Metinvest has been prolonged the rent of the Phenol State Works in the city of Toretsk, Donetsk region. The previous agreement was concluded on September 25, 2001 and was valid through September 25, 2018. The premises of the works are rented by Inkor and Co, LLC, a part of Metinvest. (Ukrainian metal)
From October 1 Metinvest is increasing wages of its employees on average by 10%. According to the group press service, the experienced repairmen and technical engineers will see their salary grow by 15%. The wages of master workers and ordinary workers will increase by 10%, and of administration personnel – by 7%. This year Metinvest…
In January-June Metinvest B.V. increased investments 2.2-fold YoY, to $420 million. Metal segment accounted for 64% of investments (37% in H1 2017), mining – 35% (61%) and corporate expenses – 1% (2%). In particular, Mariupol Ilyich Iron and Steel Works received $122 million ($35 million), Azovstal – $76 million ($20 million), SevGOK – $51 million…
Metinvest, the vertically integrated steel and mining group of companies, has secured additional long-term supply of high-grade coking coal by investing in production cooperation and acquiring up to 24.99% of some coking coal assets in Ukraine. This is in line with the group’s strategic priority of improving its self-sufficiency in coking coal to strengthen its…
Metinvest deal to buy 24.99% of Pokrovskoye Mine Group is one of the largest on the Ukrainian market in the past years. Metinvest paid $190 million for the stake. According to Eavex Capital, the whole company is estimated at $0.9-1.1 billion, thus the stake has been purchased at a market price. The mine group belonged…
Panyutino Wagon-Repair Works, a subsidiary of Ukrzaliznytsia (Ukrainian Railways) has ordered Metinvest-SMC LLC the delivery of metal valued at 55.88 million UAH. This year the company will supply 2520 semi-finished axles manufactured by Dneprovsky Iron and Steel Combine at 22176 UAH apiece. The price of the contract is 0.1% below the expected cost of the…
Metinvest has indirectly become a shareholder in the Pokrovskoye Mine Group, the largest coking coal manufacturer in Ukraine. Since Q2 2017, 57.29% of Pokrovskoye have been transferred from Donetskstal to Industrial Coal Holding LLC (ICH). At present Metinvest B. V. holds 24.99% in ICH. (Ukrainian metal)
In January-June Metinvest increased steel output by 4% YoY, to 3.79 million tons. In particular, Mariupol Ilyich Iron and Steel Works increased output by 8%, to 1.613 million tons and Azovstal – by 1%, to 2.181 million tons. Pig iron manufacture grew by 14%, to 4.292 million tons, with Mariupol Ilyich output up by 23%,…