7 September 2011
Metinvest plans to complete an internal reorganization by October 1, Ekonomicheskie Izvestia reported yesterday. The plans envisage Metinvest’s coke division joining the steel & rolled products wing and coal moving under iron ore. The restructuring streamlines the management of sales, procurement, logistics, strategy and finance, according to Izvestia. Metinvest, a vertically integrated mining and steel holding owned by System Capital Management, has 24 assets in Ukraine, Europe and the U.S. Metinvest has two outstanding Eurobond issues: USD 500 mln due in May 2015 and USD 750 mln due in February 2018; listed assets include Avdiivka Coke (UX: AVDK UK, BUY), Azovstal (UX: AZST UK, N/R), Central Iron Ore (UX: CGOK UK, BUY), Northern Iron Ore (UX: SGOK UK, BUY), and Yenakiieve Steel (UX: ENMZ UK, N/R).