Yenakiyeve Steel temporarily halts production due to local fighting

Yenakiyeve Steel temporarily halts production due to local fighting



14 серпня 2014 года
Конкорд Капитал

Енакиевский металлургический завод (ENMZ)


The third largest steelmaker of Metinvest (METINV), Yenakiyeve Steel (ENMZ UK), reported on Aug. 13 that it has temporarily suspended its operations in order to avoid possible casualties among employees resulting from active armed fighting in close proximity. The fighting has already led to the bombardment of one of its converter workshops, though the company has yet to report material damage.



Roman Topolyuk: The Yenakiyeve Steel plant generates 12% of Metinvest’s revenue and below 2% of its EBITDA, we estimate, and is an important part of the vertically integrated chain of Ukraine’s biggest steel holding. The three assets of Metinvest – Yenakiyeve Steel, Khartsyzk Pipe (HRTR UK) and Krasnodonvuhillia (which satisfies 45% of the holding’s coking coal demand) – are located on territory controlled by separatist forces. Any material damage to either of them caused by the war, which can’t be precisely forecasted, could be used by Metinvest as a pretext to initiate restructuring talks with lenders.

Источник: Конкорд Капитал

Аналитик: Роман Тополюк
Другие обзоры по компаниям и отраслям от Конкорд Капитал


Компании

все компании