at a market price. The mine group belonged…
Panyutino Wagon-Repair Works, a subsidiary of Ukrzaliznytsia (Ukrainian Railways) has ordered Metinvest-SMC LLC the delivery of metal valued at 55.88 million UAH. This year the company will supply 2520 semi-finished axles manufactured by Dneprovsky Iron and Steel Combine at 22176 UAH apiece. The price of the contract is 0.1% below the expected cost of the…
Metinvest has indirectly become a shareholder in the Pokrovskoye Mine Group, the largest coking coal manufacturer in Ukraine. Since Q2 2017, 57.29% of Pokrovskoye have been transferred from Donetskstal to Industrial Coal Holding LLC (ICH). At present Metinvest B. V. holds 24.99% in ICH. (Ukrainian metal)
In January-June Metinvest increased steel output by 4% YoY, to 3.79 million tons. In particular, Mariupol Ilyich Iron and Steel Works increased output by 8%, to 1.613 million tons and Azovstal – by 1%, to 2.181 million tons. Pig iron manufacture grew by 14%, to 4.292 million tons, with Mariupol Ilyich output up by 23%,…
Metinvest has attracted a loan of 43.2 million euros for 7 years to finance the Mariupol Ilyich Iron and Steel Works. The loan is covered by the Austrian export guarantee issued by Oesterreichische Kontrollbank AG. The money will be spent to finance the construction of the continuous casting machine No. 4 at Mariupol Ilyich by…
Metinvest, the vertically integrated group of steel and mining companies, has settled another part of its pre-export finance (PXF) facility ahead of schedule. This underscores the group’s pledge to lower debt further following the conclusion of the debt refinancing in April, the largest transaction by a Ukrainian corporate to date. In it, Metinvest refinanced $2,271…
