News from Ukrainian Companies |
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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%
