Metinvest, a Ukrainian steel and mining group, began diversifying raw material supplies in 2014 considering the risks for assets in uncontrolled areas of Donbas. “We considered various plans of action in case given risks were realized. We’ve been working on this since 2014. Therefore, even then we began to diversify our supplies of raw materials…
The Metinvest mining and metal group has warned individuals and legal entities that are both residents and nonresidents of Ukraine against the illegal use of its property remaining at the enterprises in the non-controlled territory (NCT) that have taken over by representatives of the so-called “Donetsk People’s Republic” (DPR) and “Luhansk People’s Republic” (LPR). The…
Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (“Metinvest”), announces that following the successful debt restructuring completed in March, international rating agencies Moody’s Investors Service (“Moody’s”) and Fitch Ratings (“Fitch”) have both upgraded Metinvest’s credit ratings to ‘Caa2’ (‘stable’ outlook) and ‘B’ (‘stable’ outlook), respectively. According to a…
Metinvest denies information in mass media of buying Dneprovsky Iron and Steel Works, a part of the Industrial Union of Donbass. The group also reported canceling all its labor connections with employees on the uncontrolled territories, including the ex-CEO of Yenakievo Iron and Steel Works Alexander Podkorytov. “The contract with Podkorytov has not been prolonged.…
In 2016 Metinvest paid over 14.1 billion UAH of taxes to budgets of all levels. According to the company statement, despite the increase in expenses and tariffs, as well as infrastructure problems and the ongoing military activity, the group was able to keep taxes paid on the level of 2015. (Ukrainian metal)
Metinvest has transferred its shares in Zaporizhstal from two resident companies, Zaporizhstal-RS LLC and Gals-Invest LLC (both based in Zaporizhia) to Cypriot companies Brandfeld Finance Ltd. and Lasartico Holdings Ltd. According to a report by Zaporizhstal in the information disclosure system of the National Commission on Securities and the Stock Market, with reference to the…
Metinvest and Smart Maritime Group have reached an agreement on organizing a servicing center at the SMG Kherson and Nikolayev shipyards. The new service provided to Metinvest clients will include various treating and processing of plates and sheets. According to the company statement, the possibility to buy rolled metal after primary treatment will allow Ukrainian…
Metinvest B.V. (the Netherlands), the parent company of Metinvest international vertically integrated steel and mining group of companies, announced it had completed the restructuring of its financial debt totaling $2.3 billion. According to the group, as a result of the agreement achieved three issues of the group’s eurobonds maturing in 2016, 2017 and 2018 were…