4 February 2015
Azovstal Iron and Steel Works has supplied over 1,000 tons of R-34 rails to the Ukrainian market and received its first order for export. This type of rails is widely used in the construction of narrow gauge railway tracks at objects under construction and mining enterprises.
Azovstal I&SW is mass producing R-34 rails, which it mastered in September 2014. Metinvest's products have the following advantage: its boltholes for rail fastening are manufactured directly at the mill. Previously, the customers had to do them at their sites via flame cutting.
DTEK's mining enterprises located in Ukraine were the first customers of these products. R-34 rails were used to construct and repair rail track for lifting loaded railcars from the mine to the surface. DTEK has purchased over 1,000 tons of these rails since September 2014.
The first export order of 60 tons received by Metinvest will be manufactured in February. The customer is a mining company from in the CIS.
Dmitry Nikolaenko, sales director of Metinvest Group
"Metinvest continues to master products with high added value that are in demand in Ukraine and abroad. This is important for us that we launched regular supplies of new type of mine rails to the largest company in Ukraine's mining sector. At the next stage, we are planning to setup partnerships with customers in Kazakhstan, Russia, Poland and Bulgaria."
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PJSC "AZOVSTAL IRON & STEEL WORKS" is a modern high-technology enterprise manufacturing wide range of steel products: slabs, bars, shapes, railway rails, rail fasteners, square billets, plates and products of metallurgical slag. Production capacities of the enterprise allow to produce annually over 5.5 million tons of iron, over 6.2 million tons of steel (aim is to achieve 7 million tons of steel per year) and over 4.4 million tons of rolled products. Design capacities for rail fasteners production is 285 thousand tons per year, grinding balls 170 thousand tons per year.
METINVEST is an international vertical-integrated mining-and-metallurgical Group of companies, which runs assets in every link of production chain for creation of value from iron-ore and coal mining tol semi-finished and finished metal products manufacture. The structure of the Group comprises mining and metallurgical enterprises in Ukraine, Europe and USA, and sales network covering the key world markets. METINVEST GROUP consists of Metallurgical and Mining Divisions. According to the strategical vision of the Group its aim is to become lead European vertical-integrated steel producer with stable ratio of growth and cost effectiveness in spite of market cyclicity, and to ensure investment return higher than industrial standards. For the first quarter of 2014 ended 31 March 2014, the Group reported revenues of US$2.9 billion and an EBITDA margin of 30%.
The main shareholders of METINVEST B.V. company (Holding company of METINVEST GROUP) are SСM GROUP (71,25%) and SMART GROUP (23,75%), which control Group at partnership relations.
METINVEST HOLDING LLC is the managing company of METINVEST GROUP.