Metinvest Will Carry Out Scheduled Repairs At Italian Rolling Plants In May

Metinvest Group will carry out scheduled repairs at its Italian rolling plants in May.

This is stated in the message of the group, Ukrainian News Agency reports.

"Metinvest decided to postpone scheduled repairs at the group's Italian rolling plants - Metinvest Trametal (San Giorgio di Nogaro, Udine province) and Ferriera Valsider (Vallese di Oppeano, Verona province) - from August 2022 to May 2022. After the full-scale invasion of Russian troops in Ukraine in February 2022, the group's rolling plants began to establish their activities as independent businesses and purchase slabs that previously supplied the Group's Mariupol assets on the open market," the statement said.

According to the report, in order to make this transition more effective, Metinvest decided to postpone the annual maintenance of factories from August 2022 to May 2022.

"Production at the two plants will resume in June 2022, when a new batch of raw materials arrives. Despite the change in the supply chain of flat-rolled producers of Metinvest, the group will continue to provide them with operational and financial support," it said.

As Ukrainian News Agency earlier reported, Metinvest is preparing lawsuits against Russia for damages for the destruction of the Illich integrated iron & steel works and Azovstal (both Mariupol, Donetsk region).

The main shareholders of Metinvest BV are the SCM group (71.24%) and the Smart-Holding group of companies (23.76%), which manage it as a partnership.

100% of SCM shares belong to businessman Rinat Akhmetov.