Металлургия

The Ministry of Economy of Ukraine announced that quotas for Ukrainian exports of some steel products to the European Union have been abolished. Bohdan Danylyshyn, the Ukrainian economy minister, who is visiting Belgium, announced the abolition in a parenthetic statement, cited on the Ministry’s web site, following meetings with the European Commission officials.

Interpipe Nyzhnodniprovsky Pipe Rolling Works [NITR UZ, SELL] is increasing its non-destructive testing facilities, which will enable the company to hold full, non-destructive testing of its steel pipe products to improve them for consumers.

Azovstal [AZST UZ, BUY] announced an updated majority shareholder composition. According to a May 26 official filing, Metinvest B.V. of the Netherlands owns 2.959 bln shares (70.55%), and Metinvest International S.A. of Switzerland controls 0.904 bln shares (21.56%).

On May 23, shareholders of Dniprospetsstal [DNSS UZ, U/R] re-elected the Board of Directors in full at an EGM. The meeting also decided to employ Energy Registrar Company LLC as the registrar.

Dnipropetrovsk Tube Works [DTRZ UZ, U/R] reduced its output 24.9% YoY to 55 thsd metric tons of pipes in 4M2008. The company produces more than 3,000 types and sizes of tubes from carbon and non-alloy steel grade, a chemical compound. The mill belongs to the Industrial Union of Donbas.

Dnipropetrovsk Tube Works [DTRZ UZ, N/R] has reported a USD 1.85 mln loss in 2007. The company has also disclosed its full FY07 report. Selected income statement data: net sales - USD 163 mln (+1% YoY), gross income - USD 152.4 mln (+6% YoY), EBITDA - USD 6.9 mln (-41% YoY).

Shares of Dniprovsky Iron & Steel Works named after Dzerzhinsky, or simply Dzerzhynka [DMKD UZ, BUY], started to trade at prices apparently corrected for the recent 2.44x share capital increase.

Azovstal [AZST UZ, BUY] is convening a general meeting on July 04, the main agenda topic being an approval of a share offering plan.

On May 20, EastOne, the main holding company of Viktor Pinchuk, disclosed that it had sold its stake in Dniprospetsstal [DNSS UZ, U/R].

On May 20, Zaporizhstal [ZPST UZ, BUY] re-opened on PFTS after almost 2 years of being delisted.