News from Ukrainian Companies |
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June 2007
Azovstal to reinvest 2006 profit in modernization
Shareholders of Azovstal voted at their annual meeting on June 23 to waive dividends for 2006, and leave more than UAH 1.048 billion of last year's net profit undistributed and put UAH 55.158 million in the reserve fund. The retained earnings would be used to finance the plant's modernization program. Azovstal is continuing and in coming years will intensify an extensive modernization program that covers all production processes, plant General Director Dmytro Livshits said. "Therefore shareholders made the only correct decision: to direct more than UAH 2 billion toward further sustained development of the plant and strengthening its leading positions on the world steel market," he said.
25.06.2007 Source: press release of Azovstal
Arcelor Mittal Kryviy Rih to raise USD 500 M EBRD loan
OJSC Arcelor Mittal Kryviy Rih (formerly Kryvorizhstal in Dnipropetrovsk
region) is to raise a USD 500 million loan from the European Bank for
Reconstruction and Development (EBRD). The funds will be spent on optimizing
production equipment use, increasing production performance and streamlining
the production process, reads a press release circulated by Dnipropetrovsk
Regional Administration following a meeting between top EBRD managers
and the regional authorities.
20.06.2007 Source: Interfax
Former Leman Ukraine head named CEO of Ukrainian Mining & Metallurgical
Co.
The Industrial Union of Donbas (IUD) has appointed Nikolai Boichenko
general director of its Ukrainian Mining & Metallurgical Company,
one of the country's biggest metals merchants. Boichenko, the former
head of Leman Ukraine, a metal distribution chain controlled by Metinvest,
was appointed to the new post on June 12. Besides its metals distribution
network in Ukraine, Ukrainian Mining & Metallurgical also owns a
distribution network in Poland, is actively involved in the management
of a Hungarian chain of metal service centers, and is continuing to
build its own chain in Russia. The company's annual sales of rolled
metal products total about 1 million tonnes. UMMC is traditional partner
of Metal-Forum of Ukraine.
20.06.2007 Source: press release of Ukrainian Mining & Metallurgical
Co.
Interpipe Niko Tube and Interpipe Nikopol Pipe Co. To merge
CJSC Interpipe Nikopol Seamless Pipe Plant Niko Tube and CJSC Interpipe
Nikopol Pipe Company (both based in Nikopol in Dnipropetrovsk region),
part of the Interpipe Group, will merge into Interpipe NIKO TUBE Ltd.,
stockholders in these companies decided at a meeting last week. The
share of Interpipe Niko Tube will be 83.85% of the united company, the
statutory fund of which will equal to the united statutory funds of
the two companies or UAH 256.829 million.
Niko Tube is Ukraine's biggest producer of seamless pipe with diameters
of 32 to 114 mm for the oil refining, geological exploration and engineering
sector, as well as general-purpose pipes. The plant has the capacity
to produce more than 280,000 tonnes per year.
Nikopol Pipe Co. specializes in seamless steel pipes with diameters
of 146 to 325 mm for the oil and gas industry, engineering sector and
general-purpose pipes. It can produce more than 200,000 tonnes per year.
Interpipe is one of Ukraine's major private corporations. Since 1990,
it has been involved in various sectors of the economy, such as metallurgy,
raw material resources and engineering. It is the world's fourth biggest
pipe company, and the world's third biggest producer of railway wheels.
The corporation occupies 4.3% of the world market for seamless pipes
and 12.8% of the world's railway wheel market.
16.06.2007 Source: Interfax
ZAZ car output up 44.4% in 5 months
CJSC Zaporizhia automobile plant (ZAZ), Ukraine's largest car producer,
in January through May increased car output by 44.4% year-on-year, to
97,040 cars. The plant assembled 1,022 Tavria cars, which is 4.3 times
less than year-on-year, 1,841 Tavira-Pickups (1% less), 5,960 Slavuta
cars (almost 30% less) and 7,960 Sens cars (2.4 times more). Lanos [ETH]cents-150
output grew by 62% year-on-year, to 22,250 cars, Opel-CKD output was
up by 43.8%, to 2,400, and OpelAstra-[ETH] car production rose by 44.8%,
to 773 cars. The plant cut VAZ-21093 car assembling by almost three
times, to 1,290 cars, while VAZ-21099 output grew by 7.2%, to 6,460
cars. The plant also assembled 5,470 VAZ-2107 cars, which were not produced
in January through April 2006. Moreover, over this period, the plant
assembled 38,440 cars of other brands (including trucks and buses),
while year-on-year a total of 22,340 cars were assembled.
15.06.2007 Source: Interfax
Mittal Steel Kryviy Rih to reinvest 2006 profit
Mittal Steel Kryviy Rih (former Kryvorizhstal) will spend 95% of last
year's net profit on new equipment and put the other 5% into its reserve
fund. Net profit grew 82.7% in 2006 to UAH 2.93 billion. The company's
shareholders voted at their AGM to re-name the steel mill, which will
be known as OJSC Arcelor Mittal Kryviy Rih. Mittal Steel Kryviy Rih
is Ukraine's biggest steel mill and partner of Metal-Forum of Ukraine.
15.06.2007 Source: Interfax
Microsoft-Ukraine to optimize management systems for mining division
of Metinvest Group
Metinvest Holding jointly with Microsoft-Ukraine has started realizing
a project to standardize software and optimize IT-infrastructure using
Microsoft software at OJSC Pivnichny Ore Mining and Processing Mill
and OJSC Tsetralny Ore Mining and Processing Mill (both based in Kryvy
Rih in Dnipropetrovsk region). The tentative cost of the project is
over UAH 6.3 million. The investment in the acquisition and licensing
of new software at the mining division of Metinvest Group would exceed
UAH 10 million.
15.06.2007 Source: Interfax
Metinvest will implement at its enterprises a unique for Ukraine
labor safety system
Metinvest started development, implementation and certification of Industrial
Management Safety Systems at its enterprises under the standard OHSAS
18001:1999 which is the most popular at the leading enterprises all
over the world. First time in Ukraine the best world standards in labor
safety will be implemented at one time at several different largest
industrial enterprises of the country. BUREAU VERITA was chosen to be
a partner in development, implementation and certification of Industrial
Safety Systems. Investments for development of such program will make
more than USD 1 mln.
13.06.2007 Source: press release of Metinvest
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Metinvest to reconstruct Azovstal and Yenakieve steel mills by 2012
Metinvest Holding, which manages the metallurgical assets of CJSC System
Capital Management (SCM), plans to reconstruct the Azovstal and Yenakiyeve
steel mills. Ihor Korytko, head of Metinvest Holding's steel division,
said that the upgrade is aimed at increasing the efficiency of the production
facilities and cutting production costs. He said that the holding plans
to become the leader in low-cost production of liquid steel not only
in Ukraine, but in the world. The holding is starting this year the
building of a new blast furnace at the Yenakiyeve steel mill. A total
of three blast furnaces will be built. This year the holding will start
building a new blast furnace No. 1 at Azovstal as well, after which
the holding will start reconstruction of blast furnace No. 5. Gradually
all of the blast furnaces will be upgraded at the mill. The holding
plans to upgrade steelmaking facilities and stop using open-hearth production
facilities. The holding also plans to stop using ingot-casting methods
and to upgrade its continuous-casting machines. Korytko said that Metinvest
in 2007 or early 2008 will start building a modern jobbing mill with
a capacity of up to 1 million tonnes at the Yenakiyeve steel mill.
12.06.2007 Source: Interfax
Alchevsk steel mill to up its presence on US and European markets
OJSC Alchevsk steel mill plans by 2010 to increase steel supplies to
the competitive U.S. and European markets after the completion of its
upgrade. The completion of a technical re-equipment of the mill would
increase annual steel production to around 7.5 million tonnes, cast
iron production to 7.3 million tonnes and commodity rolled steel to
7.2 million tonnes, which would make the mill one of the top-five of
European steel mills. "The products would be in line with the strictest
requirements for steel on the international market. The mill's main
consumers will be the markets in the United States, European Union and
other countries," reads the release.
11.06.2007 Source: press release of Alchevsk steel mill
Khartsyzsk Pipe Mill boosts output 59% in 5 months
Khartsyzsk Pipe Mill increased production of large-diameter pipes with
anti-corrosive by 59.1% year-on-year in January-May 2007 to 292,400
tonnes, including 58,900 tonnes in May. Large-diameter pipe production
at Khartsyzsk rose 9.2% in 2006 to 595,700 tonnes. The mill has orders
for more than 700,000 tonnes in 2007.
11.06.2007 Source: Interfax
Metinvest Holding may participate in updrade of Makiyivka Steel
Mill
Kyiv-based Smart-Holding, the key investor in CJSC Makiyivka Steel Mill,
has confirmed that Metinvest Holding, which unites metallurgical assets
of Donetsk-based CJSC System Capital Management (SCM), could participate
in an upgrade of the mill. The press service said that Smart-Holding
and Metinvest Holding have reached a preliminary agreement, under which
this summer Smart-Holding could become a co-investor in the steel mill.
The mill's technical council in late May discussed the conclusions of
the Gipromez Project Institute, which has drawn up a feasibility study
for an upgrade program for the mill. The institute said that around
USD 3 billion until 2010 are needed for the mill's upgrade.
08.06.2007 Source: press service of Makiyivka Steel Mill
Metinvest's net consolidated profit USD 1.026 B in 2006
Metinvest Holding, which unites metallurgical assets of Donetsk-based
CJSC System Capital Management (SCM), in 2006 saw USD 1.026 billion
in net consolidated profit, Metinvest Holding Director General Ihor
Syrny said at a press conference in Kyiv on Wednesday, May 7. The company's
consolidated incomes reached USD 5.65 billion in 2006. He said that
last year the integration of mining and metallurgical assets of SCM
Group was completed, and at present Metinvest's team is working as a
single whole, which is oriented to achieving common result. This provided
rapid growth of the company during its first year of operation.
08.06.2007 Source: Interfax
Handling and finishing line was commissioned at Ilyich Iron &
Steel Works of Mariupol
The handling and finishing line was commissioned in the BOF shop of
Ilyich Iron & Steel Works. This line facilitates transportation
of the slabs from all the three Continuous Casting Machines (CCM) without
occupation of new areas. The equipment, which was manufactured at NKMZ
(city of Kramatorsk), was erected very quickly without stopping the
BOF equipment. The design of the new line allows to distribute the manufactured
products by the grades and by the orders automatically. In 2007 year
the BOF shop of Ilyich Iron & Steel Works is going to produce about
3 million 600 thousand tons of cast ingots. Ilyich ISW is one of Ukraine's
three biggest steel mills and partner of Metal-Forum of Ukraine.
08.06.2007 Source: press release of Ilyich ISW
Nikopol Plant boosts ferroalloy output 34% in 5 months
Nikopol Ferroalloy Plant (NZF), Ukraine's biggest ferroalloy producer,
raised ferroalloy production 34.2% year-on-year in January-May to 452,200
tonnes, including 90,600 tonnes in May. The company produced 350,200
tonnes of silicon manganese and 102,000 tonnes of silicon manganese
in the five months.
08.06.2007 Source: Interfax
Arcelor Mittal to invest USD 1.5 B in upgrading Mittal Steel Kryviy
Rih in the next 3-4 years
Arcelor Mittal plans in the next three or four years to invest USD 1.5
billion in the upgrade of production faculties at OJSC Mittal Steel
Kryviy Rih in Dnipropetrovsk region, Director General Narendra Choderi
said at a press conference devoted to the World Environment Day in Kryvy
Rih on Tuesday, May 5. In 2007 a total of USD 277 million will be allocated
to reequip the mill, according to the mill's business plan. The owners
plan to build a new sinter plant at Mittal Steel Kryviy Rih. The old
sinter plant will be taken out of operation. The building of the new
sinter plant would significantly cut cargo turnover at the ore yard
of the blast-furnace department. Mittal Steel Kryviy Rih is Ukraine's
biggest steel mill and partner of Metal-Forum of Ukraine.
07.06.2007 Source: Interfax
Azovstal to buy back LPN
Dutch Azovstal Capital B.V. plans in February 2008 to buy back five-year
LPNs worth USD 175 million, issued in February 2006 to finance a credit
to Mariupol-based OJSC Azovstal from Moscow Narodny Bank. As reported,
in February 2006, Azovstal steel mill (Mariupol, Donetsk region), which
is among Ukraine's top three steelmakers, has placed a debut issue of
five-year loan participation notes worth USD 175 million with a fixed
coupon. Asian investors bought 34% of the notes, British investors -
27%, Swiss ones - 13%, German ones - 8%, investors from other European
countries - 11%, U.S.-registered offshore companies - 7%.
07.06.2007 Source: Interfax
ISTIL (Ukraine) improves rolling processes automation
CJSC MMW ISTIL (Ukraine) implemented the software and technical complex
for ingot heating mode control in twelve soaking pits in the Blooming
Mill. It enabled to maintain the required ingot heating modes before
rolling and therefore to improve the quality of the finished product
and to reduce the energy consumption, in particular the specific gas
consumption. The economic benefit for six months made about UAH 1 mln.
Currently the specialists of the Production Automation department are
developing the system of the technical accounting of energy resources
at the EAF Shop. The system will enable to automate the process of energy
resources monitoring and control.
04.06.2007 Source: press center of ISTIL
Mittal Steel Temirtau transfers distribution center for Ukrainian
consumers from Moscow to Kryviy Rih
Karaganda-based AO Mittal Steel Temirtau in early 2007 transferred its
distribution center for Ukrainian rolled steel consumers from Moscow
to OJSC Mittal Steel Kryviy Rih in Dnipropetrovsk region. The move was
reported by a speaker at the fifth annual conference on the flat products
and pipe market held in Alushta on May 29 and May 30. The expert said
that due to this transfer, sales of rolled steel produced at Mittal
Steel Temirtau would grow in Ukraine. Shalimov said that in 2006 a total
of 65,000 tonnes of rolled steel produced at Mittal Steel Temirtau were
sold in Ukraine, while in January through April alone, 37,000 tonnes
were sold.
01.06.2007 Source: Interfax
Ukrainian iron ore producers in January-May 2007 (year-on-year)
Inhulets Mining ups iron ore concentrate output 4.6%
Kryvy Rih Mine ups iron ore output 1.2%
Pivdenny GOK ups sinter output 20.18%, iron ore concentrate production
rose 3.6%
Pivnichny GOK boosts pellet output 19%, iron ore concentrate output
rose 12.9%
Poltavsky GOK boosts pellet output 21.8%, iron ore concentrate production
grew 22.6%
Tsentralny GOK reduced pellet output 3.1%, concentrate production rose
4.6%
Zaporizhia Iron Ore Combine raised iron ore production 4.5%
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