Металлургия

In 4M2008, Interpipe Nyzhnodniprovsky Pipe Rolling Works [NITR UZ, SELL], reduced its pipe output 1.8% YoY to 204.2 thsd metric tons. In April 2008, the mill produced 50.4 thsd metric tons of pipes (6.7% fall MoM).

On May 19, the PFTS announced that Zaporizhstal [ZPST UZ, BUY] will be re-listed on this main Ukrainian stock exchange.

DTEK, the owner of the Comsomolets Donbassa coal mine [SHKD UZ, N/R], has attracted a USD 150 mln loan with an interest rate of Libor+3% and a two-year credit term.

On May 16, Dniprospetsstal [DNSS UZ, BUY] disclosed in an official filing further changes in nominal ownership structure.

The May 16 AGM of Dniprometiz [DMPO UZ, N/R] provided no details on the company’s development plans. The management indicated that such plans would be discussed at a later press conference.

On May 13, Metinvest Holding reported that during 4M08, one of its trading subsidiaries, Metinvest-Ukraine LLC (responsible for Metinvest Group sales in Ukraine and CIS countries excluding Russia), demonstrated strong results. Namely, sales of long products in CIS countries (excluding Russia) increased 45% YoY to 55 thsd mt, whereas long products sales in Ukraine jumped by similar 45% YoY to 380 thsd mt. The leading growth market was Belorussia, which consumed 14 thsd mt, twice as much as in 4M07. Metinvest-Ukraine director general, Oleg Olshanskiy, noted that the company’s growth rate in Ukraine outpaced the average market growth rate by more than two times.

At a May 14 EGM, shareholders of Dnipropetrovsk Metallurgical Plant named after Komintern, or Kominmet, [DMZK UZ, N/R] approved a share capital increase plan. A total of 48.3 mln new shares will be offered at the face value of USD 0.0495 per share, fetching USD 2.4 mln. Shareholders will be able to exercise their exclusive purchase rights (on a pro-rata basis) from July 14-18 (ex-rights day July 14, last trading day July 11); during the second stage, which is to last just one day, July 21, anyone would be able to purchase leftover shares.

On May 01, Donetsk Metal Rolling Plant [DMPZ UZ, HOLD] has launched its main Mill 300 after 35 days repairs. According to Metal Courier, in April the company halted production completely (as we reported was expected earlier). In May, 12 thsd metric tons is to be produced.

Donetsk Metal Rolling Plant [DMPZ UZ, HOLD] released the 2007 financials.

Dniprovsky Iron & Steel Works named after Dzerzhinsky, or simply Dzerzhynka [DMKD UZ, SELL], is conducting a share capital increase. Number of shares outstanding will increase 2.44 times, to 6.777 bln. The ex-rights date was May 12.