Akhmetov Continues Consolidating Metallurgy Assets.

Metinvest Holding, the holding company for Rinat Akhmetov’s metallurgy assets, has received permission to buy a controlling stake in Skif Shipping, one of the largest shipping companies operating in the port of Mariupol. Skif Shipping, established in 2000, transported 2.7m mt of steel for export in 2003, more than 20% of the goods turnover in the Mariupol port. Andriy Gostik: Metinvest Holding is completing its vertical integration to become a fully self-sufficient metal corporation before a probable IPO, which we expect no earlier than 2008. Skif Shipping is the exclusive forwarding agent in Mariupol port for Azovstal, Metinvest’s key steel plant.