Metinvest Yenakieva inks project implementation pact with ING Bank

Yenakievo Iron and Steel Works part of Metinvest Group signed the Joint Project Implementation Agreement with ING Bank NV. The Agreement stipulates service delivery in the field of the Kyoto Protocol mechanisms aiming at energy saving technologies implementation, reduction of environmental impact of the enterprise down to a technically feasible minimum and improvement of the…


Ukrainian steel market in 8 months shrinks by 43 pct YoY

According to the data issued by metal trading enterprise Ukrainian Mining and Metallurgical Company, in January to August 2009 Ukraine steel market capacity registered a 42.9%YoY to about 3.643 million tonnes. In August this year steel product deliveries in the Ukrainian domestic market amounted to 600,000 tonnes. Ukrainian Mining and Metallurgical Company said “Since October…


Donetsk Electrometallurgical Plant to restart operations

According to Mr Alexander Babikov head of the company supervisory board, Ukraine Donetsk Electrometallurgical Plant, the mini mill previously known as ISTIL intends to restart its production operations in the second half of September. Mr Babikov said in September Donetsk Electrometallurgical Plant plans to produce 63,000 tonnes of square billets of which 50,000 tonnes will…


Azovstal Steel held ecological tree planting campaign

Azovstal Steel Plant operating under umbrella of Metinvest Group held an ecological tree planting campaign in the Generation Park of Ordzhonikidze District in Mariupol. The campaign was held as a part of the events dedicated to the plant’s 76th anniversary. Among the participants were representatives of the city management, employees of the plant representatives of…


Khartsyzsk Pipe releases August performance update

Khartsyzsk Pipe Plant, which is under Metinvest Group umbrella, produced 61,370 tonnes of big diameter pipes in August. In August the plant continued producing the pipes of the following diameter 1. 1,0675.9 mm 0 with external and internal anticorrosion coating 2. 1,2202.5 mm 6 with external anticorrosion coating. 3. 21,4205.7 mm and 1,4206.8 mm, 10G2FB…


System Capital Management pretax profit up in 2008

Ukrainian Journal reported that Donetsk’s System Capital Management announced it boosted consolidated audited pretax profit 70% to USD 3 billion in 2008 from USD 1.786 billion in 2007.

According to the report, consolidated gross income tax expenditure grew to USD 805 million from USD 379 million. (Ukrainian Journal)

Azovstal steel roll output in 8 months dips by 33pct YoY

Interfax reported that the Metinvest holding’s Azovstal, one of Ukraine leading steelmakers saw roll output contract 33% oY to 2.564 million tonnes in January to August 2009 compared to the same period of 2008, including 446,800 tonnes in August. Crude steel production fell 33.6% to 2.781 million tonnes in the period, pig iron output declined…