KYIV. July 29 (Interfax-Ukraine) – Nikopol Ferroalloy Plant (Dnipropetrovsk region) is looking for new markets due to a fall in sales in Ukraine related to instable operation of metal companies caused by hostilities in the Anti-Terrorist Operation (ATO) zone.
Board Chairman and Director General of Nikopol Ferroalloy Plant Volodymyr Kutsyn said in an interview with the Elektrometallurh newspaper published by the Ukrainian Association of Ferroalloy and Other Electrometallurgical Products Manufacturers on Thursday that the Ukrainian market depends on hostilities.
“In June due to difficulties in the operations of railways almost all metal companies were idle. This resulted in steel production decline by 15% that month. The restricted Ukrainian market forces use to look for new foreign markets. There are these markets: we work with the Far East, continue cooperating with South Korea, Taiwan, Malaysia and Philippines. These are new markets. We develop relations with traditional partners – Turkey, the United States, Egypt, Arab Emirates and the whole of Europe,” Kutsyn said.
He said that the exports share today is around 70%. Earlier the share of silicon manganese made by the enterprise reached 20% of the global market, while today is less than 18%. The plant supplies its products to more than 60 countries, almost all the state that smelt steel (around 70 countries on the list of the World Steel Association).
“As for prospects, we have many ideas, but they require large investment. We sought to install ferrofluid cogeneration station. We had to burn it, but this is wrong from the point of energy saving and environment friendliness. This project could cost $70-80 million. It is still an idea,” he said.
He said that the electricity tariff increase decreases the opportunities for modernization and stable operation, as ferroalloy production is energy intensive: the share of electricity of the cost production is around 30%.
Kutsyn said that the plant sent UAH 1.126 billion of taxes and duties in 2015, including UAH 92.51 million to the local budget.
Interbank currency exchange, UAH/USD
Source: National Bank of Ukraine
Interbank currency exchange, UAH/EUR
Source: National Bank of Ukraine
KYIV. July 28 (Interfax-Ukraine) – State-owned public joint-stock company Ukrbud Construction Company, part of the Ukrbud Corporation (all based in Kyiv) saw a 4.9-fold rise in net profit in January through June 2016 year-over-year, to UAH 2.804 million.
The company said in a report that it saw a 3.8-fold rise in net revenue, to UAH 101.837 million.
Gross profit soared by 2.8 times, to UAH 17.065 million and operating profit – by 4.5 times, to UAH 3.529 million.
Undistributed profit totaled UAH 11.099 million (a rise of 37.5% year-over-year).
Current liabilities grew by 6.8 times, to UAH 456.168 million and noncurrent liabilities decreased by 43.8%, to UAH 160.191 million.
The company saw a 48% rise in assets, to UAH 824.173 million.
Ukrbud Construction Company was created by the government of Ukraine in 2004. It is engaged in the design and construction of industrial and civil objects, and staff training for the construction industry.
Ukrbud as of late 2015 consisted of 12 subsidiaries in the country.
KYIV. July 28 (Interfax-Ukraine) – The Federation of Metal Companies of Ukraine has pointed out the success of the policy conducted by Ukraine’s Economic Development and Trade Ministry to protect the interests of Ukrainian metal companies on foreign markets.
FMU Head Serhiy Bilenky wrote his Facebook page the success provided an opportunity to praise the ministry. .
“Deputy Minister Natalia Mykolska can take credit for her work to stimulate exports of Ukrainian metal products. Mining and metal enterprises and companies from other industrial sectors are thankful for her work to promote protection from antidumping investigations in India, Pakistan, the EAEU (the Eurasian Economic Union), on free trade zones with Turkey and Israel and the expansion of trade with Canada, as well as the regional convention on origin of goods,” Bilenky said.
He said he hoped the ministry will help with the antidumping investigation into hot-rolled flat iron started by the EU.
KYIV. July 28 (Interfax-Ukraine) – Commercial Industrial Bank (CIB, the СomInBank trademark, Kyiv) has attracted a foreign investor, the bank’s press service has reported.
“On July 26, an agreement to acquire 100% of shares in CIB by a foreign investor was signed. Information will be submitted to the National Bank of Ukraine (NBU) on July 27. The name of the investor will not be disclosed until the deal is finalized,” the bank said.
The press service said, referring to Board Chairman Hanna Venhlynska, that the foreign investor noted the transparency of procedures and observation of international doing business standards by the bank.
The share capital registration procedure will meet Ukrainian legislation and NBU’s requirements. The registration will be carried out after filing the relevant documents.
CIB said that its net profit in H1 2016 totaled UAH 1.212 million.
In May the bank increased charter capital by UAH 16 million, to UAH 128.6 million.
As reported, in March 2016, the NBU recognized one of the founders of KVV Group, a scrap metal production holding, Yevhen Kazmin, a majority shareholder in the bank.
Kazmin was arrested in late April under a ruling of Shevchenkivsky district court in Kyiv. He was accused of financing separatists by the Security Service of Ukraine (SBU), while KVV Group denies his guilt. The court remanded him to pretrial confinement until June 26, 2016.
Commercial Industrial Bank was registered in 1993.
KYIV. July 28 (Interfax-Ukraine) – Pharmacy sales in Ukraine in January-June 2016 in monetary terms increased by 17% compared to the same period in 2015, to UAH 26.899 billion.
Business Credit company told Interfax-Ukraine for the six months of 2016 pharmacy sales in packages rose by 5%, to 684.402 million packages.
According to the company, in particular, retail sales of medicines in January-June in monetary terms increased by 17%, to UAH 22.069 billion, in packages by 7%, to 424.199 million packages.
In addition, Business Credit said in June 2016 pharmacy sales grew by 27% compared to June 2015, to UAH 3.514 billion in monetary terms and by 20%, to 68 million packs in packages.
The average weighted price of a pharmacy goods basket in June 2016 was UAH 38.90, medicines UAH 51.70 per package, which is 4% more than in June 2015.
