Metals and Mining

Interpipe Novomoskovsk Pipes Plant [NVTR UZ, BUY] has increased pipe output by 52% to 116 thsd metric tones in 4M08. The pipe production in April has been 31.7 thsd metric tons.

Avdiivka Coke [AVDK UZ, N/R] has increased output by 35.5% to 1.566 mln mt in 4M08, according to UGMK.INFO.

Komsomolets Donbassa Coal Mine [SHKD UZ, N/R] has increased the mining of energy coal 8.3% to 0.86 mln in 1Q2008. Last year, the coal mine increased its coal output 10.9% from 3.09 to 3.43 mln metric tons.

Alchevsk ISW [ALMK UZ, BUY] increased rolled products output by 37.6%, to 1.503 mln mt. Crude steel production increased 31.6% to 1.635 mln mt, whereas pig iron output rose 52.2% to 1.466 mln mt.

Khartsyzsk Tube Works [HRTR UZ, N/R] produced 34 thsd metric tons of pipes in April 2008, up 287% MoM, but still a 71.8% reduction YoY. Khartsyzsk Tube Works is the largest Ukrainian producer of large-diameter pipes, with a production capacity of about 1.6 mln tons of pipes per year.

Mining machinery producer Yasvnuvata Machinery Plant [YAMZ, N/R] has reported a USD 0.05 mln net income for 2007, almost 59 times less than the USD 2.9 mln reported in 2006. The company’s 2007 net sales rose an insignificant 3.14% YoY, from USD 25 mln to USD 25.7 mln.

Enakievo ISW group, which includes OJSC Enakievo Iron & Steel Works [ENMZ UZ, BUY], reported the following operational results in 4M08: pig iron, 971 thsd mt (+26.5% YoY); crude steel, 1,034 thsd mt (+15.6%); rolled products delivered, 1,026 thsd mt (+12.1%), of which finished long products 211 thsd mt (+76.5%).

Sukha Balka [SUBA UZ, N/R] has released its 2007 annual report. By mistake or for reasons unknown, the Assets half of the balance sheet has not made it into the electronic version of the report.

On May 05, an official Severstal-metiz press release announced that the Russian group, which owned a 60%+1 stake in Dniprometiz [DMPO UZ, N/R], has exercised its option of purchasing an additional 34.6% from the Ukrainian TAS group.

Avdiivka Coke [AVDK UZ, N/R] is convening a general meeting on June 19, one of the topics on the agenda being approval of a share offering plan. The proposed plan is to issue 1.458 mln of new shares that will have a face value of USD 0.348.