The meeting of Amurstal shareholders decided to replace the CEO of the company. As a result, Grigory Freidin, representing the largest shareholder – Moscow businessman Pavel Baulsky, has become the new director. The new management suspects embezzlement of 2 billion rubles at the company. At present the company is not operating, as there is no…
The authorities of the Khabarovsk region are trying to maintain the normal operation of Amurstal. “The situation around the company has been created artificially. There are no economical reasons for it. Other sectors of the economy are also dependent on Amurstal. We understand what is going on and are actively working to make the company…
Law enforcers have searched steel plant Amurstal, owned by Torex Group’s subsidiary Torex-Khabarovsk, a spokesperson for the plant reported. A source in the law enforcement authorities of the Khabarovsk region said that investigative activities were held at the Torex offices in the region without disclosing the reason for searches. “The law enforcers were actually here…
Amurstal hosted a meeting with the delegation of Posco Deawoo. In 2018 a contract was signed for the delivery of 300 thousand tons of steel billets. “The Torex group of companies is selling the billets via two major companies – Samsung and Posco Deawoo. With them we have contracts. In the past two years Amurstal…
Torex-Khabarovsk LLC, managing the Amurstal works, intends in 2020 to start modernization of the manufacture with investments at 7.5 billion rubles. The modernization is necessary due to the underloading of capacities by more than 50% because of the shortage of scrap. After modernization the works capacity will grow 3.3-fold, from 900 thousand tons per year…
TOREX, owner of Amurstal in Komsomolsk-on-Amur, hopes to get a subsidy from the federal budget. The Ministry of industry and trade intends to provide major enterprises with support. The company plans to spend money to clear interest rate on loans, thus decreasing them by 4.5%. At present the ministry is choosing companies to participate in…
In January-February Amurstal shipped 121.7 thousand tons of metal via railroad, up from 106 thousand tons as planned. Sales grew both to the local market and abroad. According to the company CEO Sergey Kuznetsov, Amurstal can increase output to 80-85 thousand tons of metal per month, thus reaching 1 million tons per year. (Ukrainian metal)
In December 2018 Amurstal received 59 thousand tons of ferrous scrap via railroad. This is up from 10.3 thousand tons in December 2017. In January-December 2018 the company received 548.7 thousand tons of scrap, up 6.2-fold YoY. This is also the highest result in the past 3 years. (Ukrainian metal)