Dmitry Firtash's business group acquires Stirol

Group DF, controlled by Ukrainian businessman Dmitry Firtash, acquired a controlling stake in Stirol (UX: STIR UK), Unian reported yesterday, citing a Group DF press release. Ruslan Patlavskyy: The news ends market speculation regarding Stirol’s sales and sets a clearer guidance regarding the  more →

Stirol resumes production at idled ammonia plants

Stirol (UX: STIR UK) restarted production at two idled ammonia plants, which have a total production capacity of 1 mln mt per year, according to local media reports. Ruslan Patlavskyy: Based on our conversation with Stirol’s management, the company expected a seasonal increase in demand for fe more →

Stirol shareholders vote down dividends for 2009

Stirol (UX: STIR UK) shareholders, at an AGM yesterday, voted down a dividend payout for 2009. The company posted net sales last year of UAH 1.9 bln (down 56% y-o-y) and a net loss of UAH 324 mln (vs. net profit of UAH 591 mln in 2008). Ruslan Patlavskyy: Based on our conversation with company manag more →

Ukraine increases fertilizer imports 2.5x y-o-y in 5M10

Ukraine increased imports of nitrogen fertilizers 2.5x y-o-y in 5M10 to USD 158.5 mln in monetary terms, while exports decreased 2.4% y-o-y to USD 369.3 mln, the State Statistics Service reported yesterday. The increase in imports was due to ammonia nitrate, which rose 2.2x y-o-y to USD 36.4 mln, as more →

Stirol stops operations over high gas prices

Local media outlets reported yesterday that Stirol (UX: STIR UK) stopped production due to high gas prices that made operations economically unfeasible. Reports also indicated fellow chemical producer Severodonetsk Azot also suspended production for the same reason, but Aleksei Kunchenko, company pr more →