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Ukraine Mittal Steel Kryvy Rih To Boost Domestic Sales 2007Ukrainian steel smelter Mittal Steel Kryvy Rih intends to boost sales on the domestic market to 24 pct of the plant's total production in 2007, Volodymyr Sheremet, head of the plant's production department, said on June 14, 2007.In 2006, sales on the domestic market accounted for 20.4 pct of the smelter's production. The plant exported 70.9 pct of its products to countries of the Middle East, North Africa and South America. Mittal Steel Kryvy Rih boosted its overall output in 2006, producing 6.8 million tonnes of cast iron, 7.6 million tonnes of steel and 6.9 million tonnes of finished steel. In February Mittal Steel Kryvy Rih announced plans to increase steel production by 7.8 pct in 2007, compared to the previous year, and to boost finished steel and cast iron production by 4.9 pct and 5.7 pct, respectively. The smelter also intends to raise sinter output by 3.7 pct to 11.813 million tonnes, while production of iron ore concentrate is projected to grow by 6.0 pct to 8.25 million tonnes and coke output is seen up 28.8 pct to 3.47 million tonnes in 2007 against a year ago. Ore extraction is expected to reach 22.480 million tonnes, up 11.3 pct. Mittal Steel Kryvy Rih's expenditures on upgrade and technical reequipment are seen at 1.64 bln Ukrainian hryvnias ($325.1 mln/244.4 mln euro) in 2007, up 34 pct on the year. In late February, Arcelor Mittal CFO, Aditya Mittal, said the owners of the Ukrainian smelter were impressed by its performance and promised new investments in the plant, which would boost its steel output to 10 million tonnes annually. In October 2005, Mittal Steel Germany GmbH bought a 93.02 pct stake in Kryvorizhstal and renamed it to Mittal Steel Kryvy Rih. The shareholders' meeting of Mittal Steel Kryvy Rih decided on June 14, 2007 to rename the company to ArcelorMittalKryviyRih, as part of Arcelor-Mittal strategy for its units in the Commonwealth of Indemendent States (CIS).
Friday, June 15, 2007
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