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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Ukraine: Lvivugol miner fatally injured

On April 21, a Stepnaya mine employee of the state enterprise Lvivugol has been mortally injured.

The locomotive driver was only 32 years old.

A special commission to investigate the accident has been created. (Ukrainian metal)

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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Ukraine: Kremenchuk Steel Works output down in Q1 2019

In January-March, Kremenchuk Steel Works produced 4292 tons of casting, down by 27.7% YoY.

Moreover, the plant is forced to fire over 500 employees in March-April.

This is done in order to bring the number of employees to the order volume and the debt to Ukrzaliznytsia. (Ukrainian metal)

Russia: RUSAL and Braidy Industries to construct a greenfield aluminum rolling mill in Kentucky

RUSAL and Braidy Industries Inc., a US-based holding company which owns both Veloxint, an MIT-incubated lightweighting solutions company, and NanoAl, a Northwestern University incubated materials research and technology company, announced an intent to establish a joint project in Ashland, Kentucky, USA to produce flat rolled aluminum products for the US automotive industry. The design capacity…

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