Because of the shut down of several enterprises Metinvest had to reorient a considerable amount of its iron ore raw materials to China. “Because of the blockade and the loss of control over 4 major metal enterprises, some companies had to be shut down. So we had to ship more raw materials to China. We…
Metinvest mining and metallurgical group on April 24, paid bonuses for supporting Eurobond restructuring, the group said on the website of the Irish Stock Exchange (ISE). The press service of Metinvest reported that the amount of payment was about $9 million. In late May 2016, Metinvest and the creditors’ committee agreed Eurobond restructuring and PXF…
Metinvest notes the importance of Dneprovsky Iron and Steel Works, a part of the Industrial Union of Donbass, resuming operation, as it is the key consumer of raw materials on the Ukraine-controlled territory. “The company is very important for us. But I believe it is also important as an asset for its owners. That’s probably…
Metinvest, a Ukrainian steel and mining group, began diversifying raw material supplies in 2014 considering the risks for assets in uncontrolled areas of Donbas. “We considered various plans of action in case given risks were realized. We’ve been working on this since 2014. Therefore, even then we began to diversify our supplies of raw materials…
The Metinvest mining and metal group has warned individuals and legal entities that are both residents and nonresidents of Ukraine against the illegal use of its property remaining at the enterprises in the non-controlled territory (NCT) that have taken over by representatives of the so-called “Donetsk People’s Republic” (DPR) and “Luhansk People’s Republic” (LPR). The…
Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (“Metinvest”), announces that following the successful debt restructuring completed in March, international rating agencies Moody’s Investors Service (“Moody’s”) and Fitch Ratings (“Fitch”) have both upgraded Metinvest’s credit ratings to ‘Caa2’ (‘stable’ outlook) and ‘B’ (‘stable’ outlook), respectively. According to a…
Metinvest denies information in mass media of buying Dneprovsky Iron and Steel Works, a part of the Industrial Union of Donbass. The group also reported canceling all its labor connections with employees on the uncontrolled territories, including the ex-CEO of Yenakievo Iron and Steel Works Alexander Podkorytov. “The contract with Podkorytov has not been prolonged.…
In 2016 Metinvest paid over 14.1 billion UAH of taxes to budgets of all levels. According to the company statement, despite the increase in expenses and tariffs, as well as infrastructure problems and the ongoing military activity, the group was able to keep taxes paid on the level of 2015. (Ukrainian metal)