24 March 2015
Metinvest Group restarted production at Yenakiieve Steel in the second half of March. The group’s steel-making plants are now in operation.
Yenakiieve Steel started producing iron with one blast furnace, with another being blown in. The first batches of cast billets were produced on 20 March. The plan is to quickly reach stable, high production in April, with utilization of the steel-making facilities in April of 80% (about 200,000 tons of steel) and section rolling mills being brought back on line.
Ilyich Iron & Steel Works of Mariupol, Azovstal and Zaporizhstal are operating normally. The utilization of facilities in Mariupol is 75-80%, while Zaporizhstal is almost 100% utilized. Ilyich Iron & Steel Works of Mariupol and Azovstal expect to produce over 530,000 tons of steel next month.
Metinvest’s European plants plan to increase their production level to about 150,000 tons of rolled products per month.
- For editors:
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