News from Ukrainian Companies |
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July 2007
Metinvest Holding attracts USD 1.5 billion syndicated loan
Metinvest company, which manages the mining businesses of Donetsk-based System Capital Management group, has received a syndicated loan worth USD 1.5 billion. The line was opened for five years, and the attracted assets will be used for general corporate purposes, capital investments and refinancing of more expensive loans. It is expected that the syndication of the loan will be completed in October 2007. "This is the largest syndicated loan ever attracted by a private Ukrainian company." financial director of Metinvest Holding Serhiy Novikov said. Ihor Syry, the company's director general, confirmed that Metinvest plans to invest over $4 billion into business development within five years.
27.07.2007 Source: Interfax
UMMC starts designing technological concept for Kryvy Rih ore processor'
development
Kiev-based Ukrainian Mining and Metallurgic Company (UMMC) as a part
of designing a technological concept for Kryvy Rih Mining and Beneficiation
Plant of Oxidized Ores has held talks with representatives of Italy's
Danieli/Danieli-Corus on designing the concept for production of iron-ore
pellets from black sand. Ukrainian Mining and Metallurgic Company Director
General Dmytro Tarasov said that a promising introduction of modern
technologies would allow bringing the plant to the level of international
technological leaders. During the talks Danieli also said that it is
ready to conduct needed studies on the operation of three palletizing
plants using magnetite and hematite mixture. Ukrainian Mining and Metallurgical
Company is traditional partner of Metal-Forum of Ukraine.
27.07.2007 Source: Interfax
Tsentralny GOK invests UAH 12 million in production facilities in
H1
OJSC Tsentralny (Central) Mining and Beneficiation Plant (Tsentralny
GOK) invested over UAH 124 million in upgrading production facilities
in January through June. According to the press release, in particular,
six excavators and three boring rigs are under repair, two KOMATSU heavy
bulldozers worth around UAH 6 million were bought, and other mining
equipment was repaired. Heavy-load vehicles, five diesel locomotives
and 29 boxcars were repaired. In H1, over UAH 52 million were invested
in the mining and transport complex of the GOK. Investment in the processing
complex exceeded UAH 18 million. In 2006, the GOK completed the first
stage of upgrade worth over UAH 840 million, which was started in 2004.
27.07.2007 Source: press release of Tsentralny GOK
Ukraine's Vorskla Steel to build EUR 300 million steel works in
Hungary
Ukrainian steel producer Vorskla Steel has made a final decision on
setting up a EUR 300 million steel mill in northeastern Hungary, near
the Ukrainian border. Construction on the plant, which is to have annual
capacity of 2.5 million tonnes, is to begin in the first half of 2008
in the vicinity of Fenyeslitke and Komoro villages, located near a planned
intermodal logistics base in Zahony, on the Ukrainian border. The new
plant is planned to be brought online in 2010-11, simultaneously with
Vorskla's planned metallurgical plant in Ukraine. The Hungarian steel
works is to produce hot-rolled steel sheets, more than doubling Hungary's
production capacity of the product, which totaled around 1.8 million
tonnes last year.
27.07.2007 Source: Interfax
Zaporizhia Ferroalloy increases output 11% in H1
The Zaporizhia Ferroalloy Works (ZZF) increased production by 10.6%
year-on-year to 227,500 tonnes in the first half of 2007. The plant
increased production of silicon manganese by 1.3% to 183,700 tonnes
and output of ferrosilicon by 74.5% to 45,200 tonnes, while reducing
production of ferromanganese by 7.6% to 39,100 tonnes. Production of
other ferroalloys jumped to 9,400 tonnes from 1,500 tonnes in the same
period of 2006.
27.07.2007 Source: Interfax
A new ultra-sonic metal testing unit at 3000 heavy plate rolling
mill of Ilyich Iron and Steel Works of Mariupol
This is the second flaw-detector, supplied by Nutronic company from
Germany. The first appliance has operated at the mill for nearly a year.
Compact, reliable and equipped with the most up-to-date means of control
units make it possible to perform analyses of metal in accordance with
all existing world standards. The price of two ultrasonic testing units
is about EUR 5.5 million. It took Nutronik company, which had amalgamated
with "General Electric", on the verge of signing the contract
nearly two years to complete the contract's execution. Ilyich ISW is
one of Ukraine's three biggest steel mills and partner of Metal-Forum
of Ukraine.
19.07.2007 Source: press release of Illyich ISW
The powder wire shop of Ilyich Iron and Steel Works increasing production
The powder wire shop of chemical and metallurgical factory have reached
the rated production capacity after the successful start up of the third
production line. High production rates were achieved here prior to the
professional holiday-The Metallurgists' day - 970 tonnes of powder wire
was manufactured, this figure is bigger by 370 tonnes than monthly production
of the previous year. The shop's production range is greatly enlarged
alongside with production volumes, production quality being also raised.
The shop has successfully implemented the production of four new types
of wire with complex filler materials.
17.07.2007 Source: press release of Illyich ISW
Mini Steel Mill ISTIL celebrated its 8-th Anniversary
On July 13 Mini Steel Mill ISTIL (Ukraine) celebrated its 8-th Anniversary.
The Ceremonial Commissioning of the Oxygen Station and presentation
of the new equipment were devoted to this event. Over 300 guests have
been invited to participate in the event. Mini Steel Mill ISTIL is one
of the most advanced steel mills in Ukraine and partner of Metal-Forum
of Ukraine.
14.07.2007 Source: press-center of ISTIL
Ukraine's SCM to invest USD 6.2 billion
Rinat Akhmetov's System Capital Management (SCM), Ukraine's biggest
holding with assets in the metals, machine building, power, coal, telecommunications,
banking, insurance, media and other sectors, plans to invest more than
USD 6.2 billion in its businesses in the next five years, Roman Vodolazsky,
the company's CFO, told the Ukrainian Dilo newspaper. SCM intended to
invest more than USD 4 billion in its mining and metals business, USD
1.2 billion in energy and USD 500 million in each of its telecommunications
and financial segments.
12.07.2007 Source: Ukrainian Dilo newspaper
Metinvest says yet to decide on Stelco buy
Ukraine's Metinvest steel group said it has yet to decide whether to
acquire Canadian steel producer Stelco. The Globe and Mail quoted industry
sources and analysts as saying that Metinvest was thinking of buying
Stelco. "We're looking at all possible investment opportunities,
if they arise, including Canada's Stelco. However no decisions to be
involved in buying or investing in the company have yet been reached,"
Metinvest's press office said.
07.07.2007 Source: Interfax
Azovmash wins tenders to supply converters to India and Algeria
OJSC Azovmash, Ukraine's leader in heavy engineering in terms of sales,
has won a tender and signed a contract to supply a converter with the
capacity of 300 tonnes for an Indian steel mill. The equipment is to
be shipped in early 2008. Moreover, Azovmash won a tender to supply
a converter with the capacity of 60 tonnes to Algerian Mittal Steel
Annaba to replace a Japanese converter, and a furnace-charging gear
5.4 meters in diameter. The company did not disclose the cost of the
contracts. At present Azovmash is taking part in tenders in India, Iran
and Algeria to supply converters and other equipment.
07.07.2007 Source: press center of Azovmash
Stockholders at Nikopol Ferroalloy Plant to consider increase in
statutory fund by over 5 times
OJSC Nikopol Ferroalloy Plant in Dnipropetrovsk region (NFP), Ukraine's
biggest ferroalloy producer, plans to consider for the third time increasing
the company's statutory fund by 5.1 times or by UAH 312 million, to
UAH 387.884 million, through a closed placement of additionally issued
stocks with the existing face value of 25 kopecks. The issue of increasing
the company's statutory fund will be put on the agenda of a general
meeting of stockholders scheduled for August 16. The increase in the
statutory fund is aimed at attracting investment to replenish the circulating
funds of the company and to develop it in the future.
07.07.2007 Source: Interfax
Fitch assigns Interpipe's notes expected 'B+'/'RR4'
Fitch Ratings on July 5, 2007, assigned Interpipe Limited's proposed
issue of notes expected senior unsecured 'B+' and Recovery 'RR4' ratings.
The expected rating is in line with Interpipe's 'B+' Issuer Default
rating ("IDR"), says Fitch. At the same time, Interpipe's
IDR of 'B+' with Stable Outlook and Short-term Issuer Default rating
of 'B' are affirmed. The final ratings on the notes are contingent on
the receipt of final documentation conforming to information already
received and further details regarding the amount and tenor.
06.07.2007 Source: Fitch press release
Over USD 100 million spent on building of Vorskla Stal steel mill
During the building of Vorskla Stal steel mill in the settlement of
Dmytrivka in Poltava region over USD 100 million of USD 1.5 billion
investment was made, one of the majority stockholders in Ferrexpo, Kostiantyn
Zhevago, said in an exclusive interview with Interfax-Ukraine. "Vorskla
Stal is actively being built," he said. He said that the building
of Vorskla Stal would allow the production of steel with minimum transportation
expenses, which would cut the production cost of its steel products.
04.07.2007 Source: Interfax
Interpipe turns USD 217.5 million IFRS net profit in 2006
Ukraine's Interpipe corporation had net profit of UAH 1.098 billion
or USD 217.478 million to International Financial Reporting Standards
(IFRS) in 2006. Interpipe, controlled by the businessman Viktor Pinchuk,
is Ukraine's biggest steel pipe producer. The corporation estimates
it controls 4.1% of the world market for seamless pipes, and 10% share
of the railway wheel market. Interpipe produced 1.21 million tonnes
of steel pipes and 216,800 tonnes of railway wheels in 2006. Annual
turnover is USD 1.6 billion.
04.07.2007 Source: statement of Interpipe
Khartsyzsk Pipe Mill boosts output 30.5% in H1
Khartsyzsk Pipe Mill increased production of large-diameter pipes with
anti-corrosive by 30.5% year-on-year in January-June 2007 to 330,300
tonnes, including 39,700 tonnes in June. 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.
03.07.2007 Source: Interfaxl
Fitch rates Corporation Industrial Union of Donbass (IUD) 'B+' with
stable outlook
Fitch Ratings on July assigned Ukraine-based Corporation Industrial
Union of Donbass (IUD) Long-term Issuer Default 'B+' and Short-term
Issuer Default 'B' ratings. The Outlook is Stable, the Fitch said. The
ratings reflect IUD's position as the leading steel producer in Ukraine,
viable strategic approach and relatively good financial profile.
03.07.2007 Source: Fitch press release
Petrovsky Steel Plant to order Danieli rolling mill
The Petrovsky Steel Plant in Dnipropetrovsk (DMZ) plans to commission
Italy's Danieli to build a new rolling mill to replace a mill that has
been operating for more than 50 years. DMZ and Danieli are discussing
the development of proposals for the construction of the new mill, which
would be installed in the No. 1 rolling division on the site of the
existing mill. The cost of the project has not been disclosed, but DMZ
chief executive Vitaliy Korniyevsky said it might be comparable to the
cost of another project DMZ is carrying out with Danieli - the construction
of a continuous casting machine. It was reported earlier that this project
would cost about USD 91 million.
02.07.2007 Source: Interfax
IUD might complete steel plant in Russia in 12-14 mths
The Krasnodar territory expects that Ukraine's Industrial Union of Donbas
(IUD) will complete construction of a steel mill in the town of Armavir
within 12 to 14 months, the head of the regional industry department,
Andrei Kravchenko said at a press conference on June 28. IUD is now
conducting land work at the construction site. The company plans to
use electric-arc furnaces at the plant, which will make it possible
to preserve the good environmental situation in the area. Almost all
regions in Russia's Southern Federal District now import steel products
from Ukraine, including from IUD, he said. "If we build our own
plant, then we will not pay customs duties, which means steel will be
cheaper. In addition, the construction of the plant will give a push
to the development of associated sectors," Kravchenko said.
02.07.2007 Source: Interfax
Ukrainian Iron and Steel Works boost output in the first half of
2007
Alchevsk Iron & Steel Works ups roll output 2.4%, crude steel
production fell 0.5%
Arcelor Mittal Kryviy Rih ups roll output 7.3%, steel production
rose 14.9%, pig iron was up 11.3%
Azovstal ups roll output 12.2%, crude steel production rose 13.2%,
pig iron was up 18.9%
Dniprospetsstal boosts roll output 15.2%, crude steel production
rose 5.8%
Dniprovsky Mill ups roll output 8%, crude steel production rose
12.4%, pig iron was up 11.5%
Donetsk Steel Mill boosts roll output 11.3%, crude steel production
rose 20.1%, pig iron was up 44.4%
Ilyich Iron & Steel Works ups roll output 2.4%, crude steel
production fell 0.4%, pig iron was up 1%
Yenakiyeve Steel Works ups roll output 7.7%, crude steel production
rose 3.9%, pig iron was up 2.7%
Zaporizhstal ups roll output 2.7%, crude steel production rose
2.6%, pig iron was up 3.1%
Ukrainian iron ore producers in January-June 2007 (year-on-year)
Inhulets Mining ups iron ore concentrate output 5.3%
Pivdenny GOK ups sinter output 18.7%, iron ore concentrate production
rose 2.1%
Pivnichny GOK boosts pellet output 18.2%, iron ore concentrate
output rose 13.1%
Poltavsky GOK boosts pellet output 18.6%, iron ore concentrate
production grew 18.3%
Sukha Balka edges iron ore output down 1.2%
Tsentralny GOK raised pellet output 4.2%, concentrate production
rose 5%
