Металлургия

Nikopol Ferroalloys [NFER UZ, N/R] will conduct an AGM on October 08. Among the topics on the agenda are: profit distribution for 2001, 2002, 2003, 2005, 2006, and tentatively for 2008; management board reports for these years; and technical matters, such as the new edition of its statute.

Dniprovsky Iron & Steel Works named after Dzerzhinsky, or simply Dzerzhynka [DMKD UZ, BUY], is reportedly conducting trial production tests on a brand new concaster No. 1. According to UGMK.info, the 1.5-1.7 mln mt concaster will be tuned up after the trial tests and subsequently commissioned for production.

The Metinvest Group got approval at a public hearing of its plan to construct a coal transloading terminal in Sevastopol. The Group’s stevedore company, Avlita, plans to invest USD 170 mln (including USD 30 mln allocated for ecology-related items) into construction of the transloading terminal.

Azovstal [AZST UZ, U/R] is tuning up its new 2.5 mln tpa concaster No. 6, constructed within the realms of a 2003-2008 USD 826 mln CapEx program.

Motor Sich [MSICH, U/R], one of the largest global producers of aircraft and helicopter engines, reported weak financials for 1H08. Despite the fact that net sales for that period increased by 18.7% to USD 172.2 mln, company’s net revenue decreased by 22.8 times and totaled USD 1.1 mln. At the same time, EBIT decreased by 5.1 times to USD 6.4 mln.

Alchevsk ISW [ALMK UZ, BUY] plans to launch the 3 mln mt oxygen converter No. 2 in mid-September. According to Metal Courier, volumes may not increase immediately because of insufficient pig iron capacities.

Azovstal [AZST UZ, BUY] plans to tune its new 2.5 mln mt concaster No. 6 to design capacity by the year’s end. This was disclosed by a company representative to Interfax-Ukraine at a celebration of the 75th anniversary of the plant in Mariupol.

Shareholders of Poltava GOK [PGOK UZ, HOLD] will vote on a share capital increase at a September 23 EGM.

At the August 05 AGM, shareholders of the Chervonoarmiyska Zakhidna No. 1 coal mine [SHCHZ UZ, N/R] decided to reinvest 95% of the 2007 net income of UAH 53.5 mln (USD 11.6 mln at USD/UAH 4.63). The remaining 5% will go into the company’s reserve fund.

Avdiivka Coke [AVDK UZ, Strong BUY] has increased output by 39.5% to 2.727 mln mt in 7M08. According to Interfax-Ukraine, which cited the Ministry of Industrial Policy of Ukraine, in July 2008 Avdiivka Coke produced 368 thsd mt of coke, down 6.8% from June’s 395 thsd mt.