SCM and Smart-Holding announce completion of the merger of their metals and mining assets under Metinvest B.V.14.07.2014
The transaction between SCM and Smart-Holding on the merger of their metals and mining assets under jointly managed company Metinvest B.V. was closed on 14 July 2014. At the last stage of the transaction, Smart Group contributed 100% of the shares in Trosilia Holdings Limited (Cyprus) to the statutory capital of Metinvest B.V. Trosilia Holdings Limited indirectly owns 46.15% of the shares in PJSC Southern Iron Ore Enrichment Works.
Smart-Holding announces its decision to cut off funding to FC Sevastopol, as the Crimean club cannot participate in the 2014-2015 season of the Ukrainian Championship Premier League.
For the full year, consolidated revenues rose by 2% to US$12,807 million. Operating profit increased by 4% to US$1,026 million, giving an operating margin of 8%, while adjusted EBITDA rose by 15% to US$2,291 million, driving the EBITDA margin to 18%.
Metinvest Group's metallurgical plants manufactured 33 new products in 2013. The economic benefit of these new products was $42.5 mln.
The RST27 design SVL Liberty tanker constructed by Kherson Shipyard (KhSY, Kherson) was included in the list of Significant Ships 2013, according to the Royal Institution of Naval Architects (RINA).
Ochakov Port has constructed and commissioned the first stage of the U-Ochakov Port facility for transhipment and storage of grain crops in Kutsurub village (Ochakov district, Nikolaev region). The transhipment capacity of the terminal's first stage is 250,000 tonnes of grain a year, whereas the total design capacity amounts to 500,000 tonnes. The simultaneous storage capacity of the terminal's first stage is 20,000 tonnes.