Metinvest plans to finish restructuring debt on eurobonds and pre-export financing (PXF) and issue just over $1.971 billion in new bonds on March 22, the Ukrainian mining and metallurgical holding said in a statement filed with the Irish Stock Exchange. The holding will also complete the formalities for a new PXF facility worth $1.109 billion.…
The enterprises of Metinvest mining and metallurgical group in the territories of Donetsk and Luhansk regions, temporarily uncontrolled by Ukrainian authorities, have announced the cancellation of all the letters of attorney they issued earlier. According to the announcement, the letters of attorney were canceled by PJSC Yenakievo Iron and Steel Works, PJSC Khartsyzsk Pipe Works,…
Metinvest-PromService LLC, created on the basis of the repair subdivisions of Azovstal, Mariupol Ilyich Iron and Steel Works and Yenakievo Iron and Steel Works, all parts of Metinvest, announced of its decision to open a subsidiary in Zaporozhye to service local assets. According to the company CEO Mikhail Rubtsov, because of the railroad blockade the…
The Ukrainian market of coated metal is reviving after a fall in 2014-2015 thanks to the rise in the construction. According to Metinvest marketing director Roman Kurashev, in 2016 galvanized steel consumption in Ukraine increased by 26% YoY, to 298 thousand tons, and this year it is expected to reach 307 thousand tons, almost on…
Following a request by the non-recognized republics to re-register legal entities in the so-called “DNR” and “LNR”, Metinvest declares a complete loss of control over the operations of all assets on the temporarily non-controlled territory (NCT). Unidentified people arrived at the group’s enterprises and demanded that the assets be re-registered under the jurisdiction of the…
In 2016 Metinvest companies received $45 million of additional profits from selling new products, that they started producing in 2010-2016. The 2016 share was $6 million. According to the group press service, last year it started producing 49 new types of products. The main consumers were the construction sector, machine-building and pipe industry. In 2010-2016…
In December 2016 Metinvest B.V. decreased revenue by 14% MoM, to $502 million. EBITDA in December 2016 totaled $132 million, up by 18% MoM. Metal division EBITDA in December 2016 was $30 million ($48 million in November), mining division – $110 million ($79 million). The total revenue of the metal division was $412 million, mining…
Metinvest could lose $30 million a month because of the economical blockade of Donbass, according to Dragon Capital. The company notes that Metinvest had to stop operation at two of its enterprises, which were its main asset. On February 21, Yenakievo Iron and Steel Works and Krasnodonugol, situated on the occupied territory, stopped operation because…