Home
/
News
/

Mariupol Illich Steel to merge with Metinvest Holding?

Mariupol Illich Steel to merge with Metinvest Holding?

16 June 2010

Volodymyr Boyko, the CEO of Mariupol Illich Steel (UX: MMKI UK),  announced yesterday that his company is negotiating a merger with Metinvest Holding, Ukraine’s largest metallurgical group. According to Boyko, Mariupol Illich Steel would benefit from the merger thanks to the raw material base of Metinvest (iron ore, pellets and coke). Metinvest Holding’s representatives confirmed that negotiations with Mariupol Illich Steel are in progress. Andriy Gerus: We believe the merger would benefit both sides. Should it materialize, the combined company would make it to the top 20 worldwide by steel production and enjoy all benefits of vertical integration given that Metinvest has excess iron ore (Pivnichnyi, Centralnyi, Ingulets and Pivdennyi Iron Ore plants), coking coal (Krasnodon Coal in Ukraine and United Coal Company in the U.S.), and coke (Avdiyivka Coke) production, which can be used to make steel at Mariupol Illich. Currently, Metinvest Holding is #7 globally by iron ore production.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...