KYIV. July 21 (Interfax-Ukraine) – The supervisory council of PJSC Zaporizhvohnetryv, Ukraine’s largest enterprise for production of refractories, part of Metinvest Group, has given preliminary consent to sign a contract with Minmetals Japan Corp. (Japan) for the supply of raw materials, namely magnesite and graphite, in 2016 for a total of UAH 142.5 million.
According to official information from the information disclosure system of the National Commission on Securities and the Stock Market, the supervisory council made the corresponding decision on July 15 this year.
Details of the transaction have not been disclosed.
It is permitted to sign a contract for the amount not exceeding 25% of the cost of the company’s assets according to the latest annual financial report, which is UAH 570.096 million. The ratio of the marginal cost of the transaction to the value of Zaporizhvohnetryv assets, according to the most recent annual financial statements, is 24.99579%.
Zaporizhvohnetryv in 2015 saw net income grow by 54.1% compared to 2014, to UAH 1.002 billion, while its net loss decreased by 67.4%, to UAH 21.031 million, pretax loss by 70%, to UAH 22.959 million from UAH 76.159 million.
Its retained earnings at the end of last year amounted to UAH 54.855 million.
