In the January to August period of the current year the steel-making subsidiaries of Metinvest, Ukraine’s largest vertically integrated mining and steel group, saw an 8% increase in their crude steel production to 9.762 million tons, a 6% rise in their finished steel production to 7.024 million tons and a 7% increase in their pig…
It is reported that Yenakievo Iron and Steel Works (ENMZ) increased net losses in H1 2011 by 29% YoY to $78 million, but cut them in half QoQ to $26 million in Q2. Azovstal Iron and Steel Works (AZST) posted $19 million in net losses in H1 2011 after recording $12 million in net profit…
Ukrainian steel companies reported their financial statements for the Q1 2011, which turned out to be much worse than expected.Yenakievo Iron and Steel Works posted negative EBITDA of $45 million which increased 1.5 times YoY, net losses almost doubled to $52 million. Mariupol Ilyich Iron and Steel Works’ net losses increased by a factor of…
Metinvest will become the first and only company in Ukraine to offer clients a maximum wide product range of structural shapes. Starting with Q2 of 2011 the network of service metal centers will be able to offer a full product range of structurals for their clients, including items that were not available before. The output…
Metinvest announced that it plans to increase efficiency of its Yenakievo Iron and Steel Works by improving the production site administration and management. The planned steps, taken within the frame of Metinvest’s ongoing continuous improvements, reconstruction and production modernization program are expected to result in growing margins of Yenakievo Iron and Steel Works due to increased…
Ukraine’s largest vertically-integrated mining and steel group Metinvest plans to increase the efficiency of the 160 ton basic oxygen furnace at its steelmaking subsidiary Yenakievo Iron and Steel Works (EMZ) following a UAH 100 million overhaul.The BOF overhaul at EMZ is planned to be carried out in June to July within the framework of the…
It is reported that in February steel output in Ukraine fell by 7% MoM largely due to the breakup in Yenakievo Iron and Steel Works and fewer work days in February. ALMK has been the growth leader with 11% steel output increase. According to a Millennium Capital analyst, ” The news is mixed for the…
It is reported that Yenakievo Iron and Steel Works, a steelmaking subsidiary of the Ukrainian mining and steel producing group Metinvest, plans to complete the construction of its new blast furnace No 3 by the middle of next year. The new BF No 3 is expected to be commissioned in July 2011 and will allow…