15 March 2013 // Press centre Metinvest Group
Metinvest announces the signing of a social partnership agreement for 2013 between Metinvest Group, Yenakiieve Iron & Steel Works and the Yenakiieve City Council. As part of the trilateral agreement, there will be an increase in the financing of social program by two times.
The agreement was signed by Metinvest CEO Igor Syry, Yenakiieve Steel General Director Aleksandr Podkorytov, and City Mayor Valery Oleynik.
During a meeting, it was noted that despite the difficult economic situation in the industry, Metinvest planned to continue to upgrade its operations and create new jobs. EMZ employed 863 people last year. The average salary at the enterprise increased 8%. The plant contributed almost one-third of the city's budget revenue in 2012.
The parties said the key results of the 2012 agreement included important infrastructure projects, a program to improve residents' quality of life, and donations to educational and medical institutions. Investments made as part of the social partnership agreement totalled UAH 3.5 million in 2012. One of the most notable projects was Metinvest's initiative to purchase two new trams for UAH 9 million.
The key areas of the 2013 social partnership agreement are: financing development of the city's general plan, establishing family clinics, rebuilding kindergarten #8, and participating in the city's Fire Safety program.
The Company will continue to support social initiatives from residents, NGOs and the city as part of its "We Improve the City" and "A Healthy Environment Is Everyone's Business" programs. The Yenakiieve branch of the youth and children football academy will continue to operate. Volunteer development projects will also take place.
"EMZ completed 100% its planned social obligations to the city in 2012 and exceeded some of its targets", said Valery Oleynik, Yenakiieve mayor. "We say ‘thank you’ and hope for fruitful cooperation in 2013."
"Our biggest contribution to the city's development is to have effective enterprises," said Igor Syry, Metinvest Group CEO. "This means stable jobs and stable budget revenues for the city. EMZ's employees and all of the city's residents deserve a good life. This year EMZ will increase its financing of social programs by two times. I am sure that our projects will be successful and all issues will be resolved."
- For editors:
Metinvest Group is a vertically integrated group steel and mining companies that manages every link in its value chain from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. The Group consists of steel and mining production facilities in Ukraine, Europe and the USA and has a sales network covering all key global markets. Metinvest Group is structured into Metallurgical and Mining Divisions, and has a strategic vision to become the leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles, and providing investors with returns at above industry benchmarks. In 2012, Metinvest produced 12.4 million tons of crude steel and 36.2 million tons of iron ore concentrate, and mined 11.6 million tons of coking coal.
The major shareholders of Metinvest B.V. (the holding company of Metinvest Group) are SCM Group (71.25%) and Smart Holding (23.75%), who are partners in the Company’s management.
Metinvest Holding, LLC is the management company of Metinvest Group.
For more information, please visit www.metinvestholding.com.