Металлургия

On June 17, Azovstal [AZST UZ, BUY] reported in a Metinvest Holding press release that it has tested a brand new vacuum vessel.

ArcelorMittal Kryvyy Rih [KSTL UZ, HOLD] surprised yet again, having declared UAH 1.5 (USD 0.31) per share dividends at its June 12 AGM. The ex-dividends date was the day of the meeting, June 12. Natural persons have until September 01, 2008, and legal persons - until December 29, 2008 to apply for dividends.

On June 11, Azovstal [AZST UZ, BUY] reported in an official press release that it has produced first slabs at its brand new concaster No 6. The 2.5 mln mt Danieli machine has entered a testing stage, and its launch will increase Azovstal’s continuous slab casting capacity to 6.5 mln mt.

On June 10, Zaporizhstal [ZPST UZ, Strong BUY] submitted an official filing with the regulators disclosing a significant shareholder structure change. Namely, on June 06, Kyiv Securities Group LLC increased its stake by 10.76% to 19.62%.

Interpipe Novomoskovsk Pipe Plant [NVTR UZ, BUY] increased its pipe output 38%YoY to 143.9 thsd metric tons in 5M2008. The plant produced 32.1 thsd metric tons of pipes in May. The mill specializes in the production of welded pipes for oil and gas, water transportation and welded pipes for wider industrial applications. The company belongs to Interpipe.

Interpipe Nyzhnodniprovsky Pipe Rolling Works [NITR UZ, HOLD] increased its output 4% MoM to 52.6 thsd metric tons of pipes in May 2008. The mill also produced 252.2 thsd metric tons of pipes in 5M2008, reducing its production 1.3% YoY. NITR is one of the biggest Ukrainian pipe producers and the world’s second largest producer of railway wheels. The mill makes seamless pipes for the oil, gas and power industries, as well as produces railway wheels and tires.

Daniel Valk, the CEO of Dniprospetsstal [DNSS UZ, U/R], confirmed plans to implement a USD 200 mln investment program. The timeframe of the program changed from 2008–2009 to 2009–2012. Valk also projected net sales exceeding USD 800 mln for 2008. According to the CEO, EBITDA should increase at least 40% in 2008, surpassing USD 150 mln. According to Interfax-Ukraine, which reported from a June 05 investment forum, Valk noted increasing sales in Asia and North America, as well as opening an office in Chicago. Cheap Ukrainian labor, as well as favorable logistics for supplies on natural markets (Ukraine and the CIS), were mentioned as competitive advantage factors.

Zaporizhstal [ZPST UZ, Strong BUY] conducted an AGM on June 06. Some clarification has been given regarding the modernization program, including the USD 1.7-2.0 bln converter-concaster shop construction project. The company postponed profit distribution decision, and streamlined its management structure.

The third annual press conference of Metinvest Holding took place in Kyiv on June 06. The company officers reported the preliminary 2007 financial results, and confirmed some of its capital expenditure plans.

Nikopol Ferroalloys [NFER UZ, N/R], the largest Ukrainian ferroalloys maker, reduced its output 1.5% YoY to 447.5 thsd metric tons in 5M2008.