Metinvest and Smart Maritime Group (SMG) have reached an agreement to set up a service center based on SMG's shipyards in Kherson and Nikolayev in line with the strategy of downstream development of services in the processing of rolled steel products.

Metinvest's customers will be offered the new service that includes shape cutting, straightening, bending, bevelling, shotblasting and prime coating of rolled plates with the use of state-of-the-art equipment. The enterprises are capable of producing wide products for various applications and suiting needs of local customers.

The possibility of purchasing rolled steel products, which underwent primary processing, will empower Ukrainian producers to increase the performance and strengthen their competitive positions, inter alia, in exports. Furthermore, as part of this cooperation, Metinvest and SMG intend to offer services also to customers overseas engaged in the manufacturing of components for wind towers, shipbuilding and various engineering sectors.

Reference

METINVEST is an international vertically integrated steel and mining group of companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It has steel and mining production facilities in Ukraine, Europe and the US, as well as a sales network covering all key global markets. The Group 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 the industry benchmarks. The Group generated USD 4.56 billion of revenues and 22% EBITDA margin for the first nine months of 2016.

The major shareholders of METINVEST B.V. (the holding company of Metinvest Group) are SCM (71.24%) and Smart Holding (23.76%), which partner in its management.

METINVEST HOLDING LLC is the management company of Metinvest Group.

Smart Maritime Group is Ukraine's largest shipbuilding company with two shipyards in Nikolayev and Kherson. The company is part of industrial and investment group Smart-Holding.