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In H2 2017 Raspadskaya will clear $170-180 million of its debt and could ponder the long-term clearing during the year on the background of high coal prices. “We want to clear some $180 million of Raspadskaya debt. If there is enough free money, we could clear it quicker”, the company CEO Sergey Stepanov said. As…
DetailsIn 2016 Corum Group increased its revenue by 18.9% YoY, to 2.059 billion UAH. According to the company statement, its EBITDA came off the negative level and reached 105.4 million UAH. Contracts totaled 2.445 billion UAH, up by 32% YoY. The company loan portfolio decreased almost 2-fold, to 1.08 billion UAH. Sales increased by 18.9%.…
DetailsSalary debts to state miners total 410 million UAH. According to the chairman of the Independent Miners Union Mikhail Volynets, unions are negotiating clearing the debts with the officials. This debt equals a monthly salary fund. The debt accumulated in 2015 and 2016. Officials promised to help. (Ukrainian metal)
DetailsIn 2016 Metalloinvest increased revenue by 5.4% YoY, to 283.1 billion rubles. Profits rocketed 7-fold, to 72.5 billion rubles. Fixed liabilities dropped from 268.3 billion rubles, to 248.2 billion rubles, but current liabilities decreased 14-fold, to 3.5 billion rubles. The Metalloinvest board of directors decided to pay 14.2 billion rubles of dividends. Last year the…
DetailsOn April 8-9, the cities of Shakhty and Rostov-on-Don witnessed strikes as to the situation on the Rostov Electrometallurgical Works, which stopped paying salary to its employees in January. The employees protested against the violation of the labor legislation. They addressed the local authorities asking them to deal with the REMZ owner Vadim Varshavsky and…
DetailsRyazan Pipe Works is developing manufacture at its RTZ-Ural site in the Republic of Bashkiria. The Bashkiria plant has been working for 6 years and in January-March produced 10.5 thousand tons of electric-welding pipes, up by 30% YoY. In March the plant shipped 3 thousand tons of pipes to customers. (Ukrainian metal)
DetailsThe Miorsk Metal-Rolling Works, being constructed, has ordered all the necessary equipment, including annealing mill, cold-rolling mill, packaging machines, etc. The first stage will see the capacity of the works at 150 thousand tons of tin-plate per year, growing to 240 thousand tons on stage two. The machinery will be put into operation in H2…
DetailsIn January-March Russian Coal mined 4.045 million tons of coal, up by 8% YoY. The highest growth in output was demonstrated by the enterprises of Krasnoyarskkraiugol – up by 16%. The company explains this with the high demand from the Asia-Pacific region. “Despite the decrease in coal consumption in Europe, the demand for this fuel…
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