Metinvest


Metinvest is a group of steel and mining companies that owns operations in Ukraine, Italy, Bulgaria, the UK and the US. The company mines ore and coal, produces coke, smelts steel and produces rolled products, pipes and other steel products. The group's assets are managed by Metinvest Holding LLC.

History

2006

On 6 June 2006, Metinvest Holding LLC, the management company of Metinvest Group, was founded.100% stake acquired in Leman Ukraine LLC, a leading Ukrainian wholesale and retail metal trading company, and 27% stake acquired in Yenakiieve Iron and Steel Works.

2007

In October 2007, Metinvest became the first Ukrainian member of the World Steel Association
In November 2007, the group acquired 82.5% of Ingulets Iron Ore Mining and Processing Plant, one of Ukraine's largest mining companies.

2008

In January 2008, Metinvest completed the acquisition of a 100% stake in the rolling businesses of Trametal S.p.A. and Spartan UK Ltd from Italy's Malacalza family.
In June 2008, SRK Consulting conducted the first JORC-compliant audit of Metinvest's open-pit reserves.
In July 2008, Metinvest acquired a 51% stake in NPO Incor & Co LLC, one of Europe's largest chemical producers.

2009

In April 2009, Metinvest completed the acquisition of a 100% stake in United Coal Company, one of the leading coking coal producers in the US.
In September 2009, Metinvest became the first Ukrainian company to receive Climate Action certification from the World Steel Association.
In December 2009, Metinvest acquired a 95% stake in the Bulgarian rolling company Promet Steel AD.

2010

In January 2010, Metinvest published its first social report in accordance with the Global Reporting Initiative, an international sustainability reporting standard.
In March 2010, the group became a member of the United Nations Global Compact initiative.
In July 2010, Metinvest and Ilyich Iron and Steel Works decided to merge their assets.
In October 2010, Metinvest consolidated a 90.2% interest in Makiivka Steel CJSC.
In December 2010, the group completed the registration of its products under European Regulation No 1907/2006.

2011

In May 2011, Azovstal decommissioned its open-hearth plant.
In July 2011, Metinvest acquired 50% of the steel business of Industrial Group, which operated Zaporizhstal PJSC, one of Europe's largest steelmaking companies.

2012

In 2012, during the First National Steel Construction Market Participants' Conference in Kyiv, Metinvest was one of 12 Ukrainian companies that initiated the creation of the industry association Steel Industry Directory – Trade Associations, and later became one of its founders.
In July 2012, Metinvest completed the acquisition of a 49.9% stake in Zaporizhstal PJSC.
In December 2012, Metinvest decided to close the sinter plant at Azovstal.

2013

In May 2013, Metinvest acquired a 39.74% stake in Zaporizhneupor PJSC, Ukraine's largest producer of refractory products.
In 2013, SCM Group and Smart-Holding transferred to Metinvest 23.5% in Central Mining and Processing Plant PJSC, 15% in Northern Mining and Processing Plant PJSC, 26% in Zaporozhkoks PJSC, 31.3% in Donetskkoks PJSC and 3.1% in Ingulets Iron Ore Mining and Processing Plant PJSC.

2014

In July 2014, SCM and Smart-Holding announced the completion of the merger of their mining and metals assets within Metinvest B.V.

2015

In May 2015, Ilyich Steel decommissioned its open-hearth plant.
In 2015, Metinvest established Metinvest-Promservice, a company specialising in maintenance and repair of equipment at all the group's steel assets and third-party organisations.

2016

In March 2016, Metinvest signed a social partnership agreement with the Mariupol Development Foundation.
In August 2016, the Zaporizhzhia Foundry and Mechanical Plant started operating in Zaporizhzhia.
In September 2016, the Metinvest Green Centre public union was established in Kryvyi Rih.

2017

In March 2017, Metinvest reported that it had lost control over Yenakiieve Steel and its Makiivka branch, Yenakiieve Coke, Khartsyzsk Pipe, Komsomolskoye mining company, Krasnodon Coal PJSC, Donetsk Coke PJSC and Metalen LLC, a joint Ukrainian-Swiss venture, following its refusal to re-register these enterprises in the unrecognised Donetsk People's Republic and Luhansk People's Republic.

2018

In 2018, Metinvest bought a 23.71% stake in metallurgical coke producer Yuzhcoke and acquired 100% of the shares in galvanised steel producer Unisteel.
In 2018, Metinvest acquired a 24.99% stake in Pokrovske Colliery and Sviato-Varvarynska Beneficiation Factory, which together form Ukraine's largest coal mining complex.

2019

In 2019, the group acquired a 49.37% stake in Dniprovskyy Coke and Chemical Plant.
In 2019, Metinvest joined the Dutch Metal Industry Association.

2020

In March 2020, Metinvest completed the purchase of a roughly 73% stake in Dniprovskyi Coke and Chemical Plant.
In June 2020, Metinvest was ranked among the top 10 global steel companies by Sustainalytics, a leading provider of research, ratings and data on environmental, social and governance issues. The company scored 32 points on a scale from 0 to 100 according to the ESG risk assessment methodology.
In June 2020, Metinvest founded Ukraine's first private mining and metallurgical university, Metinvest Polytechnic, to provide training in the engineering professions demanded by Ukrainian industry.
In 2020, Metinvest spent about $6m to fight the coronavirus throughout the year. The group supplied oxygen to Ukrainian hospitals and donated medicine and equipment.
In 2020, Metinvest shareholder Rinat Akhmetov allocated ₴300 million to help Ukraine overcome the pandemic, uniting the efforts of the Charity Fund, DTEK and Metinvest companies and FC Shakhtar, which became partners in the anti-crisis headquarters in the west and east of the country.

2021

In March 2021, Metinvest gained control over Pokrovske Coal Group, Ukraine's largest producer of coking coal, which includes Pokrovske Colliery and Sviato-Varvarynska Beneficiation Factory.
In July 2021, Metinvest won the tender for the sale of the production complex of Dneprovskyi Iron Steel Works.
In December 2021, Metinvest Pokrovskugol is established to manage the operational and administrative changes at the Pokrovske Colliery Group.

2022

In 2022, Metinvest announced plans to invest more than $1.2 billion to modernis its facilities.
In February 2022, Dniprovskyi Metallurgic Plant and Dnipro Coke merge under the name Kamet Steel.
Since the start of the Russian invasion of Ukraine, the group has suspended production at Ilyich Steel and Azovstal in Mariupol. These enterprises suffered from shelling and suspended operations. As a result of Russia's aggression, the group as a whole reduced the production capacity of its enterprises by more than 40%.
During the first 100 days of the war, Metinvest spent more than UAH 1.5 billion to help the Ukrainian army, civilians and employees. Metinvest also produces decoys.
In 2022, Metinvest and DTEK, in coordination with the Rinat Akhmetov Foundation, created the Saving Lives humanitarian project, which had already helped 85,000 Ukrainians as of June 2022.
As of June 2022, Metinvest shareholder Rinat Akhmetov had donated €100 million to the Ukrainian Armed Forces and humanitarian aid to the population since the start of the Russian invasion.

Shareholders and management

Metinvest is a mining and metals group that is beneficially owned by Rinat Akhmetov.
The main shareholders of the group are SCM and Smart Holding, which participate in the management of Metinvest on a partnership basis. Metinvest Group's main holding company is Metinvest B.V.. From 2006 to 2013, the company was led by Ihor Syryy. In 2009, he was named the best top manager in Ukraine. Since 2013, the company has been headed by Yuriy Ryzhenkov. In 2020, he entered the list of Ukraine's top 25 CEOs.

Structure

Mining

  • Ingulets GOK,
  • Northern GOK
  • Central GOK
  • Southern GOK — joint venture of Metinvest Group
  • Pokrovske Coal
  • Komsomolskoye mining company *
  • Krasnodon Coal,
  • United Coal

    Metallurgical

  • Zaporizhstal — joint venture of Metinvest Group
  • Zaporizhzhia Foundry and Mechanical Plant
  • Kamet Steel
  • Unisteel
  • Yenakiieve Steel,
  • Khartsyzsk pipe,
  • Promet Steel
  • Ferriera Valsider
  • Metinvest Trametal
  • Spartan UK
  • Metinvest Resource
  • Avdiivka Coke
  • Inkor Chemicals
  • Zaporizhia Coke
  • Zaporizhia Refractories

    Sales

Metinvest Group is present in all major markets around the world, including Europe, the Middle East and Africa, North, Central and South America, and Asia.
  • Metinvest-Eurasia was Metinvest Group's distribution channel in Russia. The company ceased operations in April 2022.
  • Metinvest-SMC, LLC is a network of steel service centres selling Metinvest products in Ukraine. The company started operating in 2003. By 2022, there were 18 steel centres in Ukraine.

    Logistics

  • Metinvest Shipping

    Service and engineering

  • Metinvest-Promservice
  • Metinvest Engineering
  • Mariupol Machining and Repair Plant
  • Kryvyi Rih Machining and Repair Plant
  • Metinvest Digital
*''On 15 March 2017, Metinvest Group announced the total loss of control over the operations of these assets.''

Company market position

In 2021, Metinvest topped Forbes ranking of Ukraine's largest private companies.
It is Ukraine's largest producer of iron ore and steel. In 2021, the World Steel Association ranked the group 42nd among the top 50 steel companies in the world.
Steelmaking capacity is 15 million tonnes per year. In 2021, Metinvest was ranked among the world's top 10 iron ore producers.
The group's facilities are located near major transport hubs and seaports, which gives additional advantages in supplying products to customers in Ukraine and elsewhere in the world.