Metinvest: Normal operation of KhTZ is impossible due to the situation in the southeast of the country

by creator • 21.10.2014 • 0 Comments

Metinvest

Khartsyzsk Pipe Plant

Due to the military confrontation in southeastern Ukraine, the Khartsyzsk Pipe Plant (KhTP) is unable to operate.

In particular, the full operation of the plant, which is part of the Metinvest group, is hampered by the lack of supplies of any materials—transport companies supplying materials are refusing to travel to the war zone.

Furthermore, many enterprises in the conflict zone are currently idle, even though KhTZ has contractual obligations with them. There is also a shortage of specialized equipment—the factory's tractor and truck crane have been confiscated.
As a reminder, net profit for the second quarter, according to international financial reporting standards, amounted to UAH 143,957 million. KhTZ is the largest plant in the CIS producing such products (large-diameter pipes for main pipelines).

REFERENCE:

The main shareholders of Metinvest BV are the SCM group (71,25%) and the Smart Holding group of companies (23,75%), which participate in the management of the company on a partnership basis.

Metinvest Holding LLC is the management company, and Metinvest BV (Netherlands) is the holding company of the Metinvest Group.
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