News from Ukrainian Companies |
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September 2007
Azovmash invests about UAH 60 million into technical upgrade
OJSC Azovmash, Ukraine's leading heavy engineering firm in terms of sales, has invested about UAH 60 million into technical upgrades of its enterprises since the beginning of the year. The sum considerably exceeds the company's previous investments. The technical upgrade has considerably improved the production process. In particular, the company is participating in the upgrading of CJSC AzovElektroStal enterprise, where the production of a furnace with a capacity of 60 tonnes is underway. Azovmash produces tanker cars, freight and platform cars, metallurgical equipment, bridge and frame cranes, fuel dispensers and consumer goods.
26.09.2007 Source: press release of Azovmash
Mykolaiv Alumina Plant to increase processing capacity of port
Mykolaiv Alumina Plant, CIS largest alumina producer, plans to increase
the processing capacity of its maritime port. At present the company
is drawing up a technical assignment to conduct the assessment of the
needed expansion of the port to increase in the capacity of the plant.
26.09.2007 Source: Interfax
SCM and Smart Holding unite mining and metallurgical assets
SCM, Ukraine's biggest holding company, and Kyiv-based Smart-Holding
have decided to expand cooperation in the mining and metallurgical business
and to unite the according assets. It is planned to unite the mining
and metallurgical assets of SCM and three enterprises of Smart-Holding.
As a result of the merger, Smart-Holding will become the second owner
of Metinvest, transferring to it its stakes in Makiyivka Metallurgical
Plant, Inhuletski Mining and Dressing Mill and Promet Steel plant (Bulgaria).
The decision was taken during talks on the joint modernization of Makiyivka
Metallurgical Plant. The Metinvest Group's market capitalization could
be approximately USD 25 billion after the completion of a merger of
mining and metals sector assets of Donetsk-based SCM and Kyiv-based
Smart Holding.
25.09.2007 Source: Interfax
AMC permits Metinvest B.V. to purchase Inhuletsky MDM
Ukraine's Antimonopoly Committee has permitted the private limited company
Metinvest B.V. (Netherlands) to purchase a stake of over 50% in OJSC
Inhuletsky Mining and Dressing Mill (Kryvy Rih). The AMC obliges the
purchaser to provide the necessary volumes of supplies and set the according
prices for metallurgical produce.
25.09.2007 Source: Interfax
UC Rusal invests USD 58 million in Mykolaiv Alumina Plant
United Company RUSAL (UC RUSAL) in 2007 invested USD 58 million in the
upgrade and expansion of production facilities at the Mykolaiv Alumina
Plant, RUSAL's director for international and special projects, Alexander
Livshits, has told Interfax-Ukraine. A total of USD 180 million was
invested in the development of the plant since RUSAL bought the company.
According to investment liabilities, the company should increase alumina
output to 1.6 million in 2009. "We'll fulfill all liabilities,"
he said, adding that Mykolaiv Alumina Plant is one of the best plants
in the RUSAL system, and is among the world's top alumina producers.
RUSAL controls OJSC Mykolaiv Alumina Plant through its daughter company
- Aluminum of Ukraine (former UkrAl), which bought a 30% stake in the
OJSC in 2000.
24.09.2007 Source: Interfax
Metso Minerals to supply equipment for Arcelor Mittal Kryvy Rih
Sweden's Metso Minerals has signed a 22 million Euro contract with Arcelor
Mittal Steel to supply minerals processing equipment to its concentration
plants in Kryvy Rih in Ukraine. The equipment will be delivered by the
end of 2008. The equipment is being supplied for the expansion and modernization
of the iron ore concentration plants in Kryvy Rih. "When modernized,
the plants will be capable of processing more than 30 million tonnes
of ore to produce 13.5 million tonnes of concentrate annually,"
the Swedish company said.
20.09.2007 Source: press release of Metso Minerals
Cypriot ISTIL Group Holdings Ltd becomes only owner of ISTIL (Ukraine)
Cypriot company ISTIL Group Holdings Limited has bought a 0.01% stake
in Donetsk-based CJSC ISTIL (Ukraine) mini steel mill from Metalsukraine
Corporation Limited, and built up a 100% stake in the mill. The mill
said that the changes in the structure of the stockholders in the mill
were made at a general meeting of stockholders held on September 17,
2007. Metalsukraine Corporation Limited, which owned a 0.01% stake in
the mill, sold it stake to ISTIL Group Holdings Limited, which owns
a 99.99% stake in the mill. ISTIL Group Holdings Limited is now the
only stockholder in the mill.
20.09.2007 Source: Interfax
Industrial gas producer Linde Gas Ukraine's statutory capital to
soar by 5.3 times
Dnipropetrovsk-based OJSC Linde Gas Ukraine, a producer of industrial
gas, will increase its statutory capital by 5.3 times, or by UAH 76.755
million, to UAH 94.5 million through the issue of 219.3 million common,
registered stocks with a face value of 35 kopecks each. The decision
was passed at a general meeting of the company's stockholders on September
14, 2007. The funds to be thus earned will be spent by Linde Gas Ukraine
on the development of the company. When the decision on the increase
in the company's statutory fund was passed, the largest stockholder
in Linde Gas Ukraine was Swedish AGA Aktiebolag, which is controlled
by Germany's Linde Gas.
20.09.2007 Source: Interfax
Krasnodonvuhillia opens new face with 1 million tonnes of coal reserves
Krasnodonvuhillia has opened a new mechanized face at the Molodohvardiysk
mine with Zh brand coking coal reserves of about 1 million tonnes. The
company spent more than UAH 42 million to prepare the face for commercial
production. The coal deposit at the new face is found at 617 meters
and is 2.2 meters thick and 300 meters long. Krasnodonvuhillia has put
10 new faces into production this year and plans to increase that to
16 by the end of the year. Krasnodonvuhillia, one of Ukraine's biggest
producers and processors of Zh and K brand coking coal, includes seven
mines and mining departments, two concentrating plants and service units.
The company employs more than 20,000 people. Krasnodonvuhillia is a
unit of Metinvest, which provides strategic management of the mining
and metallurgical business for SCM Group.
20.09.2007 Source: Interfax
Ferrexpo buying USD 46 million excavators for Yeristovske field
Ferrexpo Plc (London), which owns the Poltava Mining Combine, has signed
a deal with ZAO Novokramatorsky Machine Building Plant to buy six new
excavators for USD 46 million to build a mine at Yeristovske iron ore
field. The first shipments will begin in mid-March 2008, enabling the
company to begin overburden work by September of next year. Poltava
Mining Combine is Ukraine's biggest producer of iron ore pellets and
specializes in production of iron ore from open pit mines.
19.09.2007 Source: press release of Ferrexpo
Ukrainian Mining & Metallurgical Company Ltd to reorganize into
OJSC to conduct IPO
Kyiv-based Ukrainian Mining & Metallurgical Company, one of the
country's biggest metal traders, will be reorganized into an OJSC in
order to conduct an initial public offering (IPO). The aim of the IPO
will be to raise funds for the creation and development of steel trading
bases and centers of the company abroad. The first IPO of the company's
stocks could be conducted on the Frankfurt Stock Exchange next year.
As reported, in 2006 the company increased its net profit by 32.7% year-on-year,
to UAH 35.883 million. Ukrainian Mining & Metallurgical, founded
in 1998, is the country's leading metals trader by sales of rolled steel
products and pipes and traditional partner of the Metal-Forum of Ukraine.
19.09.2007 Source: Interfax
EBRD sets aside next USD 20 million for construction of cogeneration
plant at Alchevsk Iron & Steel Works
The European Bank for Reconstruction and Development has set aside the
next USD 20 million tranche of a USD 150-million loan under a project
for the construction of a cogeneration plant at Alchevsk steel mill
in Luhansk region. Te total cost of the project is USD 383 million.
19.09.2007 Source: Interfax
Ilyich Iron and Steel Works could invest EUR 500 million in converter
plant
Illich Iron & Steel Works will invest EUR 400-500 million in a converter
plant next year, Volodomyr Boiko, the company's CEO, said. The new plant
would use 600 cubic meters of gas per hour. "The blast furnace's
closure and the launch of the new plant should save us thousands of
cubic meters of gas," he said. Upgrades have already reduced gas
consumption from 210,000 to 170,000 cu m.
Ilyich Iron and Steel Works of Mariupol is one of Ukraine's top three
steel producers and traditional partner of the Metal-Forum of Ukraine.
17.09.2007 Source: Interfax
Poltava ore mill to boost iron ore production in 2008
Poltava GOK (PGOK), Ukraine's biggest iron ore pellet producer, plans
to mine 32 million tonnes of iron ore in 2008. According to approved
production targets for 2008, pellet production will rise to 9.2 million
tonnes - 8.72 million tonnes of which will be produced from PGOK's own
ore. PGOK raised commercial pellet production 10.2% to 8.55 million
tonnes in 2006. PGOK is buying 10 dump trucks and three 20-cu m excavators
in order to start working the Lavrikovskoye deposit in 2008. Iron ore
production by PGOK rose 14% year-on-year in January-July to 16.887 million
tonnes.
17.09.2007 Source: Interfax
ZAZ boosts car production target in 2007 to 330,000
Zaporizhia Car Plant (CJSC ZAZ), one of Ukraine's leading car producers,
plans to increase car output to 330,000 in 2007, which is 71% up on
2006. About 80,000 of the produced cars will be exported (30,000 in
2006), 70,000 of them going to Russia. As UkrAvto president Tariel Vasadze
reported, it is planned to boost exports to 120,000 cars in 2008.
17.09.2007 Source: Interfax
Ukrzaliznytsia to invest UAH 94.5 billion in development of railways
in 2007-2015
Ukrzaliznytsia, the state administration of railway transport of Ukraine,
plans to invest UAH 94.5 billion in 2006 prices in the development of
the rail network, Ukrzaliznytsia Deputy CEO Anatoliy Lashko announced
at a press conference at Interfax-Ukraine on September 17. 63% of the
funds would be used to develop and renew rolling stock. In particular,
800 main-line locomotives will be purchased, as well as 58,000 freight
cars, 5,000 passenger cars, 2,100 rail buses, and cars for electric
and diesel trains.
17.09.2007 Source: Interfax
SCM transfers 52.634% stake in Azovstal to Cyprus-based daughter
company USH Ukrainian Steel Holdings Ltd.
System Capital Management (SCM) has transferred a 52.634% stake in Mariupol-based
OJSC Azovstal to Cyprus-based USH Ukrainian Steel Holdings Ltd. According
to the SCM corporate communications department, USH Ukrainian Steel
Holdings Ltd. is fully owned by SCM. From the start of September, SCM
has already transferred a 35.224% stake in OJSC Yenakiyeve Metallurgical
Plant (YMP) and a 60.99% stake in OJSC Avdiyivka coke chemical plant
to USH Ukrainian Steel Holdings Ltd. 'The transfer of shares is connected
to the restructuring of SCM assets, in order to make company's business
more transparent and create the modern vertically integrated structure
of the company, which unites Metinvest Holding managing company, coal
and coke, mining, steel and rolled steel divisions and over 20 companies,
which operate in the mining and metallurgical complex'.
14.09.2007 Source: Interfax
SCM transfers 60.99% in Avdiyivka Coke Plant to its subsidiary USH Ukrainian
Steel Holdings Ltd.
Donetsk-based System Capital Management has transferred a 60.99% stake
in OJSC Avdiyivka coke chemical plant to USH Ukrainian Steel Holdings
Ltd. (Cyprus). OJSC Avdiyivka coke chemical plant is Europe's largest
coke producer. It is a part of Metinvest group, which manages the mining
businesses of SCM group. Metinvest Holding is owned by Metinvest B.V.
(20%) and CJSC SCM (80%). Metinvest B.V is owned by SCM (Cyprus) (100%),
in which businessman Rinat Akhmetov owns a 90% stake.
10.09.2007 Source: Interfax
Interpipe expands investment program for 2007-2009 by USD 40 million
Interpipe plans to invest about USD 760 million to update its plants
in 2007 - 2009, up 5.5% from USD 720 million planned earlier. The company
will increase production of products with high added value, including
seamless oil and gas pipe, pipe for oil and gas transport, and mechanically
processed wheels. The program includes a project to build a new electric
furnace steel plant in Dnipropetrovsk with capacity for 1.32 million
tonnes a year. Interpipe plans to invest USD 610 million to build Interpipe
Steel at the Nyzhnyodniprovsky Pipe Mill, more than USD 30 million to
develop Interpipe Niko Tube in 2007 - 2009, and more than USD 80 million
in Interpipe NTK.
10.09.2007 Source: Interfax
Interpipe transfers EUR 26 million to Danieli for electric steel
smelting complex project
Interpipe company has transferred the first tranche, worth EUR26 million,
to Danieli company (Italy) for construction of an electric steel-smelting
complex Interpipe-Steel, Ukrainian Prime Minister Viktor Yanukovych
reported last week. According to the Premier, new production will permit
to considerably cut emission to the atmosphere. As reported, Interpipe
and Danieli signed agreement on electric steel smelting complex in late
February 2007, with capacity of 1.32 million tonnes annually, worth
USD 160 million.
10.09.2007 Source: Interfax
Donetsk steel mill to issue new shares
The Donetsk Steel Rolling Mill will increase charter capital by 160%
to UAH 25 million with the placement of new shares totaling UAH 15.282
million at par value. The issue of shares with par value of 1 kopeck
each was approved by shareholders on Friday, September 7.The shares
will be placed in a private offering, in two stages: from December 3
to January 20, and from January 21 to January 31, 2008. The shares are
being issued to raise additional financing for equipment updates and
expansion of production. The mill now has charter capital of UAH 9.718
million. The Donetsk mill manufactures long steel products, iron pipes,
steel structural components, bolts and shovels.
10.09.2007 Source: Interfax
Ukrainian Metallurgical Company to boost statutory fund 42.5%
CJSC Ukrainian Metallurgical Company is going to increase its statutory
fund by 42.5%, to UAH 662.305 million, via additional issue of shares.
The issue of the statutory fund increase is on the agenda of general
stockholders' meeting, scheduled for October 29, 2007. The attracted
assets will be allocated for company's further development.
10.09.2007 Source:
AMC allows Industrial Group Consortium to buy Dnipropetrovsk Pipe
Plant
The Antimonopoly Committee of Ukraine (AMC) has permitted Kiev-based
Industrial Group Consortium, which was founded to manage assets of Donetsk-based
Industrial Union of Donbas (IUD), to buy over 50% of stocks in OJSC
Dnipropetrovsk Pipe Plant, which is part of IUD. The founders of the
consortium are Donetsk-based Industrial Union of Donbas (IUD), with
a 40% stake, and Luxemburg-based Arcelor, with a 60% stake.
10.09.2007 Source: press service of AMC
SCM sells 35.224% of Yenakiyeve Metallurgical Plant to its Cypriot
subsidiary
System Capital Management company has sold a 35.224% stake in OJSC Yenakiyeve
Metallurgical Plant (YMP) to USH Ukrainian Steel Holding Ltd. (Cyprus),
YMP reported with the reference to the data from the registrar, received
on August 30, 2007. 'The transfer of shares is connected to the restructuring
of SCM assets, in order to make company's business more transparent,"
a department representative explained.
03.09.2007 Source: Interfax
Khartsyzsk Pipe Mill boosts output 10% in 8 months
The Metinvest holding's Khartsyzsk Pipe Mill from Ukraine increased
production of large-diameter pipes by 10% year-on-year in January-August
2007 to 388,700 tonnes, including 32,800 tonnes in August. Large-diameter
pipe production at Khartsyzsk rose 9.2% in 2006 to 595,700 tonnes.
03.09.2007 Source: Interfax
Arcelor Mittal Kryviy Rih ups roll output 4.9% in 8 months
Arcelor Mittal Kryviy Rih increased production of finished roll 4.9%
year-on-year to 4.75 million tonnes in the first eight months of 2007.
The company increased steel production 10.1% to 5.439 million tonnes,
pig iron - 8.6% to 4.852 million tonnes, and agglomerate - 6.3% to 8.011
million tonnes. Arcelor Mittal Kryviy Rih is Ukraine's largest metal
producer, with a market share of 20%. The company has the capacity to
annually produce over 6 million tonnes of roll, about 7 million tonnes
of steel and over 7.8 million tonnes of pig iron. Narendra Chaudhary,
the mill's general director, said at a meeting with politician Yulia
Tymoshenko that the mill planned in the next two years deliver a USD
2 billion investment program to upgrade from converters to continuous
steel casting, to build a sheet mill and to shut the existing obsolete
sintering plant and replace it with a more environmentally friendly
one. ArcelorMittal Kryviy Rih is partner of the Metal-Forum of Ukraine.
Azovstal ups steel roll output 7.4% in 8 months
Azovstal, one of Ukraine's leading steelmakers, increased production
of rolled products by 7.4% year-on-year to 3.678 million tonnes in the
first eight months of 2007, including 494,000 tonnes in August. Production
increased by 12.8% to 3.571 million tonnes of pig iron and 8.5% to 4.146
million tonnes of crude steel, but dropped 0.5% to 1.286 million tonnes
of sinter.
Finished roll production grew 0.6% in 2006 to 5.272 million tonnes.
Donetsk steel mill boosts roll output 8.1% in 8 months
Donetsk Metallurgical Plant (DMZ) raised finished roll output tentatively
8.1% year-on-year in January-August to 510,000 tonnes. Crude steel output
rose 14.1% to 696,000 tonnes and pig iron was up 54.5% to 782,000 tonnes
in the eight months. The plant produced 62,000 tonnes of finished roll
in August, 88,000 tonnes of steel and 123,000 tonnes of pig iron. The
plant produces 290 types of sections, bars, shaped steel, steel plate
and ship-building steel. The company's quality control system complies
with the international EN ISO 9001:2000 standard and has been certified
by Germany's Tuv Nord Cert.
Ilyich Iron and Steel Works boosts roll output 4.9% in 8 months
The Ilyich Metallurgical Works of Mariupol, one of Ukraine's biggest
steel mills, increased production of finished roll by 4.9% year-on-year
to 3.632 million tonnes. The mill decreased production of crude steel
by 0.8% to 4.62 million tonnes, while production of pig iron edged up
0.4% to 3.611 million tonnes and sinter output rose 10.7% to 8.347 million
tonnes. The mill increased production of steel pipes by 20% to 82,200
tonnes. In August alone, the Ilyich mill produced 461,000 tonnes of
finished roll, 602,000 tonnes of crude steel, 476,000 tonnes of pig
iron, 1.169 million tonnes of sinter and 9,700 tonnes of pipes. Ilyich
Iron and Steel Works of Mariupol is traditional partner of the Metal-Forum
of Ukraine.
Zaporizhstal ups roll output 2.5% in 8 months
Zaporizhstal increased production of finished roll by 2.5% year-on-year
in the first eight months of 2007 to 2.498 million tonnes, including
316,000 tonnes in August. Production in the eight months grew 1.9% to
3.015 million tonnes of crude steel, 2% to 2.427 million tonnes of pig
iron and 2.5% to 3.801 million tonnes of sinter. Zaporizhstal exports
around 70% of its steel to more than 70 countries. It edged finished
roll production up 0.3% in 2006 to 3.61 million tonnes. Zaporizhstal
Iron & Steel Works is traditional partner of the Metal-Forum of
Ukraine.
Kryvy Rih Mine cuts iron ore output by 1%
Pivdenny GOK ups sinter output 14.7%, iron ore concentrate production rose 1.5%
Pivnichny GOK boosts pellet output 11.5%, iron ore concentrate output rose 13.3%
Poltavsky GOK boosts pellet output 12.4%, iron ore concentrate production grew 14.7%
Sukha Balka edges iron ore output down 1.2%
Tsentralny GOK raised pellet output 3.2%, concentrate production rose 5.3%
