Ukraine: Ferrexpo to squeeze out PGOK minority shares

Ferrexpo AG, owning 99.11% of Poltava Mining and Processing Works, the largest manufacturer of iron ore pellets in Ukraine, intends to use squeeze-out from minority shareholders.

At present Ferrexpo AG owns 189.313 million ordinary shares. (Ukrainian metal)

Russia: Neryungrinsky Pit turns 40

Neryungrinsky Pit, the largest coal mining enterprise on the Far East, has turned 40.

It was officially opened on March 19, 1979.

The coal node of the pit has the size of 16 square kilometers with the maximum depth of 315 meters. (Ukrainian metal)

Russia: ZEMZ masters new product type manufacture

ZEMZ has rolled a 08X18H10T steel strip with the size of 45×530 mm.

Previously the company only manufactured the strip with the size of 73×350 mm.

Rolling takes 10 days, while forging lasts for 2 months.

The first batch of strips will soon be shipped to Asha Iron and Steel Works. (Ukrainian metal)

Russia: copper wire rod to be produced in Kaliningrad region

The architecture, city building and prospective development agency of the Kaliningrad region has allowed creating a small enterprise to produce copper wire rod in the city of Ozersk.

A 1-2-storey building with the size of 516 square meters will be constructed.

The Baltkat LLC will construct the plant. (Ukrainian metal)

Russia: Revda Works net loss up in 2018

In 2018 Revda Non-Ferrous Metals Processing Works received 170.3 million rubles of net losses, up from 10.8 million rubles in 2017.

The company revenue grew by 1%, to 3.47 billion rubles.

Sales profit was negative, with losses at 28 million rubles, as opposed to the profit of 50 million rubles in 2017. (Ukrainian metal)

Belarus: BMZ saves $118.6 million in 2018 by reducing costs

The economic effect from introducing cost-saving measures in the Belarusian steel mill BMZ totaled $118.6 million in 2018 or over 9% of the prime cost of the products the company makes. The figures were mentioned by the company’s Director General Anatoly Savenok at a performance review conference of the company’s trade union. According to the…