Metinvest Mining and Metallurgical Group is ready to invest in Europe and expand its presence in the market, including steel production, and is currently in the process of mergers and acquisitions of some European steel assets, said Alexander Vodovez, Chief Executive Officer of the Group, at the European Business Summit in Brussels.
“We are negotiating with several European companies to come to Ukraine. We are currently in the process of merging and acquiring some European steel assets, as we have a huge resource base and want to use it properly,” said the top manager.
According to the head of Metinvest’s CEO’s office, before the war, the group employed about 120,000 people and accounted for about 5% of Ukraine’s GDP. But with the start of the full-scale invasion, the company lost almost 50% of its enterprises, particularly in Mariupol and Avdiivka. Today, Metinvest employs about 60,000 people in Ukraine, Italy, the United States, Bulgaria and the United Kingdom. About 9,000 of the company’s employees serve in the Ukrainian Armed Forces, and about 1,000 employees have been killed. The group’s enterprises operate under the threat of shelling, with some facilities located just 10 km from the frontline.
Vodoviz emphasized the importance of entering the EU market, especially as Ukraine fights Russian aggression.
“Ukraine has the largest resource base on the European continent. And we can offer Europe access to these resources. In return, we want access to European technologies and the financial system to implement projects both in Ukraine and in the EU. But we do not need free money – we are ready to compete. We are ready to be part of the economic society of Europe and want this accession process to be completed as soon as possible,” stated the head of Metinvest’s CEO’s office.
At the same time, he clarified that the main obstacle for Ukraine on its way to European integration is the war: “We cannot simply turn a blind eye to the war, but our government has a homework assignment – to go through all the procedures for joining the European Union: monitoring, enforcement of laws, etc.” The top manager emphasized that Ukraine’s European integration will help ensure the strategic autonomy of the European steel industry from Russia.
