Metall Forum Ukraine - 2007.
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Dezember 2007
ArcelorMittal Kryviy Rih to invest over UAH 2 billion in technical re-equipment and construction in 2008
ArcelorMittal Kryviy Rih, Ukraine's biggest integrated steel producer, plans to invest over UAH 2 billion in the construction and technical re-equipment, according to the company's financial target for 2008, the company reported on Thursday. In addition to building new facilities, the company plans to continue developing existing ones. The company will continue working on the three-year modernization program for its mining and concentrating division, with USD 243 million allocated for new equipment, modernization and expansion. Investment in the energy-saving projects in 2008 would more than triple to UAH 35.5 million. One key element of this will be to use coke and blast furnace gas as a partial, and sometimes complete, substitute for natural gas. "By 2012 we should have the following figures: ore production 30 million tonnes, concentrate production 14.7 million tonnes, agglomerate output 19.6 million tonnes, coke output 4.3 million tonnes, cast-iron production 10.7 million tonnes, steel production 12 million tonnes, billet output 5 million tonnes, slab billet output 5 million tonnes. The planned orders portfolio should be the following: reinforcement bar 3.8 million, rod 2 million tonnes, hot-rolled output 4.5 million tonnes," reads the document. ArcelorMittal Kryviy Rih is Ukraine's biggest rolled steel producer specializing in long-length rolled steel production and partner of the Metal-Forum of Ukraine.
29.12.2007 Source: Interfax

ArcelorMittal Kryviy Rih boosts pretax profit 36% in January-November
ArcelorMittal Kryviy Rih increased pretax profit by 36.3% year-on-year to UAH 4.906 billion in the first eleven months of 2007, the company, formerly known as Kryvorizhstal, reported. Sales grew to UAH 17 billion, from UAH 12.926 billion in the same period last year. "This made it possible to invest more than UAH 1 billion in fixed assets and thus fulfill one of the key conditions of the investment obligations of the sales agreement for Kryvorizhstal," the company said. Capital expenditures totalled UAH 1.162 billion, which was UAH 160 million more than planned. This included UAH 351.3 million spent in the mining and concentration division, UAH 22.1 million in the deep ore-mining department, UAH 379.2 million in the coke-chemical division, and UAH 409.2 million in the metallurgical complex. Spending on environmental projects topped UAH 331 million, nearly double the UAH 176.2 million planned for the year. ArcelorMittal Kryviy Rih is Ukraine's biggest integrated steel producer and partner of the Metal-Forum of Ukraine.
29.12.2007 Source: Interfax

Ilyich Iron and Steel Works to trim natural gas consumption by 26.9% to 950 million cubic meters a year until 2013
29.12.2007 Soutrce: Ukrainian News Agency

Palmary increases share in Australia's CSM to 74.67%
Palmary Enterprises Limited, which belongs to the co-owner of Ukraine's PrivatBank Hennadiy Boholyubov, has increased its stake of voting shares in Australia's Consolidated Minerals (CSM) from 68.19% to 74.67%. The company said on Thursday that Palmary bought shares from shareholders who accepted its offer to buy CSM. The number of shares belonging to Boholyubov's company grew from 169.371 million to 185.888 million.
28.12.2007 Source: Interfax

Metinvest und Smart-Holding fusionieren
Die in den Niederlanden registrierte Metinvest-Holding des ukrainischen Oligarchen Renat Achmetow und die Smart-Holding haben Details der Fusion ihrer Bergbau- und Metallurgie-Unternehmen veröffentlicht. Metinvest erhält Beteiligungungen am Bergbaukombinat Ingulezkij GOK, am Metallurgie-Unternehmen Makejewskij metallurgitscheskij sawod und dem Stahlwalzwerk Promet Steel in Bulgarien. Zudem übergebe Wadim Nowinskij, Eigentümer der Smart-Holding, einen Anteil des Bergbaukombinats Juschnyj GOK an Metinvest. Im Gegenzug erhält Nowinskij 25% plus eine Aktie von Metinvest B.V.. Metinvest vereinigt die Metallurgie-Aktiva Achmetows. Die Fusion ihrer Metallurgie-Sparten hatten beide Unternehmen bereits vor drei Monaten verkündet, die Details wurden erst in einer gemeinsamen Erklärung am 20. Dezember bekannt. Die Smart-Gruppe trat Anteile an den den genannten Unternehmen in der Ukraine in Höhe von 82% respektive 90% an die Metinvest-Gruppe ab sowie 90% der Aktien des Stahlwalzwerks in Bulgarien. Der Umfang der Beteiligung an dem Bergbaukombinat Juschnyj GOK ist noch nicht bekannt. Nach Ansicht ukrainischer Analyst will Nowinskij durch die Fusion mit Metinvest leichter seine Aktiva auf internationalen Börsen anbieten können. Die Gruppe Metinvest sei zu einem IPO bereit, schrieb Kommersant Ukraina . Metinvest ist das größte Metallurgie-Unternehmen der Ukraine mit einem EBITDA von 1,7 Mrd USD 2006.
27.12.2007 Source: DJG

Zaporizhstal buys in Russia coking coal mining and dressing facilities
Zaporizhstal Iron and Steel Works reported about the purchase of assets for the extraction and enrichment of coking coal in Russia. This will make it possible to meet the company's demands for coal by 35%. Those are coal dressing factory Production Association Sholokhovskoe, and licenses for the development of a sector at the Bystrianskoe deposit in Rostov region. A Zaporizhstal spokesman said that a Bystrianskaya 1, 2 mine will be built at the site for the extraction of coking coal, with an annual capacity of 750,000 tons. In his words, the capacities of Bystrianskaya 1, 2 will make it possible to load Sholokhovskoe by 50%. In its turn, the factory meets by 50% the demands of the Zaporizhstal-controlled Zaporizhkoks for coking coal, or by 35% the demands of the plant itself. Zaporizhstal is the fourth-largest steel mill in Ukraine and partner of the Metal-Forum of Ukraine.
27.12.2007 Source: Ukrinform

Interpipe Nikopol Pipe Company CJSC and Interpipe Niko Tube CJSC merge into Interpipe Niko Tube LLC
27.12.2007 Source: Ukrainian News Agency

IFC approves USD 350 million loan for Industrial Union of Donbass to modernize steel mills
The International Finance Corporation (IFC) will lend USD 100 million to the Industrial Union of Donbas (IUD) and arrange a syndicated loan worth USD 250 million for modernization, an improvement in competitiveness, and implementation of environmental programs at the group's enterprises. T he IFC board of directors approved the project on December 20 and the documents under the project are to be signed. The total value of the project is estimated at USD 3 billion. The funds will be transferred to OJSC Alchevsk Steel Mill in Luhansk region and OJSC Dniprovsky Dzerzhynsky Steel Mill in Dnipropetrovsk region, which are incorporated into the Industrial Union of Donbas. Apart from the above-mentioned steel mills, IUD's Ukraine-based assets also include Alchevsk Coking and Chemical Plant, Hungarian-based Dunaferr steel mill and Polish-based Huta Stali Czestochowa.
26.12.2007 Source: Interfax

Zaporizhstal increases statutory fund by UAH 450 million to UAH 660.9 Million
26.12.2007 Source: Ukrainian News Agency

Zaporizhstal to form Swiss affiliate for support to foreign stockholders
Shareholders of metallurgical mill Zaporizhstal decided to set up a subsidiary, ZS Inform AG, in Zurich (Switzerland) for support to the company's foreign shareholders. This decision was passed at the shareholders' meeting in Zaporizhia on December 21, says Anatoliy Salamatov, deputy director general for corporate rights. The company's statutory fund will make 100,000 Swiss francs. The main objective of this company will be protection of rights and legal interests of shareholders, support to them through providing information or by other means. Zaporizhstal produces hot- and cold-rolled milled goods of carbon, low-alloy, alloy and stainless steels. 44.75% of Zaporizhstal belong to Global Steel Investments Ltd. (Great Britain). ZAporizhstal is the fourth-largest steel mill in Ukraine and partner of the Metal-Forum of Ukraine.
25.12.2007 Source: Ukrinform

Novokramatorsk Machine-Building Plant supplies mining equipment to Russia
The Novokramatorsk Machine Works has supplied deep mining lifts to the Chebachiy mine of the Verkhneuralskaya Ruda company in Russia. As chief constructor the Works' mining equipment and press-forging production unit Olha Kulyk said, the consignment included two lifts as well as a shaft signal system. The lifts are designed to ensure the miners' security and increase production. Verkhneuralskaya Ruda intends to invest USD 400 M and USD 900 million into its mines' upgrading in 2008 and 2009 respectively.
The Novokramatorsk Machine Works specializes in production of metallurgical machinery and equipment as well as mining and other equipment.
25.12.2007 Source: Ukrinform

Antimonopoly Committee allows Linde AG to purchase over 50% in Kiev Carbon Dioxide Plant
25.12.2007 Source: Ukrainian News Agency

For the first time the annual output of ISTIL (Ukraine) amounts to 1 mln. tons of steel
On December 23 ISTIL (Ukraine) produced the millionth ton of steel. Consequently the production volume of liquid steel for the year 2007 will exceed 1 mln. tons. The staff of the Mill has been striving for this target for several years, upgrading progressively its production facilities. The Mill produced 811 thousand tons of steel in 2005 and 920,1 thousand tons in 2006. In order to increase the production volume the technical upgrading project was developed at the Mill. Within the framework of this project more powerful ABB transformer was installed at the EAF Danarc. It enabled to reduce the tap to tap time and to increase the steel output. Farooq Siddiqui, Senior Vice-President of ISTIL(Ukraine), felicitated the employees of the Mill on this remarkable event and wished a fruitful and stable work in 2008. Mini Steel Mill ISTIL is partner of the Metal-Forum of Ukraine.
25.12.2007 Source: press service of ISTIL

Krasnodonvuhillia testing container gas-utilizing plant at mine
Krasnodonvuhillia in Luhansk region has started industrial tests of a container gas-utilizing plant at the Molodohvardiyska mine. The company said that tests are conducted in the light of a project on degassing and utilization of methane at the Molodohvardiyska mine, which Krasnodonvuhillia is realizing jointly with Ukrainian-German Kyiv-based Eko-Alliance Ltd. The project foresees the upgrade and expansion of the degassing complex of the mine in order to increase volumes of degassing from coal layers and increase the level of industrial safety with the simultaneous creation of an efficient system for utilization to cut methane emission in the air and increase its use for the needs of Krasnodonvuhillia.
25.12.2007 Source: Ukrainian Journal

Artemivsk Nonferrous Metal Processing Plant decides to increase statutory fund by UAH 66.5 million to UAH 169.5 million
Energomashspetsstal decides to increase statutory fund by UAH 60.7 million to UAH 100 million
Kramatorsk Heavy Machinery Plant decides to Boost statutory fund by UAH 48.9 million to UAH 50 million
25.12.2007 Source: Ukrainian News Agency

Zaporizhstal's shareholders approve results of company stocks swap, allocate 2% of profit for dividends
Shareholders in OJSC Zaporizhstal Iron and Steel Works have approved a report on the results of the company's shares exchange to shares of five companies, which are merged with the OJS, a representative of Zaporizhstal said. He said that shareholders at a meeting held on December 21 made the decision. He said that among the five merged companies are Zaporizhstal Trade House Ltd. with the statutory fund of UAH 180 million, Steel Track Ltd. with the statutory fund of UAH 67.5 million, Trade House of Refractory Products Ltd. with the statutory fund of UAH 67.5 million, Zaporizhstal-Invest-Torhprom Ltd. with the statutory fund of UAH 90 million, and Tsentrostal Ltd. with the statutory fund of UAH 45 million. Shareholders at the meeting decided to allocate 2% of profit for 2006 to pay dividends, which is over UAH 14 million. The rest of the profit will be allocated to develop the company," he said. Zaporizhstal is the fourth-largest steel mill in Ukraine and partner of the Metal-Forum of Ukraine.
24.12.2007 Source: Interfax

Metinvest and Smart-Holding unite assets
The Metinvest group of Rinat Ahmetov and Smart-Holding of Vadym Novynskyi are uniting their assets. According to a joint statement of the companies, Smart N.V. owns 25% +1 shares of Metinvest B.V. The Smart-Holding in turn passed 82.46% shares of the Inhuletskyi mine and 90.18% of the Makiyivka metallurgic plant and 90% of the Promet Steel to the Metinvest. The parties agreed to pass shares of the South Mine to the Metinvest.
22.12.2007 Source: Ukrinform

Evraz to expand presence in Ukraine
After the acquisition of metallurgic assets of Privat Group, Evraz Group would continue expanding its own presence in Ukraine, according to Russian Ambassador to Ukraine Viktor Chernomyrdin. "If they made this step, they decided to buy only to invest [in Ukraine]. I support this," he said in Kiev on Thursday. As reported, Evraz is acquiring iron ore producer Sukha Balka (99.25% of shares), Dnipropetrovsk Metallurgical Plant (95.57%) and coke producers Bahliykoks (93.74%), Dniprokoks (98.65%) and Dniprodzerzhynsk Coke Chemicals Plant (93.83%). Evraz plans to close the acquisition in the first quarter of 2008.
21.12.2007 Source: Interfax

Palmary enterprises prolongs Australian CSM takeover offer until January 1
A takeover offer of Belize-based Palmary Enterprises Ltd., which belongs to the co-owner of Ukraine's PrivatBank Hennadiy Boholyubov, to buy Australia's Consolidated Minerals (CSM), has been prolonged from December 20 until January 1, 2008. Palmary has increased its stake of voting shares in Australia's Consolidated Minerals (CSM) from 61.77% to 68.19%. The company said on Wednesday that Palmary bought shares from shareholders who accepted its offer to buy CSM. The number of shares belonging to Boholyubov's company grew from 153.433 million to 169.371 million. Palmary has the right to prolong its takeover offer further.
21.12.2007 Source: Interfax

Ukrainian-backed firm acquires 61% of Australia's CSM
Belize-based Palmary Enterprises Ltd., which belongs the co-owner of Ukraine's PrivatBank Hennadiy Boholyubov, has now increased its interest in Australian manganese miner Consolidated Minerals (CSM) to 61.77%. Palmary has improved its takeover offer for CSM from 4.7 to 5 Australian dollars. Rival bidder Pallinghurst has said it would not raise its own price and said it would sell all of its own shares in CSM at 5 dollars within two weeks. This values the company at USD 1 billion. CSM's board of directors recommended that shareholders accept the takeover bid. Palmary said in a statement for the Australian Stock Exchange last week that it expected the remaining shareholders to accept its purchase offer fairly soon.
20.12.2007 Source: Interfax

Antimonopoly Committee of Ukraine approved concentration of over 50% in Makeyevka Steel by Metinvest
In line with the decision on consolidation of the mining and metals businesses of SCM Group and Smart-Holding, Metinvest (SCM's subholding) obtained approval from Antimonopoly Committee of Ukraine to concentrate over 50% of shares in Makeyevka Steel Plant. Upon receipt of all necessary approvals and clearances 90% of shares will be transferred to Metinvest Group. According to Igor Syry, Metinvest's CEO, the transfer of the shareholding will be completed in Q1 2008. Mr. Syry stated that Metinvest has proceeded to elaboration of a development plan for the plant as a part of Metinvest vertically integrated structure. Makeyevka Steel Plant specializes in production of foundry and steel-making pig iron, billets, rounds, shaped sections, wire rod, reinforcement bars.
20.12.2007 Source: press service of SCM

ZAZ sees 47% rise in car output in 11 months
CJSC Zaporizhia car plant, also known as ZAZ, Ukraine's largest passenger car manufacturer, boosted output by 46.8% from January to November 2007, year-over-year, to 252,652 cars. The company manufactured 1,046 Tavria cars (7.4 times down year-over-year), 3,614 Tavria-Pickup cars (0.5% up), 14,596 Slavuta cars (13% down), and 21,135 Daewoo Sens cars (9.4% up). The output of Daewoo Lanos cars in the seven months grew by 51.1%, year-over-year to 55,515, that of Opel-CKD cars increased by 34%, to 6,494, and that of Opel Astra cars rose by 42.4%, to 1,744. Over the period under review, the plant cut the output of VAZ-21093 cars to 3,074, however it increased the production of VAZ-21099 cars by 11.7%, to 15,800. In addition, it put out 10,527 VAZ-2107 cars (production started in June 2006). VAZ cars are put out under a joint program with the Bogdan Corporation. In January through November the plant also produced 2,743 Chery cars and 3,417 Chevrolet Aveo cars, which were not produced in 2006. Moreover, the plant produced 112,947 cars of other models, including trucks and buses.
19.12.2007 Source: Interfax

Foreign investors to finance construction of mine in Lviv region
Australia's Control Components Inc. in 2008 will start building a first mine at the Liubelia coking coal field, head of the Lviv regional state administration, Petro Oliynyk, said. He said that CCI-Liubelia Ltd, the daughter companies of Control Components Inc., will order the building of the mine. OJSC Luhanskshakhtoprokhodka Group, with which the talks are being held, could be a chief constructor of the mine. Oliynyk said that the explored deposits of the Liubelia coking coal field are 86 million tonnes, and the mine' capacity should be 2.1 million per year. He said that the project is estimated at UAH 1.5 billion.
17.12.2007 Source: Interfax

L.S.H.S. Industrial Steel Holding gains control of Ukrainian pipe maker DTZ
Cyprus-based L.S.H.S. Industrial Steel Holding Co Limited has joined the supervisory board of the Dnipropetrovsk Pipe Mill (DTZ) as the owner of a 53.331% stake in the Ukrainian company, DTZ reported on December 13, citing a decision made at a shareholder meeting on December 11. Shareholders voted Industrial Union of Donbass (IUD) representative Serhiy Laptev and the commercial director of IUD affiliate Ukrainian Mining and Metallurgical Company off the board, while Valeriy Laptev, chief engineer at IUD affiliate Region was voted onto the board. DTZ's largest shareholders at the end of 2006 were Lindsell Enterprises Limited of Cyprus with 5.277%; Reeferway Limited (British Virgin Islands) with 22.592%; Kyiv-based Altera Asset Management's Kremen-Invest venture fund with 18.668%; Kyiv-based Avtoalyans-XXI Vek's Investment Technologies Fund with 9.472%; and Bondline Limited of Cyprus with 24.266%.
17.12.2007 Source: Interfax

Nikopol Pivdennotrubny plant sells 25% stake in Centravis Production Ukraine to Investtechnologies Ltd.
OJSC Nikopol Pivdennotrubny plant has sold a 25.00021% stake in CJSC Centravis Production Ukraine to Investtechnologies Ltd. Investtechnologies Ltd. was not shareholder in the company before buying this stake. CJSC Centravis Production Ukraine (earlier CJSC Nikopol Stainless Pipe Plant) is the only stainless pipe producer in Ukraine. It produces over 1,000 types of pipes from over 60 types of steel according to the U.S. ASTM standards, German DIN standards, French NF standards, and Russian GOST and TU standards.
17.12.2007 Source: Interfax

Alchevsk Metallurgical Plant Increases Agglomerate Output By 8.4% To 406,300 Tons In November
Arcelor Mittal Kryvyi Rih Rolled Metal Production 3.7% Down To 566,000 Tons In November
Azovstal Reduces Steel Production By 11% To 514,000 Tons In November
Dniprospetsstal Electric Steel Output 6.2% Down To 45,100 Tons In November
Dniprovskyi Metallurgical Plant Increases Rolled Metal Output By 16.8% To 276,000 Tons In November
Donetskstal Cuts Open-Hearth Steel Output 17.5% To 71,700 Tons In November
Makiivka Metallurgical Plant Reduces Rolled Steel Production By 14.2% To 97,400 Tons In November
Petrovskyi Metallurgical Plant Reduces Production Of Rolled Steel By 0.9% To 99,000 Tons In November
Zaporizhstal reduces Rolled Metal Production By 2.6% To 305,000 Tons In November
17.12.2007 Source: Ukrainian News Agency

Evraz Group buys 50% of one of Ukraine's biggest mining-dressing works
The mining metallurgical industrial Evraz Group, in addition to five plants it announced to buy in Ukraine, also bought 50% shares of one of the biggest in Ukraine South Mining-Dressing Works, estimated at USD 1.3-1.6 billion, the chief shareholder of the Evraz Group Lanebrok Ltd announced. Ukrainian shareholders of the Ukrainian business group Privat will gain USD 1 billion in cash and 8.9% of Evraz shares to the tune of 2.5 bn. USD from the Lanebrok for their assets. Evraz will have to compete with the MetInvest Group of Rinat Akhmetov for the rest of the plant's 50% shares. The South Mining-Dressing Works (Dnipropetrovsk region) in 2006 produced 8.71 million tons of iron-ore concentrate and 4.65 million tons of agglomerate. Before the deal 50% of the plant belonged to the Privat Group, other 50% belongs to the Smart Group of Vadim Novinskiy.
15.12.2007 Source: Ukrinform

Evraz to pay USD 2 - 2.2 billion for Ukrainian assets
Evraz Group will pay a total consideration of USD 2 - 2.2 billion for the Ukraine-based assets that it intends to acquire from the Privat Group, including approximately USD 1 billion cash, Evraz said in a statement. Evraz Group's core shareholder, Lanebrook Limited, has already bought the assets in question and will sell them on to Evraz. "The acquisition of the assets has already been closed. Lanebrook will sell stakes in the Ukrainian enterprises to Evraz Group," a Lanebrook representative said. Going by the amount that Evraz will spend on the assets and the Russian group's current capitalization, Lanebrook will be able to increase its stake in Evraz from 83% to 86%. Evraz is acquiring iron ore producer Sukha Balka (99.25% of shares), Dnipropetrovsk Metallurgical Plant (95.57%) and coke producers Bahliykoks (93.74%), Dniprokoks (98.65%) and Dniprodzerzhynsk Coke Chemicals Plant (93.83%).
14.12.2007 Source: Interfax

Palmary gains control of CSM
Belize-based Palmary Enterprises Ltd., which belongs the co-owner of Ukraine's PrivatBank Hennadiy Boholyubov, has now increased its interest in Australian manganese miner Consolidated Minerals (CSM) to 50.68%. Palmary said in a statement for the Australian Stock Exchange that it expected the remaining shareholders to accept its purchase offer fairly soon. Palmary last week improved its takeover offer for CSM from 4.7 to 5 Australian dollars. Rival bidder Pallinghurst said it would not raise its own price and said it would sell all of its own shares in CSM at 5 dollars within two weeks. This values the company at USD 1 billion.
14.12.2007 Source: Interfax

Interpipe Nyzhniodniprovskyi Pipe Rolling Plant increases steel pipes output by 13% in November
In November, the Interpipe Nyzhniodniprovskyi Pipe Rolling Plant (Dnipropetrovsk region) increased steel pipes output by 13% or 5,800 tons, compared to October, to 50,700 tons. In November the plant increased steel output by 11.7% or 6,800 tons to 65,100 tons and reduced production of ready-made rolled metal (wheels and rims for trains) by 6.9% or 1,200 tons to 16,300 tons. In January-November 2007 the plant increased steel pipes output by 2.2% or 11,900 tons, compared to January-November 2006, to 550,300 tons.
13.12.2007 Source: Ukrainian News Agency

Dnipropetrovsk Pipe Plant retains steel pipes output at 14,700 tons in November
Interpipe Novomoskovsk Pipe Plant reduces steel pipes output by 6.5% to 24,000 tons in November
Khartsyzk Pipe Plant reduces steel pipes production by 8.5% to 26,000 tons in November
13.12.2007 Source: Ukrainian News Agency

Metinvest Holding completes rebranding of marketing channels and presents restructured sales system of steel and rolled division
Regional ore mining leader and one of the major players on the international market of black metallurgy Metinvest Holding has presented a restructured steel and rolled iron sales service. As Metinvest Sales Director Andriy Parkhomchuk said, after reorganization the exports of the company will be carried out by Metinvrest International S.A., while wholesale supplies within Ukraine and to the CIS will be the responsibility of Metinvest-Ukraine. Retail sales will be handled by Metivest SMTS. Metinvest Holding is owned by Dutch-based Metinvest B.V. (51.15% stake) and Ukraine's System Capital Management (48.85%).
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12.12.2007 Source: press service of Metinvest

Metinvest-SMC to sell 620,000 tons of metalware in Ukraine, Serbia in 2008
Metinvest Eurasia
aiming to sell 591,000 tons of metal products in Russia in 2008
Metinvest Ukraine
to sell 1.9 million tons of metal products in Ukraine and CIS in 2008
12.12.2007 Source: Ukrainian News Agency

Rinat Akhmetov to increase sales of rolled products to Russia
In 2008 LLC "Metinvest Eurasia", which is a part of Metinvest Group, is going to sell on the Russian market about 490 thousand tons of long rolled products (reinforcement, I-beams, channels and corner frames) and more than 100 thousand tons of flat products. The information was reported by Dmitriy Baranov, the General Director of "Metinvest Eurasia", during the presentation of the new Sales Service of Steel and Rolled Products Division of LLC "Metinvest Holding" in Kyiv on Tuesday. To his words LLC Metinvest Eurasia was created at the end of 2007. He also reported that in 2006 the Group sold on the Russian market 17.6 thousand tons of sheet products and 179.5 thousand tons of long products (in total 197.1 thousand tons of metal products). In 2007 the Company is expected to sell 374.1 thousand tons of metal products on the Russian market: 46.5 thousand tons of sheet products and 327.6 thousand tons of long products. As it was reported earlier "Metinvest Holding" had restructured its sales outlets. "Metinvest Eurasia" was created to represent the interests of the Company on the Russian market.
12.12.2007 Source: Ukrrudprom

Denker to invest EUR 45 million in upgrade of Silur and Stalkanat by 2012
Denker industrial and investment company Ltd., a strategic investor in two large hardware companies in Ukraine - OSJC Silur in Khartsyzsk and Odesa-based OJSC Stalkanat - plans in 2008-2011 to invest EUR 45 million in upgrading the two plants. Denker Board Chairman Serhiy Faiermark has told Interfax-Ukraine that at present a comprehensive program for technical upgrading, which will be carried out in stages, has been drawn up. "We'll upgrade the whole metallurgic complex at the two plants," he said. The upgrading of equipment has started at the two plants. "In the coming years, the profit earned by the companies will be re-invested into the companies' development," he said. Ukrainian hardware plants work with outdated equipment as a rule, and some of them work with worn out machinery, which results in the pace of growth in production costs of hardware being considerable. As for production costs, he said that natural gas occupies a small share in the production cost for hardware, and thus scarcely impacts hardware plants. The cost of raw materials defines the cost of the products.
12.12.2007 Source: Interfax

VTB Bank grants USD 16.8 million credit to metallurgic center affiliated with Zaporizhstal
Kyiv-based VTB bank (formerly Mriya) granted a one-year credit worth USD 16.8 million with a rate of 12.5% per annum to Metallurgical Center (MC) Ltd. (Kyiv), which is affiliated with Zaporizhstal metallurgical plant. The decision was passed at a general meeting of MC's founders meeting on November 9, and the corresponding agreement between the bank and MC was signed on November 26. The credit funds will be used to replenish working capital and support MC's business activities.
12.12.2007 Source: Interfax

Kyiv Authorities to sign tram manufacture memorandum with Siemens
Kyiv City Administration is about to sign a memorandum with Siemens on the production of European-type trams. A prototype of the tram Siemens plans to manufacture in Kyiv was demonstrated at an event in Kyiv on Wednesday with the participation of Kyiv Mayor Leonid Chernovetsky. As Chernovetsky said, the city authorities intend to revive Kyiv's tram network, which was partially dismantled by the previous authorities. He said that Kyiv's city infrastructure is such that its streets have little carrying capacity, "therefore we prefer a modern, high-speed means of transportation."
12.12.2007 Source: Interfax

Palmary increases share in Australia's CSM to 49.75%
Palmary Enterprises Limited, which belongs to the co-owner of Ukraine's PrivatBank Hennadiy Boholyubov, has increased its stake of voting shares in Australia's Consolidated Minerals (CSM) from 37.7% to 49.75%. The number of shares belonging to Boholyubov's company grew from 87.319 million to 115.233 million. As reported, earlier Palmary Enterprises Limited extended its unconditional cash offer for CSM from A$4.70 to A$5, and its rival - Pallinghurst company - announced that the company would not up its offer but would accept Palmary's offer. CSM said that Palmary extended the offer period from December 7 to December 20, and the company has the right to prolong it further.
12.12.2007 Source: Interfax

AMC has no information on Evraz purchase of mining and metallurgical assets from Privat Group
The Antimonopoly Committee of Ukraine (AMC) has no information on the purchase of a number of Ukrainian mining and metallurgical assets, which belong to Privat Group, by Evraz Group, AMC Head Oleksiy Kostusev has said. "We didn't receive relevant requests, and we did not give any permissions," he told the press in Kyiv on Wednesday. As reported, Evraz Group is buying a range of mining and metals assets in Ukraine. Evraz Group is to pay over USD 3 billion in cash and shares for the purchase of a 99.25% stake in Sukha Balka GOK, a 95.57% stake in Dnipropetrovsk Petrovsky Metallurgical Plant, a 93.74% stake in Bahliykoks coking plant, a 98.65% stake in Dniprokoks coking plant and a 93.83% stake in Dniprodzerzhynsk coking and chemical plant.
12.12.2007 Source: Interfax

Russische Evraz Group kauft ukrainische Metallunternehmen
Die russische Evraz Group kauft fünf Metallurgie-Unternehmen in der Ukraine. Mit der ukrainischen Priwat-Gruppe sei eine Vereinbarung über den Erwerb von Mehrheitsanteilen einer Reihe von Bergwerks- und Metallunternehmen unterzeichnet worden. Die Evraz Gruppe ist einer der größten russischen Bergbau- und Metallurgiekonzerne Russlands. Gemäß Vereinbarung kauft Evraz 99,25% der Aktien des Bergwerkkombinats Suchaja Balka mit einer Produktionskapazität von 3,75 Mio t Sintererz im Jahr. Zudem erwerben die Russen 95,57% des Dnjepropetrowsker Metallwerkes, das im Jahr 1,8 Mio t Gusseisen und 1,23 Mio t Stahl herstellt. Auch drei Koksfabriken, die OAO Koksochimitscheskij sawod Baglejkos, die OAO Djenprokoks und die OAO Djeprodserschinskij koksochimitscheskij sawod wechseln den Besitzer. Sie produzieren gemeinsam jährlich 3,52 Mio t Koks. Die Geschäfte sollen bis zum Ende des ersten Quartals 2008 abgewickelt werden. Der Vorstandsvorsitzende von Evraz, Alexander Frolow, sieht in der Übernahme einen weiteren Schritt bei der Verwirklichung strategischer Pläne. Mit dem Kauf in der Ukraine verbessert sich unsere Versorgung mit Eisenerz und Evraz integriert sich weiter in den Bergwerkssektor , betonte er. Einen Wertumfang der Transaktion nannte Evraz nicht. Es hieß lediglich, die Übernahme werde aus einer Kombination von Barzahlung und der Emission neuer Aktien fundiert werden.
12.12.2007 Source: DJG

Metinvest Holding to spend USD 7.5 billion on Azovstal mill through 2017
Metinvest-Holding Ltd., a managing company belonging to the Metinvest group, is to spend USD 7.5 billion on the renovation and modernization of Azovstal steel mill and Yenakiyeve steel plant by 2017. The plan for the group's strategic development until 2017 was passed by the supervisory council of Metinvest-Holding Ltd. in October, said Ihor Korytko, the director of the company's steel and rolled stock division, at a conference entitled the Day of Metinvest-Ukraine Company in Donetsk on December 7. He said Azovstal would renovate all of its blast furnaces, renovate steel smelting facilities, and stop using open-hearth furnaces, with the expansion of converter production. Moreover, Azovstal will no longer use the old ingot-blooming technology, which requires the modernization of existing continuous casting machines and the construction of new ones. At Yenakiyeve steel plant they will build modern light- and heavy-section mills. Korytko expressed satisfaction with the steelmakers' performance in 2007, saying that the year was successful.
11.12.2007 Source: Ukrainian Journal

Arcelor Mittal Kryvyi Rih launches coke imports from Egypt
Arcelor Mittal Kryvyi Rih ore mining and enrichment plant has launched imports of coke from Egypt. In November, the plant imported 5,800 tons of coke from Egypt. Ukrainian metallurgical enterprises imported 113,500 tons of coke from Poland (68,900 tons), Russia (26,800 tons), Kazakhstan (12,300 tons) and Egypt (5,800 tons) in November. As earlier reported, in September, Arcelor Mittal Kryvyi Rih lunched coke imports from France. It imported 19,250 tons of coke and terminated the imports in October.
11.12.2007 Source: Ukrainian News

Poltawer Bergwerkkombinat verkauft Aktien im Wert von 252 Mio UAH
Die Aktionäre des Poltawer Bergwerkkombinats (Poltawskij GOK) haben die Erhöhung ihres Stammkapitals um 252 Mio UAH beschlossen. Nach der zusätzlichen Emission von Aktien werde das Bergwerkkombinat 1,4 Mrd UAH wert sein. Die Anteile können zwischen dem 26. Dezember 2007 und dem 15.Januar 2008 gezeichnet werden. Das Poltawer Bergwerkkombinat erwirtschaftete 2006 einen Reingewinn von 142 Mio UAH. Es wird von der Bankengruppe Finansy i Kredit der Geschäftsleute Konstantin und Oleg Schewago kontrolliert. Dies geschieht vor allem über das Unternehmen Ferrexpo AG mit Sitz in der Schweiz, dem 85% der Aktien des Kombinats gehören.
11.12.2007 Source: DJG

Rinat Akhmetov wants to build the metal works in Kiev
In 2008, the Company Metinvest-SCM is going to open the workshop in Kiev to process rolled metal, on the base of which the metal works will be made later. That has been announced today in Kiev at the presentation of the renewed service of steel and rolled metal sells of the Company 'Metinvest Holding'. Also it is planned to open two metal centers in Nikolayev and Krivoy Rog. 5 more service metal centers of the company will be opened in various regions of Ukraine in 2008, in particular, in Lvov, Zaporozhye, Kramatorsk and Luhansk. As of today, the company has 9 metal centers in various regions of Ukraine.
11.12.2007 Source: Ostrov

Metinvest to approve the program of reconstruction of Makeyevka Steel Works in QII 2008
LLC Metinvest Holding, which consolidates the mining and metals assets of JSC "System Capital Management" (SCM, Donetsk), is going to complete the development and approve the program of reconstruction of CJSC "Makeyevka Steel Works" (MSW). To the words of Igor Korytko, the Director of Iron Ore and Rolled Products Division of Metinvest Holding, the Group has made the decision on fundamental reconstruction of the plant. "We have serious plans as for MSW. We've made the decision on the plant's reconstruction. In fact we are going to build a new plant - starting from sintering facility to production of steel and continuous casting billets. This seems to be the largest investment and our biggest project as we are planning to construct everything from scratch: a sintering facility, blast furnace and steel making production", noted Korytko. However, he did not specify the volume of investments for upgrading the facility. Earlier it was reported that the expected volume of investments into modernization and development program of MSW exceeds USD 3 billion.
10.12.2007 Source: Interfax

Kriukivsky Railway Car Plant to invest UAH 100 million in upgrade
Kriukivsky Railway Car Plant is to invest around UAH 100 million in 2008 in the upgrade of its production facilities, the head of the plant's supervisory council and president, Volodymyr Prikhodko, has said. "We will invest around UAH 100 million in the company's development for the third year in a row. We will invest these funds in the development of new technologies. We'll create four or five new products linked to passenger and cargo car building, subways and escalators," he said.
10.12.2007 Source: Ukrainian Journal

Palmary increases share in Australia's CSM to 37.7%
Palmary Enterprises Limited, which belongs to the co-owner of Ukraine's PrivatBank Hennadiy Boholyubov, has increased its stake of voting shares in Australia's Consolidated Minerals (CSM) from 33.86% to 37.7%. The company said on Wednesday that Palmary bought shares from shareholders who accepted its offer to buy CSM, and on the market. The number of shares grew from 78.416 million to 87.319 million.
10.12.2007 Source: Interfax

Palmary increases share in Australia's CSM to 33.86%
Palmary Enterprises Limited has increased its share of voting shares in Australia's Consolidated Minerals (CSM) from 29.6% to 33.86%, the Bloomberg agency has reported. The company said on Wednesday that Palmary bought shares from shareholders who accepted its offer to buy CSM, and on the market. The number of shares belonging to Boholyubov's company grew from 68.638 million to 78.416 million.
08.12.2007 Source. Bloomberg

Palmary increases share in Australia's CSM to 29.6%
Palmary Enterprises Limited, which belongs to the co-owner of Ukraine's PrivatBank Hennadiy Boholyubov, has increased its share of voting shares in Australia's Consolidated Minerals (CSM) from 19.36% to 29.6%, the Bloomberg agency has reported. The company said on Wednesday that Palmary bought shares from shareholders who accepted its offer to buy CSM. As reported, earlier Palmary Enterprises Limited extended its unconditional cash offer for CSM from A$4.70 to A$5, and its rival - Pallinghurst company - announced that the company will not up its offer but would accept Palmary's offer.
07.12.2007 Source: Bloomberg

Deutsche Ausrüstung für Arcelor Mittal Kriwoj Rog
Das ukrainische Stahlwerk Arcelor Mittal Kriwoj Rog wird mit deutscher Ausrüstung modernisiert. Die Beck u. Kaltheuner Feuerfeste Erzeugnisse GmbH & Co.KG in Freiberg lieferte die Technologie für die Hinterfüllung der Kühlung in den verschiedenen Sektionen des Hochofens. Für das Füllen der Lücke zwischen den Sektionen im Hochofen wurden 132 t feuerfester Beton aus Deutschland verwendet. Früher sei die Verfüllung mit einheimischem Mörtel geschehen. Dieser sei aber bereits nach sechs Jahren nicht mehr brauchbar, hatte der Chef des Hochofen-Werks, Georgij Kostenko, laut einer Meldung des ukrainischen Internet-Portals ugmk.info mitgeteilt. Der deutsche feuerfeste Beton könne hingegen 15 Jahre verwendet werden, so der Werkschef. Deshalb seien auch höheren Kosten gerechtfertigt, betonte Kostenko, ohne diese aber näher zu erklären. Der betreffende Hochofenbereich sei als Herzstück hinsichtlich der langfristigen Betriebssicherheit eines Hochofens zu betrachten. Die Anforderungen an das Feuerfestmaterial seien sehr hoch und es gebe weltweit nur einzelne Hersteller, die diesen gerecht werden. Beck und Kaltheuner arbeitet seit etwa sechs Jahren erfolgreich auf dem russischen Markt und seit 2005 auch in der Ukraine.
07.12.2007 Source: DJG

Arcelor Mittal Kryvyi Rih repairs converter No. 6
07.12.2007 Source: Ukrainian News Agency

Berdychiv's Progress Engineering Plant to supply to Russia's Magnitogorsk Iron & Steel Works (MMK) 2 filtration towers before February 2008
06.12.2007 Source: Ukrainian News Agency

Palmary increases share in Australia's CSM to 19.36%
Palmary Enterprises Limited, which belongs to the co-owner of Ukraine's PrivatBank Hennadiy Boholyubov, has increased its share of voting shares in Australia's Consolidated Minerals (CSM) from 15.29% to 19.36%, according to a company report. The company said that Palmary bought shares from shareholders who accepted its offer to buy CSM. The number of shares belonged to Boholyubov's company grew from 35.345 million to 44.827 million. As reported, earlier Palmary Enterprises Limited extended its unconditional cash offer for CSM from A$4.70 to A$5, and its rival - Pallinghurst company - announced that the company will not up its offer but would accept Palmary's offer.
05.12.2007 Source: Interfax

Alchevsk Iron & Steel Works ups roll output 7.7% in 11 months
Alchevsk Iron & Steel Works, a member of the Industrial Union of Donbas (IUD) group, increased finished roll output tentatively 7.7% year-on-year in January-November to 3.219 million tonnes, including 315,000 tonnes in November. The mill produced 3.582 million tonnes of crude steel, up 5.4% year-on-year, in the 11 months. Pig iron production rose 9.1% to 2.961 million tonnes but sinter output fell 3.4% to 4.494 million tonnes. Finished roll production at Alchevsk grew 13.2% to 3.261 million tonnes in 2006.
05.12.2007 Source: Interfax

Khartsyzk Pipe Plant launches ultrasonic inspection system
Khartsyzk Tube Works launches ultrasonic inspection system made by Germany's Karl Deutsch in pre-delivery section of its electric pipe welding workshop No. 2
05.12.2007 Source: Ukrainian News Agency

Khartsyzk Pipe Plant reduces output 7.8% in 11 months
The Metinvest holding's Khartsyzsk Pipe Mill reduced production of large-diameter pipes by 7.8% year-on-year in January-November 2007 to 492,000 tonnes, including 25,300 tonnes in November, down 16.8%, the company said in a press release. The mill produced 444,529 tonnes of pipe with anticorrosive, down 12.7%, in the 11 months, including 20,595 tonnes in November. Large-diameter pipe production at Khartsyzsk rose 9.2% in 2006 to 595,700 tonnes, including growth of 38.5% to 516,000 tonnes with anti-corrosive.
05.12.2007 Source: Interfax

Advanced equipment has been commissioned at Azovstal Ironmaking plant
For the first time in Ukraine, infrared camera has been installed at Azovstal BF No 6. It enables to read out relative temperature fields, determine material level and control distribution of gas flow in BF. Due to usage of state-of-the-art equipment, time required for data collection and processing about internal processes in the furnace and on-line decision-making of changing in furnace charging is considerably reduced. "All-out control of raw materials and power resources consumption at all production levels is the keystone of our business success. Implementation of advanced technologies and advanced equipment enables to bring up problem of optimization of costs connected with raw material to a new level, and this is another resource for salary growth dynamics of our employees" - said General Director of PJSC Azovstal Iron & Steel Works Dmitry Livshits. Project costs made up more than UAH 780 thousand. Similar equipment is planned to be installed at all blast furnaces.
5.12.2007 Source: press service of Azovstal

Leman Commodities, wird zu Metinvest International
Leman Commodities, 1997 in Genf gegründet, ist einer der grössten internationalen Akteure im Handel mit Metall, insbesondere Stahl. Leman Commodities gehört der Metinvest Gruppe an, die ihrerseits in die Holding System Capital Management integriert ist, welche als Zugpferd der ukrainischen Wirtschaft rund 160´000 Personen beschäftigt. Leman Commodities beherrscht 9% des Weltmarktes im Handel mit Rohren und Leitungen, 8% des Weltmarktes mit merchant slabs (Stahlröhren) und merchant square billets, sowie 5% mit heavy plates. Die Produktepallette reicht von Spulen über Stahlbleche, über Schienen und Betonbehälter hin zu Öl- und Gasleitungen.
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04.12.2007 Source: Dow Jones Newswires

Poltava Mining to invest USD 300 million in crushing concentration plant
Ukraine's top iron ore pellet producer, Poltava Mining, plans to invest USD 300 million in the construction of a crushing and concentration plant as part of the development of the Yeristov deposit, CEO Viktor Lotous said. "We plan to launch it in five years. The construction of the plant is estimated at USD 300 million, for which we will raise bank loans," he said. The company also plans to develop the Lavrikov deposit, he said. "The tender for suppliers of machinery took place last week. The winners of the tender are Hitachi, which will supply three excavators; Caterpillar, which will supply eight machines; and Belaz, which will supply four trucks," Lotous said. In addition, Poltava Mining plans to invest about UAH 600 million in modernization in 2008, which will be UAH 200 million more than this year, he said. The money will be spent on updating the pellet production shop and mine transport facilities. Lotous said Poltava Mining plans to increase iron ore production to 32 million tonnes as of 2012.
04.12.2007 Source: Interrfax

Poltava Mining boosts iron ore pellet output 7.1% in 11 months
Poltava GOK (PGOK), Ukraine's biggest iron ore pellet producer, raised commercial pellet production tentatively 7.1% year-on-year to 8.319 million tonnes. Iron ore concentrate production grew 11.3% to 9.756 million tonnes. PGOK produced 740,000 tonnes of pellets and 903,000 tonnes of concentrate in November.
PGOK exports most of its pellets. The company increased shipments to China in 2006. The company ships around 10% of its pellets to China. PGOK's main customers are located in Austria, Poland, Romania, the Czech Republic, the former Yugoslavia, Bulgaria and Italy. Domestic market sales started to increase in the second half of 2006. Switzerland's Ferrexpo AG owns 85.8% of PGOK.
04.12.2007 Source: Interfax

IUD purchases 83% shares of Polish shipyard "Stoczina Gdanska"
The daughter company of the Ukrainian "Industrial Union of Donbass" "ISD Polska" has purchased 83% shares of the Polish shipyard "Stoczina Polska". The company transferred 100 million PLZ for extra share issues to obtain 83% shares of the "Stoczina Gdanska". The "Industrial Union of Donbass" came up with an idea to purchase shares in October. The corporation also runs the Alchevsk Iron and Steel Works, Alchevsk Coke Chemical Plant, Dniprovskyi Metallurgic Plant, Hungarian Dunafer and Polish Huta Stali Czestochowa. The IUD's production volumes exceed 9.2 million tons per annum.
04.12.2007 Source: Ukrinform

Arcelor Mittal Kryviy Rih increases roll output 4% in 11 months
Arcelor Mittal Kryviy Rih increased roll production tentatively 3.9% year-on-year to 6.491 million tonnes in January-November 2007. In the 11 months, the company's steel production grew 7.8% to 7.437 million tonnes, pig iron - 7.1% to 6.623 million tonnes and sinter - 6.2% to 10.947 million tonnes. In November, the company produced 566,000 tonnes of roll, 644,000 tonnes of steel, 591,000 tonnes of pig iron and 928,000 tonnes of sinter. In the 11 months, the company's coke producing subsidiary, increased production 12.8% to 2.766 million tonnes while its ore mining division's output of iron ore concentrate grew 9.2% to 7.723 million tonnes, with crude iron ore production up 3.6% to 1.806 million tonnes. Arcelor Mittal Kryviy Rih is Ukraine's largest metal producer and partner of the Metal-Forum of Ukraine.
04.12.2007 Source: Interfax

Arcelor Mittal Kryvy Rih boosts pretax profit 42% in January-October
Arcelor Mittal Kryvy Rih increased pretax profit 41.9% year-on-year to UAH 4.598 billion in the first ten months of 2007 on sales up 33.6% to UAH 15.674 billion. The main markets for the company's steel products are the Middle East, Europe, Africa, Algeria, the European Union and Eastern Europe. Arcelor Mittal Kryviy Rih is Ukraine's largest metal producer and partner of the Metal-Forum of Ukraine.
03.12.2007 Source: Interfax

Smart Holding transfers 82.5% stake in Inhuletsk GOK to Metinvest
Kyiv-based CJSC Smart-holding, in the light of expanding cooperation with System Capital Management (SCM) in the mining and metallurgical sector, has transferred an 82.5% stake in OJSC Inhulets Mining (Inhulets GOK) in Dnipropetrovsk region to Metinvest, which manages the mining and metallurgical assets of SCM, according to a Metinvest report. "We're gradually realizing a plan to merge the mining and metallurgical assets of SCM and three companies of Smart-holding. We hope that the plan will be realized in full by the end of the first quarter of 2008. After the merger, Smart-holding will become the second owner in Metinvest," reads the report, citing Metinvest Holding Ltd. Director General Ihor Syry. He said that Inhulets GOK is one of the most promising companies in the sector, and Metinvest is being developing its development plan as part of the vertical structure of Metinvest. Syry said that the key investment would be allocated to increase production and further improve product quality. In 2008 production growth at Inhulets GOK is expected to be 5%. The tentative investment in 2008 will be around USD 200 million.
03.12.2007 Source: Interfax

Inhulets Mining ups iron ore concentrate output 5.7% in 11 months
Inhulets Mining, Ukraine's biggest producer of iron ore concentrate, increased output of commercial concentrate by 5.7% year-on-year to 12.596 million tonnes in the first 11 months of 2007, according to tentative figures. Production in November came to 1.11 million tonnes. Inhulets, which has an estimated 77% share of the Ukrainian concentrate market, sold 11.806 million tonnes of concentrate to domestic steelmakers in the 11 months, less than a planned 12.314 million tonnes.
03.12.2007 Source: Interfax

Azovstal ups steel roll output 5.7% in 11 months
Azovstal, one of Ukraine's leading steelmakers, increased the output of rolled products by 5.7% year-on-year to 5.068 million tonnes in the first 11 months of 2007, including 429,000 tonnes in November. Production in the 11 months increased by 7.7% to 4.942 million tonnes of pig iron and 5.4% to 5.746 million tonnes of crude steel. Finished roll production grew 0.6% in 2006 to 5.272 million tonnes. System Capital Management controls Azovstal via the Metinvest holding.
03.12.2007 Source: Interfax


 
 
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