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Ukrainian subsidiary of Russian steel producer works stably

February 27, 2014, 16:04 UTC+3 MOSCOW
Ukraine’s subsidiary of Russia’s largest steel producer Severstal, Dneprometiz, works stably and riots have not affected its production process
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At a steel factory (archive)

At a steel factory (archive)

© ITAR-TASS/Vladimir Smirnov

MOSCOW, February 27. /ITAR-TASS/. Ukraine’s subsidiary of Russia’s largest steel producer Severstal, Dneprometiz, works stably and riots have not affected its production process, Severstal Director-General Alexei Mordashov told reporters during a telephone news conference on Thursday.

Dneprometiz based in Dnepropetrovsk, eastern Ukraine, is a member of Severstal-metiz, a group of companies which unites metalware assets of Severstal.

“As concerns the situation in Ukraine, I am not ready to make any comments,” Mordashov said. “If we speak about work of our subsidiary in Ukraine, it works stably and events in Ukraine have exerted no effect on its operation. This is a specialised enterprise producing metal goods.”

Speaking of Severstal’s exports to Ukraine, he said, “We have never exported big volumes there, especially of late, over rather low growth rates of the Ukrainian economy in the past quarters and years, therefore we feel no significant impact on our exports to Ukraine.”

Dneprometiz is Ukraine’s leading producer of steel wires, nails, fastenings and metal gauze. It joined Severstal-metiz in February 2006.

Severstal-metiz has its branches in Russia, Ukraine and Italy. It exports its products to Europe, Ukraine and other CIS member-states.

Severstal is one of the world’s largest vertically integrated steel-making and mining companies with assets in Russia, the United States, Ukraine, Poland, Latvia, Italy, Liberia and Brazil. Director-General Alexei Mordashov owns a 79.2 percent stake in the company.

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