Business news from Ukraine


29 April , 2020  

PJSC Energomashspetsstal (Kramatorsk, Donetsk region), owned by Russia’s Atomenergomash (Rosatom state corporation), outputted products for UAH 2.26 billion in 2019, which is 6% less than the same indicator in 2018, and sold almost 86% of output for UAH 1.94 billion.
The enterprise said in a statement on its website on Monday, April 27, that such figures were given in the report of General Director of Energomashspetsstal Vitaliy Hnezdytsky at the general meeting of shareholders on April 23.
“Despite the decline in demand in the foreign and internal markets, increased competition from Asian manufacturers, the presence of excess capacity in Eurozone enterprises, PJSC Energomashspetsstal manages to preserve the accumulated potential and maintain a stable economic condition. The enterprise managed to output products almost at the level of last year,” the press service said, citing the general director’s report.
He said that there were some 59,300 tonnes of liquid steel [5% less than in 2018], some 3,200 tonnes of cast products (6.7% more), some 37,900 tonnes of forgings (7% less) produced in 2019.
“There were 85.8% of manufactured products amounted to UAH 1.940 billion sold in 2019. The main consumers were Germany, Kazakhstan, China, Finland, the United States, France, Poland, Romania, Belgium and others. There was entry into the gross products market of the United States, Brazil and Mexico,” the general director said in the report.
According to the report, the enterprise regularly pays salaries, and the average salary amounted to almost UAH 18,800 UAH in February 2020, which is 24% more than in February 2019.
The shareholders determined the output and sale of products in the amount of UAH 3.71 billion in 2020.
According to the Energomashspetsstal report in the disclosure system of the National Securities and Stock Market Commission, the shareholders also elected a new composition of the supervisory board, which included eight former members and instead of retired Yuriy Yatseniuk, who was a member of the supervisory board from 2011, introduced Kateryna Taruta [daughter of the MP and former governor of Donetsk region Serhiy Taruta] as a representative of the Cyprus EMSS Holdings Limited.
Energomashspetsstal is the largest Ukrainian manufacturer of special cast and forged products of individual and small-scale production for metallurgy, shipbuilding, energy (wind, steam, hydro, nuclear), and general engineering.