Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies, announces its operational results for the fourth quarter and 12 months ended 31 December 2013.
He was previously the Chief Operating Officer at DTEK.
In the first six months of 2013, consolidated revenues totalled US$6,515 million. EBITDA reached US$1,243 million, up 14% year-on-year, while the EBITDA margin increased by 3 percentage points (pp) to 19%.
Metinvest B.V. announces that the company has executed definitive agreements to form a development arrangement with Black Iron Inc. and to invest in Black Iron, which is currently a wholly-owned subsidiary of Black Iron. The agreements create a defined path for Metinvest to become a prominent shareholder of Black Iron’s development projects, the Shymanivske Project and the Zelenivske Project, each located in Kryvyi Rih, Ukraine. Provisions of the agreements between Black Iron and Metinvest require Metinvest to make an initial investment of US$20 million in BKI Cyprus to help fund the Projects, with potential investment amounts thereafter expected to increase during construction of the Projects to approximately US$536 million.
Dear colleagues, professionals of steel making and mining industries!
For many years, your work has been shaping welfare of Ukraine that takes its rightful place among the world’s largest producers of iron and steel.
On July 08, SCM Group, as envisaged in its agreement with SMART Group, transferred to Metinvest Group the following blocks of shares: 23.5% of shares in Central GOK, 15.0% of shares in Northern GOK, 26.0% of shares in Zaporizhia Coke and 31.3% of shares in Donetsk Coke. SMART Group transferred 3.1% of shares in Ingulets GOK.
The CEO of Smart-Holding and the chairman of the strategic committee of Metinvest Group, Alexey Pertin, participated in the official opening ceremony of the new coking coal mine of United Coal Company that is part of Metinvest Group. The opening ceremony was also attended by the Acting Governor of West Virginia, Earl Ray Tomblin, and the mayor of Sophia, Danny Barr.
The Metinvest Group has completed the consolidation of its assets with Ilyich Steel Plant. As a result, Ilyich Steel Plant joined the Metinvest Group, and Clarendale Limited, with Vladimir Boyko being the main beneficiary, became the group's shareholder.