The impact of the military conflict on Metinvest's business is generally unknown.
Metinvest Group will never operate under Russian occupation, despite the fact that more than a third of Ukraine's metallurgical facilities are located in Mariupol, which has been under siege by the Russian army for more than a month. About this, writes Reutars with reference to the company.
“We believe in the victory of Ukraine and plan to resume production after the end of hostilities. under Russian occupation “, – declare in Metinvest.
According to the publication, Ukraine is one of the largest suppliers of metallurgical products to Europe. However, after the Russian invasion, production more than halved.
Metinvest's website states that Metinvest's production facilities in Mariupol remain in hot canning mode.
At the same time, assets in Avdiivka and Mariupol suffered further damage as a result of hostilities in these cities.
“Until the active phase of Russia's military aggression ends and reliable channels of communication with the factories are established, it is impossible to assess its impact on the Group's enterprises,” the statement said.
Metinvest's management takes a number of measures to ensure the operation of other assets of the Group to the extent that it is safe for their employees and taking into account the logistical constraints in Ukraine.
Thus, Zaporizhstal, a full-fledged metallurgical enterprise in Zaporizhia (a joint venture with Metinvest), is resuming production that has been in hot canning since March 2, 2022. In early April 2022, the plant began inflating two of the four blast furnaces and partially resumed operation of the sinter plant. To ensure the stability of the production process, transport, energy, engineering and other auxiliary units of the plant work. Gradually, with the receipt of cast iron in the work will introduce the following links in the production chain. The removal of Zaporizhstal from the conservation regime was preceded by the resumption of Metinvest's assets in Zaporizhia, namely Zaporizhkoks and Zaporizhzhnyagtryv, which produce metallurgical coke and refractories.
Regarding the activities of other assets of Metinvest:
“Kametstal”, a metallurgical enterprise in Kamensky , continues to work, all three blast furnaces operate at the enterprise.
The Group's production facilities in the EU, the UK and the US continue to adapt as independent companies (for example, for European flat-rolled producers, the Group supplies slabs from external suppliers).
“The full extent of the impact of the military conflict on the Group's business is generally unknown and will depend on the duration and scale of the conflict and the impact on the Group's core assets”, – emphasize in Metinvest.
