Ukraine: EMSS increases salary

Energomashspetsstal has hosted a conference with the employees. The company director of economic issues Lyudmila Ulyaschenko and the union chairman Victor Serbin made the reports. In her report Lyudmila Ulyaschenko touched upon the main economic results of the previous year, calling them successful. “In particular, the average salary level last year increased by 20%. In…


Russia: Petropavlovsk concludes forward contract with Gazprombank

The gold-extracting company Petropavlovsk has concluded an agreement with Gazprombank for the delivery of 96 thousand ounces of gold. The deliveries will be prepaid. “This forward contract with Gazprombank provides us with much flexibility in working capital management”, Petropavlovsk finances director Andrei Maruta noted. As of late 2017 Petropavlovsk had forward contracts for the delivery…


Latvia: winner of KVV Liepājas metalurgs rolling stock auction to be checked

Security Institutions should check the winner of the auction for the sale of KVV Liepājas metalurgs rolling stock equipment – Austrian Smart Stahl GmbH, said Economy Minister Arvils Ašeradens. The minister said the buyer picked for KVV Liepājas metalurgs rolling stock equipment would be checked as soon as they transferred the money, thereby demonstrating readiness…


Russia: KUMZ profit down in 2017

In 2017 Kamensk-Uralsky Iron and Steel Works received 769.35 million rubles of net profit, down 9-fold YoY.

In 2016 the net profit exceeded 6.8 billion rubles.

Revenue grew by 10%, to 24.98 billion rubles.

Sales profit last year increased by 10%, to 3.97 billion rubles. (Ukrainian metal)