Metall Forum Ukraine - 2007.
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August 2007
UVIS creates Centravis international holding on basis of CJSC Nikopol Stainless Pipe Plant
UVIS Ltd. manufacturing and commercial group, Ukraine's major stainless steel pipe producer, in to create the Centravis international holding on the basis of CJSC Nikopol Stainless Pipe Plant and the group's service and trade companies. The Centravis holding will become a new player on the global seamless stainless steel pipe market. It will be formed via uniting manufacturing, service and trade assets of UVIS into a common integrated structure. The new holding will include the production facilities of NSPP, and an expansive network of trade companies and agents in Western Europe and the CIS. The largest of them are UAS SA, Nikopol Stainless Italy, UAS America, Eurolinex, Nikopol Ukr Stainless, Nikopol Rus Stainless and others. Centravis' headquarters will be situated in Ukraine.
30.08.2007 Source: Interfax

Ukraine starts preparing for privatization of Makiyivka Metallurgical Combine
Ukraine's State Property Fund has announced preparation for a tender to sell a 60.86% stake in OJSC Makiyivka Metallurgical Combine, on the base of which CJSC Makiyivka Metallurgical Plant now works. OJSC MMC was created in January 1997 with a state share of 62.09%, but in April the company's bankruptcy case was initiated. Under the bankruptcy procedure, Metallurg Ltd. was created in 1998, to which the company transferred its major production facilities. The share of the company in Metallurg Ltd. was 99.99%. In 2004-2005, company's fixed assets, worth UAH 67.2 million, were transferred to the statutory fund of CJSC Makiyivka Metallurgical Plant. The share of MMC in the company was 24.82%.
30.08.2007 Source: Interfax

Azovstal pays USD 175 million coupon on eurobonds
Mariupol-based OJSC Azovstal steel mill, one of Ukraine's top three steelmakers, on Tuesday paid the latest coupon payment on LPNs worth USD 175 million. As reported, in February 2006, Azovstal steel mill placed a debut issue of five-year loan participation notes worth USD 175 million with a fixed coupon. The notes were issued with the right to buy them back in two years. The yield of the securities is set at 9.125% annual interest. A six-month payment on the coupon is foreseen. The note placement was lead-managed by ING, which is also the mill's authorized agent for placing the loan participation notes.
29.08.2007 Source: press service of Metinvest Holding

PetroNix Ukrainian-Chinese JV mulls producing UAH 150-180 million worth of heavy construction machinery annually
The Ukrainian-Chinese engineering joint venture PetroNix, which was officially launched on August 21 at a ceremony attended by Ukraine's President Viktor Yuschenko, is to assemble and sell UAH 150-180 million worth of heavy construction machinery. The joint venture can assemble up to 1,500 automatic loaders, and produce other construction machinery, such as crane trucks, excavators and lift platforms. The Chinese side in the JV is represented by the Dezhou engineering plant. Currently, almost all spare parts used in production are supplied from China, but it is planned to localize production of these in future.
24.08.2007 Source: Interfax

Kremenchuk Plant begins assembling Great Wall SUVs
The Kremenchuk car assembly plant (KrASZ, Poltava region) has launched serial production of Chinese Great Wall offroad vehicles. The Kremenchuk plant will assemble three Great Wall models using the SKD method - four-wheel-drive Great Wall Hover and Great Wall Safe, and the four-wheel-drive truck Great Wall Wingle.
24.08.2007 Source: Interfax

Metinvest Group starts syndicating USD 1.5 billion credit
Metinvest Group, which manages the mining businesses of System Capital Management Group, has started syndicating a USD 1.5 billion credit raised in July 2007. The lead-managers of the syndication are European banks - ABN Amro Bank N.V., BNP Paribas (Switzerland) SA, Deutsche Bank AG (Amsterdam) and ING Bank N.V. "The credit will be used to finance investments of Metinvest and implementing corporate tasks," the group said in a press release issued on Tuesday.
23.08.2007 Source: press release of Metinvest Group

Ilyich Iron and Steel Works increases investment in development by 20% in H1
Mariupol Illich Steel Mill in January through June 2007 increased investment in building, reconstruction, repairs and upgrades, buying new equipment and machinery by 19.6% or by UAH 111 million year-on-year, to UAH 677.5 million. The press center said that in Q2, 2007, UAH 392 million was allocated for these purposes. In Q2, 2007, the work of the mill was focused on carrying out capital repairs. In April through June, work in the blast furnace, converter and limekiln departments was done, caused a fall in pig iron and steel output at the mill. As a part of the program for the technical re-equipment of the mill in Q2, UAH 124 million was invested in the construction and upgrade of industrial objects. Investment of funds in the technical re-equipment of the mill jointly with the launch of a number of organization and technical measures will increase the mill's competitiveness on the ferrous metal market. OJSC Ilyich Iron & Steel Works of Mariupol is one of Ukraine's three biggest steel mills and partner of Metal-Forum of Ukraine.
22.08.2007 Source: press release of Ilyich Iron & Steel Works of Mariupol

Citibank (Ukraine) issues UAH 75.8 million Linde Gas Ukraine
Kyiv-based Citibank (Ukraine) has issued a loan worth UAH 75.75 million to OJSC Linde Gas Ukraine with an annual interest rate of 15%. According to a company report, the credit is aimed at replenishing the company's circulating assets. OJSC Linde Gas Ukraine is the legal successor of Dnipropetrovsk oxygen plant. It produces oxygen, nitrogen, argon, acetylene, and carbon dioxide. AGA Aktiebolag bought 31.3% of the company's stocks at a non-commercial tender, then it raised the stockholding to a controlling stake. Linde Gas received control of the Ukrainian plant after it acquired AGA in 2000.
22.08.2007 Source: Interfax

AMC permits Zaporizhstal to build controlling stake in Zaporizhvohnetryv
Ukraine's Antimonopoly Committee has permitted OJSC Zaporizhstal to acquire over 50% of OJSC Zaporizhvohnetryv. According to Zaporizhvohnetryv, as of early 2007, Zaporizhstal held a 9.78% stake in the company. OJSC Zaporizhvohnetryv is a major Ukrainian enterprise, producing high-quality fireproof materials. In 2006, the company earned a net profit of UAH 6.751 million, and allocated it to the technical readjustment, modernization and reconstruction of the enterprise (UAH 6.417 million) and the company's reserve fund (UAH 334,300).
22.08.2007 Source: press release of AMC

ZAZ sees 43.8% rise in car output in seven months
CJSC Zaporizhia car plant, also known as ZAZ, Ukraine's largest passenger car manufacturer, boosted output by 43.8% from January to July 2007, year-over-year, to 143,752 cars. Over the seven months, the company manufactured 1,044 Tavria cars (5.2 times down year-over-year), 2,592 Tavria-Pickup cars (7.8% up), 8,293 Slavuta cars (31.8% down), and 14,675 Daewoo Sens cars (two times up). The output of Daewoo Lanos -150 cars in the seven months grew by 54.8%, year-over-year to 32,737, that of Opel-CKD cars increased by 37.8%, to 3,769, and that of Opel Astra cars rose by 42.4%, to 1,136. The plant cut the output of VAZ-21093 cars by almost 3.3 times, to 1,550, however it increased the production of VAZ-21099 cars by 9.8%, to 9,403. In addition, it put out 6,869 VAZ-2107 cars (production started in June 2006, June through July 2007 it produced 22 VAZ-2107 cars).
15.08.2007 Source: Interfax

Coal Ministry seeks investors to complete building of Krasnolimanska-Hlyboka Mine
The Coal Ministry of Ukraine plans to attract investors to complete the building of the Krasnolimanska-Hlyboka Mine in Donetsk-region. The investment sum needed to launch the mine is UAH 1.61 billion. The mine will be built in four years and the launch of the first face is scheduled for 2008-2009. Ukraine has already invested UAH 200 million in building the mine. The total deposits of coal at the mine are 253 million tonnes, and the workable deposits of coal are 223 million tonnes. The mine's capacity will be 3 million tonnes of coal per year.
15.08.2007 Source: Interfax

UAH 3-4 billion to be raised to build Novosvitlovska Mine
The Coal Ministry of Ukraine plans to raise UAH 3-4 billion to build the Novosvitlovska mine in Krasnodon District in Luhansk region. According to the investment project, the mine could be built in five or six years. The estimated deposits of coal at the Novosvitlovska mine are 365 million tonnes, and workable deposits of coal are 290 million tonnes. The mine's capacity will be 6 million tonnes of coal per year.
15.08.2007 Source: Interfax

SCM raises USD 545 million syndicated loan
System Capital Management (SCM), which is 90% owned by businessman Rinat Akhmetov, has raised a four-year debut syndicated loan worth USD 545 million through Paribas (Suisse). The deal involved 17 banks, four of which - Bayerische Hypo-und Vereinbank AG, NATIXIS, Raiffeisen Zentralbank Osterreich AG and Standard bank plc - acted as authorized leading organizers of the loan.
14.08.2007 Source: Interfax

SCM increases share in Kryvy Rih Iron-Ore Mine to over 45%
System Capital Management (SCM), Ukraine's largest asset management company, has increased its share in OJSC Kryvy Rih Iron-Ore Mine in Dnipropetrovsk region to over 45% through companies that belong to SCM.
13.08.2007 Source: Interfax

Ilyich Iron & Steel Works allocated 2006 revenues for enterprise development
A meeting last week of stockholders of OJSC Illich Mariupol metallurgical plant voted not to pay dividends for 2006 but to allocate all net profit to the company's development. Illich, one of Ukraine's three biggest steel mills, aims to increase crude steel production 1.8% to 7.1 million tonnes this year. Ilyich Iron & Steel Works of Mariupol is partner of Metal-Forum of Ukraine.
09.08.2007 Source: Interfax

Metinvest's EMZ sees pretax profit surge 360% in H1
The Metinvest group's Yenakiyive Metallurgical Plant (EMZ) increased pretax profit by 360% year-on-year to UAH 236.774 million in the first half of 2007. Output in the half grew 20.3% to UAH 1.843 billion. The plant's net revenue increased by 51.2% to UAH 2.323 billion, including 160% to UAH 649.81 million from exports. EMZ's operating margin jumped to 11.12% in the first half from 1.25% in the same period last year.
09.08.2007 Source: Interfax

Khartsyzsk Pipe Mill boosts output 18% in 7 months
The Metinvest holding's Khartsyzsk Pipe Mill increased production of large-diameter pipes by 17.9% year-on-year in January-July 2007 to 369,900 tonnes, including 28,900 tonnes in July. July production fell 50% year-on-year. Production of large-diameter pipes with anti-corrosive grew 27.1% year-on-year in the seven months to 341,000 tonnes, including 25,900 tonnes in July.
09.08.2007 Source: press release of Khartsyzsk Pipe Mill

Zaporizhia Ferroalloy plant ups ferroalloy production 7.9% in 7 months
Ukraine's Zaporizhia Ferroalloy Works (ZZF) raised production tentatively 7.9% year-on-year in January-July to 321,200 tonnes of ferroalloys, including 43,600 tonnes in July. Production rose 0.1% year-on-year in the seven 213,200 tonnes of silicon manganese and 54.5% to 51,000 tonnes of ferrosilicon, but fell and 8.1% to 45,400 tonnes of ferromanganese. ZZF produces all of the country's medium- and high-carbon ferromanganese and all of its 90%-metallic manganese. The PrivatBank controls the plant.
09.08.2007 Source: Intefax

Azovstal boosts pretax profit 160% in H1
Azovstal, a major Ukrainian steelmaker, increased its pretax profit by 164% year-on-year to UAH 1.476 billion in the first half of 2007. Production in the first half grew 47.2% to UAH 7.694 billion. Net revenue jumped 47.9% to UAH 7.734 billion, with exports up 25.7% to UAH 3.636 billion. The company's operating margin jumped to 23.93% in the half from 13.33% a year earlier. Azovstal is part of the Metinvest group, which manages the mining and metals business of the SCM group.
07.08.2007 Source: Interfax

Bogdan corporation invests over UAH 20 million into semi knock-down assembly of Kia and Hyundai cars
Bogdan corporation, one of Ukraine's major car market participants, has invested about UAH 20 million into organization of a semi knock-down assembly of Kia and Hyundai cars at the facilities, leased from Illichevsk car aggregate plant, which is a part of UkrAvto corporation. The production was launched in late July, and by the end of the year it is planned to produce about 15,000 cars. The target capacity of production is about 50,000 cars annually. At present, Kia and Hyundai cars are produced in Lutsk.
07.08.2007 Source: Interfax

Arcelor Mittal Kryviy Rih boosts earnings 66% in H1
Arcelor Mittal Kryviy Rih, in Ukraine's Dnipropetrovsk region, boosted net profit 65.8% year-on-year in the first half of 2007 to UAH 1.895 billion (5.05 UAH/USD). Revenue was UAH 9.2 billion and earnings before tax were UAH 2.56 billion. 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. Arcelor Mittal is partner of Metal-Forum of Ukraine.
06.8.2007 Source: Interfax

Ukraine's IUD joins JV for purchase of Sparrow Point plant
Arcelor Mittal USA agreed on sale of its Sparrow Point steel plant to a joint venture, which includes Esmark Incorporated, Wheeling Pittsburgh Corporation, along with Cia. Vale do Rio Doce (Brazil) and Industrial Union of Donbas (Ukraine). The volume of the purchase is USD 1.35 billion. Ukrainian company will be the supplier of steel slabs to the plant, the Brazilian company will supply iron ore. Sparrow Point may produce up to 3.9 million tonnes of steel annually. Sparrow Point is among few American plants, situated near the coast, which makes it attractive for foreign companies that plan to import slabs to the US for further processing.
06.08.2007 Source: Bloomberg

Linde Gas Ukraine to boost statutory fund 5.3 times
The statutory fund of OJSC Linde Gas Ukraine, a producer of industrial gas, may be increased by 5.3 times, to UAH 95.5 million, via additional issue of 270 simple nominal shares with face value of 35 kopecks. The statutory fund increase will be discussed by the meeting of the company's stockholders on September 14, 2007. The reason for the statutory fund increase is attracting investments for replenishing company's circulating assets. OJSC Linde Gas Ukraine is the legal successor of Dnipropetrovsk oxygen plant. It produces oxygen, nitrogen, argon, acetylene , and carbon dioxide.
06.08.2007 Source: press release of Linde Gas

Metinvest transfers shares of Pavlohradvuhillia to DFEC
A 92.11% stake in OJSC Pavlohradvuhillia (Dnipropetrovsk region), which belonged to Avdiyivka Coke Chemical Plant, a part of Metinvest group, was transferred to Donetsk-based Donbas Fuel and Energy Company, which manages fuel and energy assets of System Capital Management. The transfer was performed within restructuring of the SCM's business.
06.08.2007 Source: Interfax

Interpipe ups pipe shipping by 13.3% in H1
Dnipropetrovsk-based Interpipe Company in January through June 2007 tentatively increased pipe shipping by 13.3% year-on-year, to 638,000 tonnes. Railway wheel shipping over the six months grew by 4.5%, to 115,700 tonnes. The company increased export supplies, and retained positions on the Ukrainian market - shipping grew by 2.2% on the domestic market. Around 40% growth in supplies was seen on the markets of the Middle East and North Africa, a 54.5% rise was seen in the CIS countries (mainly in Kazakhstan, Turkmenistan, Uzbekistan, Azerbaijan and Belarus), while in particular, supplies to Russia grew by 18.8%. Interpipe is rapidly growing international company and the leader in Eastern and Central Europe. Its annual turnover in 2006 was UAH 7.3 billion or USD 1.4 billion, and its share of the seamless pipe market is 2%, and its share of the railway wheel market is 12.8%.
02.08.2007 Source: press release of Interpipe

EMZ Group launches new blast furnace
Ukraine's EMZ Group, which includes the Yenakiyive Metallurgical Plant (EMZ) and Ukrainian-Swiss joint venture Metalen in the Donetsk region, has opened a new blast furnace with capacity to produce 1.05 million tonnes of pig iron per year. The furnace cost about USD 140 million and will turn a profit in 4.5 years. The construction of the new blast furnace will enable EMZ to increase steel production to 3 million-3.5 million tonnes per year, the company said in a statement.
01.08.2007 Source: Interfax

France's Imerys Group increases stake in Vatutinsky Refractory Materials Factory
The Imerys Group of France, the world's largest mineral processing company, late in July 2007 increased its stake in OJSC Vatutinsky Refractory Materials Factory in Cherkasy region, to 86%, up from 26%. "A specialist in low and medium alumina content chamottes (calcined clay), for refractory sectors, Vatutinsky [factory] serves mainly the Eastern European markets (including Ukraine and Russia). The operation strengthens the group's chamottes production base, with existing facilities in the United States (C-E Minerals) and France (AGS)," the group reported in a press release on Wednesday.
01.08.2007 Source: press release of Imerys Group

Yasynivsky Coke Plant not to pay dividends for 2006
A general stockholders' meeting of Makiyivka-based OJSC Yasynivsky Coke Chemical Plant on July 27, 2007, decided not to pay dividends for 2006. The major part of the 2006 revenues was allocated to upgrading the plant, while the rest was allocated to its reserve fund. As reported, in 2006, Yasynivsky Coke and Chemical Plant increased its net profit by 1.92 times, to UAH 80.194 million. Its net income from sales grew by 23.8% in 2006, to UAH 1.354 billion.
01.08.2007 Source: Interfax

Stockholders in Inhulets Mining change management and distribute net profit for 2006
The stockholders in OJSC Inhulets Mining at a general meeting sent 5% of the company's net profit for 2006 of UAH 187.588 million to the reserve fund, and the rest of the profit for paying dividends. The stockholders elected Volodymyr Piven director general of the company for four years.
01.08.2007 Source: Interfax

Ukrainian iron ore producers in January-July 2007 (year-on-year)
Inhulets Mining ups iron ore concentrate output 4.6%
Kryvy Rih Mine edges iron ore output down 0.2%
Pivdenny GOK ups sinter output 17.9%, iron ore concentrate production rose 1.7%
Pivnichny GOK boosts pellet output 13.1%, iron ore concentrate output rose 12.8%
Poltavsky GOK boosts pellet output 14.4%, iron ore concentrate production grew 15.5%
Sukha Balka edges iron ore output down 1.6%
Tsentralny GOK reduced pellet output 3.6%, concentrate production rose 5.2%
Zaporizhia Iron Ore Combine raised iron ore production 3.6%
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Ukrainian Iron and Steel Works in January-July 2007 (year-on-year)
Alchevsk Iron & Steel Works ups roll output 3.8%
Arcelor Mittal Kryviy Rih ups roll output 5.2%, steel production rose 9.49%, pig iron was up 7%
Azovstal ups roll output 9.4%, crude steel production rose 10.4%, pig iron was up 15.9%
Dniprospetsstal boosts roll output 12.2%, crude steel production rose 5.2%
Dniprovsky Mill ups roll output 1.8%, crude steel production rose 5.7%, pig iron was up 7.8%
Donetsk Steel Mill boosts roll output 9.8%, crude steel production rose 16.5%, pig iron was up 49%
Ilyich Iron & Steel Works ups roll output 1.7%, crude steel production fell 1%, pig iron was up 0.3%
Makiyivka Metallurgical Plant boosts pig iron output 44.5%, crude steel production rose 20.5%
Petrovsky Steel Mill ups roll output 15.3%, crude steel production rose 6%, pig iron was up 9.4%
Zaporizhstal ups roll output 2.7%, crude steel production rose 2.4%, pig iron was up 3.1%

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