Russia: OMK starts building pipe facility at Vyksa Works

Russia’s United Metallurgical Company (OMK) has launched construction of a 50-billion ruble seamless pipes facility at its subsidiary Vyksa Iron and Steel Works. “The goal of the project is to satisfy current and future demand in line and threaded seamless pipes, including pipelines for difficult production conditions and directional drilling by oil and gas companies…

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Ukraine: Makeevkoks elects supervisory board

Shareholders of Makeevkoks, situated on the Ukraine-uncontrolled territory, refreshed the supervisory board, by removing two of its members, as well as changing the auditor. The decisions were taken at the shareholders’ meeting on April 18. In particular, the shareholders have re-elected Igor Nadych and Olga Vinogorodskaya as members of the supervisory board for three years,…

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Russia: Korshunovsky GOK net profit up in Q1 2019

In January-March, Korshunovsky Mining and Processing Works received 1.227 billion rubles of net profit, up 5.7-fold YoY. Revenue grew 2.2-fold, to 3.675 billion rubles. The GOK fixed liabilities decreased from 352.6 million rubles to 337.8 million rubles, while short-term liabilities grew from 2.047 billion rubles to 2.053 billion rubles. Gross profit increased 18.5-fold, to 1.572…

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