News

Gelabran Real Estate – one of the founding shareholders of Amstor Group – supported the primary shareholder, Smart-Holding, in its intention to stabilize the operations of Amstor hypermarkets all over Ukraine.

On 31 December, some armed men broke into a number of hypermarket stores of Amstor retail chain. As it turned out later, they acted at the direction of Amstor’s ex-manager, Vladimir Vagorovskiy. In the course of the audit made by the retailer’s shareholders, he was accused of unlawful actions.

Smart-Holding, as the primary shareholder of Amstor Group, has audited the operations of the group’s enterprises and found out that lately the minority shareholder Vladimir Vagorovskiy, who was the managing partner at Amstor Group, using the difficult situation in Eastern Ukraine, committed a number of unlawful acts in violation of Ukrainian laws. Mr. Vagorovskiy’s actions constituted an outrageous infringement on the other shareholders’ rights and were intended for his personal gain.

Smart Maritime Group (Kiev) and Kirgan Holding S.A. signed a contract for construction of two hulls of ship-towing tugs (T 2440 design) at the facilities of Kherson Shipyard (KhS).

In 9M 2014, Metinvest’s consolidated revenues decreased by 14% (or US$1,348 million) y-o-y. This was primarily due to a fall in sales of steel (US$805 million), iron ore (US$419 million), coal (US$90 million) and coke products (US$101 million), partly offset by an increase in sales of pig iron (US$145 million). The Metallurgical division accounted for 78% of external sales (76% in 9M 2013) and the Mining division for 22% (24% in 9M 2013).

Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (jointly referred to as “Metinvest” or “the Group”), announced its unaudited IFRS interim condensed consolidated financial statements for the first six months ended 30 June 2014.

The administration of Chernomorsky Shipbuilding Yard (Nikolaev, Smart-Holding) fully paid off its payroll debt for the previous periods to the shipyard's employees to the amount of UAH 9.8 million. The shareholder of Smart-Holding Vadim Novinsky made a critical decision to allocate the funds for full repayment of the company's payroll debt.

Chernomorsky Shipbuilding Yard (Smart-Holding, Nikolaev) shall supply the specialized equipment to Ilyich Iron and Steel Works in Mariupol (Metinvest Group) to be used in the sinter plant retrofit and upgrade project.